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<br />:,-, <br /> <br />.:) <br /> <br />LOAN CllIITRACT <br />Yindsor Reservoir and CanaL Co. <br />_rgency Loan <br /> <br />~------_._----_._---------_.---_.-- <br /> <br />12. (Adhere to applicable laws): Shall strictly adhere to all applicable Federal, <br />State, and local laws and regulations that have been or may hereafter be established. <br /> <br />------------------------------------------------------------------------------------------------------------------ <br /> <br />C. The State agrees that it has or shall: <br /> <br />1. (Agree to loan money to the Borrower to cover eligible project construction <br />costs): Agree to loan to the Borrower an amount not to exceed that specified in the <br />Promissory Note of this contract. Said amount shall be made available to the Borrower <br />in accordance with the following terms and conditions: <br /> <br />1a. The Borrower shall prepare, with the assistance of the Consultant referred to <br />in paragraph A.1. above, a statement of the costs of project construction and shall <br />forward satd statement to the State. <br /> <br />lb. Upon receipt and approval by the State of such statement, the State will, <br />within thirty (30) days from the approval of such statement, pay over to the Borrower <br />the amount of the statement or such portion thereof as has been approved by the State. <br /> <br />.1c. Project construction costs eligible for financing by the State shall be limited to <br />the cost of: <br /> <br />(1) Preparing final designs and specifications for the project. <br /> <br />(2) Preparing bid and construction contract documents. <br /> <br />(3) Preparing environmental assessment or environmental impact <br />statements, and otherwise complying with the Federal National <br />Environmental Policy Act. <br /> <br />(4) Complying with all Federal, State, and local regulatory requirements, <br />including the obtaining of all required permits. <br /> <br />(5) Land and water rights acquisitions needed for the project, including <br />the necessary appraisals and evaluations. <br /> <br />(6) Fish and wildlife mitigation measures required by Federal, State, or <br />local laws and regulations. <br /> <br />(7) Actual construction as called for in the design documents and in <br /> <br />Page ~ of 13 Pages <br /> <br />