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. .-~ LOAN CONTRACT lower Arkansas Water Management Association Feasibility Study 10. (BORROWER WARRANTIES): lOa. The BOrrower warrants that it has full power and authority to enter into this Contract. The execution and delivery of this Contract and the performance and observation of its terms, conditions and obligations have been duly authorized by all necessary actions of the Borrower. lOb. The Borrower warrants that by accepting a loan pursuant to the terms of this Contract and by the Borrower's representations herein, the Borrower shall be estopped from asserting for any reason that it is not authorized or obligated to repay the loan pursuant to the terms of this Contract to the State. 10c. The Borrower warrants that he has not employed or retained any company or person, other than the Consultant referred to in paragraph 1. of this contract, and other than a bona fide employee working solely for him, to solicit or secure this contract and that he has not paid or agreed to pay any person, company, corporation, individual, or firm, other than a bona fide employee working solely for him, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from the award or the making of this contract. 11, (OTHER PROVISIONS): lla. (fhe Colorado Water Conservation Board is designated agent of the State): The Colorado Water Conservation Board, its agents and employees, is hereby designated as the agent of the State for the purpose of this contract. . 11 b. (Contract is not assignable): This contract is personal in nature and assignment of performance by the Borrower to another is prohibited unless prior approval in writing is granted by the State. llc. (Contract relationship is that of lender-borrower): The parties to this contract intend that the relationship between them contemplated by this contract is that of Page 8 of 12 Pages ....