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<br />" <br /> <br />that it has taken all steps necessary to pledge its <br />full faith and credit for this obligation. <br /> <br />B.12. As security for the loan to be made to it by the <br />State, execute a warranty deed which shall convey to <br />the State the following: <br /> <br />An undivided eighty percent (80\) of the fOllowing: <br /> <br />a. 60 feet plus or minus of toe key drain. <br /> <br />b. 360 square yards plus or minus of spillway <br />filter blanket. <br /> <br />c. 360 square yards plus or minus of spillway <br />riprap. <br /> <br />d. 175 linear feet plus or minus of 12-inch PVC <br />pipe. <br /> <br />e. 120 linear feet plus or minus of a-inch PVC pipe. <br /> <br />f. A 12-inch outlet pipe and valve box. <br /> <br />g. Three ditch control structures. <br /> <br />h. One outlet energy dissipator. <br /> <br />i. 7.000 cubic yards plus or minus of embankment <br />fill material. <br /> <br />j. 3' 011 X O' Bit X 21 8" of spillway cutoff wall. <br /> <br />K. A lO-inch sluice gate with stern. encasing pipe. <br />hand wheel. pedestal. and other appurtenances. <br />including a 3'-4"X2'-O" steel trash rack. <br /> <br />D.I. Loan to the Contractor for the construction of the <br />project an amount not to exceed Ninety Thousand <br />Three Hundred Sevenry-Five Dollars ($90.375). Said <br />Ninety Thousand Three Hundred Seventy-Five Dollars <br />($90.375) shall be made available to the Contractor <br />in accordance with the fallowing terms and <br />conditions: <br /> <br />a. Beginning with the monthly periOd commencing <br />July 13. 1988. and for every month thereafter until <br />said project has been completed. the Contractor <br />shall prepare. with the assistance of the Consultant <br />refe~red to in paragraph B.l. above. an estimate of <br />the funds required from the State for project <br />construction during that month and shall forward <br />said estimate to the State not less than fifteen <br />(IS) days prior to the beginning of such month. <br /> <br />b. Upon receipt and approval by the State of such <br />monthly estimate. the State will. within forty (40) <br />Gays from the receipt of such estimate. pay over to <br />the Contractor the amount of the monthly estimate or <br />such portion thereof as has been approved by the <br />6tate. <br /> <br />~. No payments will be made under this contract <br />until the project plans and specifications referred <br />tD in paragraph B.l. above are approved by the State. <br /> <br />4. Project construction costs eligible for payment <br />Py the State Shall be limited to the cost of: <br /> <br />paQe ~ of ~ pages <br />