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<br />as set forth in any of the appendices, the provisions of this contract shall control. <br /> <br />6. Eligible Expenses. PROJECT costs eligible for financing by the STATE shall be limited to the cost <br />of: <br /> <br />a. Preparing final designs and specifications for the PROJECT. <br /> <br />b. Preparing bid and construction contract documents. <br /> <br />c. Preparing environmental assessment or environmental impact statements, and otherwise <br />complying with the Federal National Environmental Policy Act. <br /> <br />d. Complying with all federal, state, and local regulatory requirements, including the obtaining of <br />all required permits. <br /> <br />e. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations. <br /> <br />f. Actual construction as called for in the design documents and in change orders approved by <br />the STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM. <br /> <br />g. Engineering services for construction management, including design and construction <br />management for STATE-approved change orders. <br /> <br />h. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing <br />construction contract documents, and for complying with all federal, state, and local regulatory <br />requirements. Legal services must be approved by the STATE in writing and in advance to be <br />eligible for financing by the STATE. <br /> <br />7. STATE May Release Contract. In its sole discretion, the STATE may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termination of any or all cf the <br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms and <br />conditions as the STATE may determine to be advisable to further the purposes of this contract or <br />to protect the STATE'S financial interest therein, and consistent with both the statutory purposes of <br />this contract and the limitations of the statutory authority under which it is made. <br /> <br />8. Casualty And Eminent Domain. If, at any time, during the term of this contract, (a) the <br />BORROWER'S PROJECT facilities and/or property pledged as collateral for this loan, including <br />buildings or any portion thereof, are damaged or destroyed, in whole or in part, by fire or other <br />casualty, or (b) title to or use of the PROJECT facilities or any part thereof shall be taken under the <br />exercise of the power of eminent domain, the BORROWER shall cause the net proceeds of any <br />insurance claim or condemnation award to be applied to the prompt replacement, repair and <br />restoration of the PROJECT facilities or any portion thereof. Any net proceeds remaining after such <br />work has been completed shall be paid to the BORROWER. If the net proceeds are insufficient to <br />pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the <br />work and pay any cost in excess of the net proceeds. <br /> <br />9. Captions. The captions and headings contained in this contract are for convenience and <br />reference only and shall not be construed so as to define or limit the terms or provisions <br />contracted herein. <br /> <br />10. STATE'S Approval. This contract requires review and approval of plans, specifications, and <br />various other technical and legal documents. The STATE'S review of these documents is only for <br /> <br />The Hawkeye Lateral Ditch Company <br /> <br />Page 9 of 13 <br /> <br />Loan Contract <br />