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<br />b, The BORROWER warrants that it has not employed or retained any company or
<br />person, other than a bona fide employee working solely for the BORROWER, to solicit
<br />or secure this contract and has not paid or agreed to pay any person, company,
<br />corporation, individual, or firm, other than a bona fide employee, any fee,
<br />commission, percentage, gift, or other consideration contingent upon or resulting
<br />from the award or the making of this contract
<br />
<br />c, The BORROWER warrants that the collateral for this loan is not encumbered by any
<br />other deeds of trust or liens of any party other than the CWCB or in any other
<br />manner, except for any pre-existing lien(s) identified in Section 5 (Schedule of
<br />Existing Debt) of the Project Summary, which sets forth the position of the lien
<br />created by this contract in relation to that pre-existing lien, Documentation
<br />establishing the relative priorities of said liens, if necessary, is attached to the Project
<br />Summary and incorporated herein,
<br />
<br />10. Change of Ownership of Water Shares During Term of Contract. If the interest
<br />rate for this loan is based on the CWCB's agricultural or blended agricultural and
<br />municipal rates, the BORROWER agrees to notify the STATE of any change of the
<br />ownership of the water rights represented by its shares from irrigation to municipal or
<br />commercialfindustrial use. The interest rate shall be revised when said rate would
<br />increase the original interest rate by 0,5% or more, The parties shall amend this
<br />contract, including a revised promissory note, to effect said change in interest
<br />
<br />11, Remedies For Default. Upon default in the payments to be made by the BORROWER
<br />under this contract, or if the BORROWER fails to comply with any provision of this contract,
<br />the CWCB, at its option, may: .
<br />
<br />a, suspend this contract and withhold further loan disbursements pending corrective
<br />action by the BORROWER, and if the BORROWER does not cure the default as provided
<br />for below, permanently cease loan disbursements and deem the PROJECT
<br />substill1tially complete;
<br />
<br />b. declare the entire principal amount, accrued interest, and late charges, if any, then
<br />outstanding immediately due and payable;
<br />
<br />c, exercise its rights under any appendices to this contract, including, but not limited to,
<br />the Promissory Note, Security Agreement, Assignment of Certificate of Deposit,
<br />and/or Deed of Trust; and/or
<br />
<br />d, take any other appropriate action,
<br />
<br />The CWCB shall provide written notice to the BORROWER of any such default and shall
<br />give the BORROWER an opportunity to cure within thirty (30) days of receipt of such
<br />notice, All remedies described herein may be simultaneously or selectively and
<br />successively enforced, The CWCB may enforce the provisions of this contract at its
<br />option without regard to prior waivers of previous defaults by the BORROWER, through
<br />judicial proceedings to require specific performance of this contract, or by such other
<br />proceedings in law or equity as may be deemed necessary by the CWCB to ensure
<br />compliance with provisions of this contract and the laws and regulations under which this
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<br />Loan Contract
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