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City of Santa Ana <br />Agreement No.: D2201000 <br />Project No.: C-06-8478-1 10 <br />Page 6 of 48 <br />"Obligation" means the obligation of the Recipient to make Payments (including Additional Payments) as <br />provided herein, as evidenced by the execution of this Agreement, proceeds of such obligations being <br />used to fund the Project as specified in the Project Description in Exhibit A and Exhibit B and in the <br />documents thereby incorporated by reference. <br />"Operations and Maintenance Costs" means the reasonable and necessary costs paid or incurred by the <br />Recipient for maintaining and operating the System, determined in accordance with GAAP, including all <br />reasonable expenses of management and repair and all other expenses necessary to maintain and <br />preserve the System in good repair and working order, and including all reasonable and necessary <br />administrative costs of the Recipient that are charged directly or apportioned to the operation of the <br />System, such as salaries and wages of employees, overhead, taxes (if any), the cost of permits, licenses, <br />and charges to operate the System and insurance premiums; but excluding, in all cases depreciation, <br />replacement, and obsolescence charges or reserves therefor and amortization of intangibles. <br />"Parity Obligation" means a debt obligation of the Recipient on parity with this Obligation. There are no <br />Parity Obligations. <br />"Payment" means any payment due to the State Water Board from the Recipient pursuant to this <br />Agreement. <br />"Policy" means the State Water Board's "Policy for Implementing the Clean Water State Revolving Fund," <br />as amended from time to time, including the Intended Use Plan in effect as of the execution date of this <br />Agreement. <br />"Project" means the Project financed by this Agreement as described in Exhibits A and B and in the <br />documents incorporated by reference herein. <br />"Project Completion" means the date, as determined by the Division after consultation with the Recipient, <br />that operation of the Project is initiated or is capable of being initiated, whichever comes first. <br />"Project Costs" means the incurred costs of the Recipient which are eligible for financial assistance under <br />this Agreement, which are allowable costs as defined under the Policy, and which are reasonable, <br />necessary and allocable by the Recipient to the Project under GAAP, and may include capitalized <br />interest. <br />"Project Funds" means all moneys disbursed to the Recipient by the State Water Board for eligible Project <br />Costs pursuant to this Agreement. <br />"Recipient" means City of Santa Ana. In any provision of this Agreement referencing duties undertaken <br />by the Authority on behalf of the Recipient, the term "Recipient" shall also refer to the Authority. <br />"Records Retention End Date" means the last date that the Recipient is obligated to maintain records and <br />is set forth on the Cover Page of this Agreement. <br />"Regional Water Quality Control Board" or "Regional Water Board" means the appropriate Regional Water <br />Quality Control Board. <br />"Reimbursement Resolution" means the Recipient's reimbursement resolution identified and incorporated <br />by reference in this Agreement. <br />"Reserve Fund" means the reserve fund required pursuant to Exhibit B of this Agreement. <br />CWSRF/DWSRF 29vi2022 <br />