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<br />4. Complete Integration Of All Understandings. This ayreement is intended as the <br />complete integration of all understandings between the parties. No prior or <br />contemporaneous addition, deletion, or other amendment hereto shall have any force or <br />effect whatsoever unless embodied herein in writing. No subsequent novation, renewal, <br />addition, deletion, or other amendment hereto shall have any force or effect unless <br />embodied in a written contract executed and approved pursuant to STATE fiscal rules, with <br />the exception of the Revision Letter as described in the Changes Provision of this <br />contract. <br /> <br />5. Eligible Expenses. PROJECT costs eligible for financing and/or refinancing by the STATE <br />shall be limited to the 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 assesSn1ent or environmental impact statements, and <br />otherwise complying with the Federal National Environmental Policy Act. <br /> <br />d. Complying with all federal, state, and local regulatory requirements, including the <br />obtaining of all required permits. <br /> <br />e. Fish and wildlife mitigation measures required by federal, state, or local laws and <br />regulations. <br /> <br />f. Actual construction as called for in the design documents and in change orders <br />approved by 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, <br />reviewing construction contract documents, and for complying with all federal, state, <br />and local regulatory requirements. Legal services must be approved by the ST.';TE in <br />writing and in advance to be eligible for financing by the STATE. <br /> <br />6. STATE May Release Contract. In its sole discretion, the STATE may at any time give any <br />consent, deferment, subordinationr release, satisfaction, or termination of any or all of the <br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms <br />and conditions as the STATE may determine to be advisable to further the purposes of this <br />contract or to protect the STATE'S financial interest therein, and consistent with both the <br />statutory purposes of this contract and the limitations of the statutory authority under <br />which it is made. <br /> <br />7. 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, <br />including buildings or any portion thereof, are damaged or destroyed, in whole or in part, <br />by fire or other casualty, or (b) title to or use of the PROJECT facilities or any part thereof <br />shall be taken under the exercise of the power of eminent domain, the BORROWER shall <br />cause the net proceeds of any insurance claim or condemnation award to be applied to <br />the prompt replacement, repair and restoration of the PROJECT facilities or any portion <br />thereof. Any net proceeds remaining after such work has been completed shall be paid <br />to the BORROWER. If the net proceeds are insufficient to pay the full cost of the <br /> <br />Pinon Mesa Ranches Community Association <br /> <br />Page 9 of 13 <br /> <br />Loan Contract <br />