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4 <br />all real property, (including easements), for the project covered by this loan, and any resulting <br />relocation of persons, businesses, or farm operations, See Assurance 8. <br />5. Prompt Payment and Payment Retainage: <br />It is the policy of the State of North Carolina to make timely periodic loan disbursements to the <br />recipient, and to require the recipient to make prompt periodic payment on subagreements. <br />Partial disbursements on this loan will be made promptly upon request, subject to adequate <br />documentation of incurred eligible costs, and subject to the recipient's compliance with the <br />conditions of this loan and subsequent amendments; <br />(a) The recipient agrees to make prompt payment to its contractor, and to retain only such <br />amount as allowed by North Carolina General Statute. <br />(b) The recipient agrees to include appropriate provisions in each construction contract, and to <br />require the prime contractorrto include them in all subcontracts, to implement this prompt <br />payment requirement. <br />6. The construction contract(s) requires the contractor to adhere to Davis Bacon and Related Acts <br />Provisions and Procedures as listed in the Code of Federal Regulations Chapter 29 Part 5 Section 5 (29 <br />CfR 5.5). Public Law pertaining to this is also enacted in Title 40, United States-Code, Subtitle II Section <br />3141 through Section 3148. <br />ASSURANCES <br />1. The recipient acknowledges that in the event that a milestone contained in the most recent Clean Water <br />State Revolving Fund Intended -Use Plan and/or the Notice of Intent to Fund is not met, this State Loan or <br />Grant offer may be rescinded by the Department of Environment and Natural Resources. <br />2. The final plans and specifications -have or will be approved by the Division of Water Quality and the <br />applicant so notified, prior to the project being advertised or placed on the market for bids. <br />3. _Eligible project expenses are as discussed in the North Carolina Clean Water SRF Program Guidance. <br />Projects will not receive reimbursement for sales taxes. Sales taxes are deducted from project costs at the <br />90% milestone in accordance with the SRF Program Guidance. <br />4. The applicant agrees to construct the project or cause it to be constructed to final completion in <br />accordance with the application and-plans and specifications approved by the Division of Water Quality. <br />5. The construction contract(s) requires the contractor to furnish performance and payment bonds, each of <br />which is in an amount of not less than one hundred percentum (100%) of the contract price; and to <br />maintain during the life of the contract(s) adequate fire, extended coverage, workmen's compensation, <br />public liability, and property damage insurance. <br />6. The construction of the project, including the letting of contracts in connection therewith, conforms to the <br />applicable requirements of State and local laws and ordfinances. <br />7. Any change or changes in the approved plans and specifications or contract(s) which (has/have) made or <br />will make any major alteration in the work required by the plans and specifications, orwhich increases the <br />