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<br />or servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and <br />the acts of its agents, employees, servants, engineering firms, consiruction firms, and <br />subcontractors during the performance of this contract. <br /> <br />4. Complete Integration Of All Understandings. This agreement is intended as the complete <br />integration of all understandings between the parties. No prior or contemporaneous addition, <br />deletion, or other amendment hereto shall have any force or effect whatsoever unless embodied <br />herein in writing. No subsequent novation. renewal, addition, deletion, or other amendment <br />hereto shall have any force or effect unless embodied in a written contract executed and approved <br />pursuant to STATE fiscal rules, unless expressly provided for herein. <br /> <br />5. In Event Of A Conflict. In the event of conflict between the terms of this contract and conditions <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 25% of the <br />cost 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 iocal 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 compiying with all federal, state, and local regulatory <br />requirements. <br /> <br />7. STATE May Release Contract. In its sole discretion, the STATE may at any time give any consent, <br />deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER'S <br />obligations under this contract, with valuable consideration, upon such terms and conditions as <br />the STATE may determine to be advisable to further the purposes of this contract or to protect the <br />STATE'S financial interest therein, and consistent with both the statutory purposes of this contract <br />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 including buildings or any portion thereof, are damaged or <br />destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT <br />facilities or any part thereof shall be taken under the exercise of the power of eminent domain, the <br />BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be <br />applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion <br />thereof, or to repayment of this loan. Any net proceeds remaining after such work has been <br /> <br />Otero Ditch Company <br /> <br />Page 9 of 13 <br /> <br />Loan Contract <br />