Public Works Board Loan Contract Number PC23-96103-132

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DocuSign Envelope I D: 22 1 BBTAE-8D32-45F 2-81 A8-FA7F96A7 1 7 1 0 Should the Contractor submit the Certified Project Completion Report within forty-eight (a8) months of the date of Contract execution, the Contractor may choose one of the two following incentives upon project completion: Option A: The repayment period will be increased by twenty-four (24) months, not to exceed the life of the asset, OR: Option B: The interest rate will be decreased by one-quarter of one percent (0.250 ). Should the Contractor submit the Certified Project Completion Report within thirty-six (36) months of the date of Contract execution, the Contractor may choose one of the following two incentives upon project completion: Option C: The repayment period will be increased by sixty (60) months, not to exceed the life of the asset, OR; Option D: The interest rate will be decreased by up to one-half of one percent (0.50%). Once an option is selected, the Contract shall be modified to note the appropriate change and no further adjustment to the Contract for Performance lncentives shall be authorized. lrrespective of the performance incentive chosen, at no point in time shall the minimum loan interest rate be less than 0.25o/o. The calculation of interest rate and term adjustments will apply to the remaining payments beginning from the date the Project Completion report is certified. 1.13 Proiect Gompletion Amendment and Certified Proiect Completion Report The Contractor shall complete a Certified Project Completion Report when all activities identified in the SCOPE OF woRK are complete. The BOARD will supply the Contractor with the Certified Project Completion Report form, which shall include: A. A certified statement that the project, as described in the declared SCOPE OF WORK, is complete and, if applicable, meets required standards. B. A certified statement of the actual dollar amounts spent, from all funding sources, in completing the project as described in the SCOPE OF \VORK. C. Certification that all costs associated with the project have been incurred and have been accounted for. Costs are incurred when goods and services are received and/or Contract work is performed. D. A final voucher for the remaining eligible funds. E. Pictures of Completed Project. The Contractor will submit the Certified Project Completion Report together with the last lnvoice Voucher for a sum not to exceed the balance of the loan amount. The final lnvoice Voucher payment shall not occur prior to the completion of all project activities identified in the SCOPE OF VORK and the BOARD's receipt and acceptance of the Certified Project Completion Report. The Project Completion Amendment shall serve as an amendment to this Contract determining the final loan amount, local share, term, and interest rate. 1.14 Proiect Siqns lf the Contractor displays, during the period covered by this Contract, signs or markers identifoing those agencies participating financially in the approved project, the sign or marker must identifo the Washington State Public Works Board as a participant in the project. 4