33.Costs for upgrading and widening State Highway 24

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Finance SIB # Sulphur River Regional Mobility Authority (Delta, Hunt, and Lamar Counties) of the State. All draws from the Project Account for costs related to the Project shall be in accordance with a requisition prepared by or approved by the Authority, and all such requisitions and Project costs shall be subject to the review and approval of the State. F. The Authority shall establish at its depository bank a SIB Loan Debt Service Account. Interest Payments due on the SIB Loan and each Principal Payment due on the SIB Loan shall be deposited into this account by the Authority prior to each Payment Date as provided in the Interlocal Cooperative Agreement. On or before each Payment Date, the Authority shall cause its depository bank to transfer from the SIB Loan Debt Service Account to the State, the applicable Interest Payment and/or Principal Payment as set forth in this Agreement. G. The repayment of all or any portion of the SIB Loan shall not entitle the Authority to any subsequent advances from the State, nor shall the State have any obligation to advance to or for the benefit of the Authority any amount in excess of the SIB Loan. All costs of the Project in excess of the SIB Loan shall be the responsibility of the Authority and as set forth in the Interlocal Cooperative Agreement. H. Principal due on the SIB Loan may be prepaid by the Authority without penalty, in whole or in part, on any Payment Date, or if such Payment Date is not a business day, on the next following business day. Any prepayment of principal made pursuant to this Paragraph H or pursuant to Article 3, Paragraph F or Article 4, Paragraph C hereof (each such Paragraph regarding the return of proceeds not expended), must be made on a Payment Date or if such Payment Date is not a business day, on the next following business day. Upon receipt of a prepayment of a portion (and not the whole) of the outstanding principal amount of the SIB Loan from the Authority: (1) the State shall apply such prepayment to the outstanding Principal Payments, in inverse order of Principal Payment Date, (2) Exhibit D will be revised by the State to reflect the remaining Principal Payments and the revised Interest Payments due, whether upon prepayment or in the event that not all of the Authority's committed $4,500,000 is required to pay the Authority's costs of the Project; and (3) such revised Exhibit D shall be submitted to the Authority to be attached to and become an integral part of this Agreement. 1. Payments not received by the applicable Payment Date will bear interest at the Loan Rate (with overdue interest as well as overdue principal bearing interest) until paid. Such additional interest shall be calculated by the State on the basis of a 360-day year composed of 12 30-day months. The State may prepare a revised Exhibit D (amortization table) showing the increase in interest due resulting from late payment, termination or misappropriation under Article 5 hereof, default under Article 6 hereof, or pursuant to other terms and conditions of this Agreement. J. If after the effective date of this Agreement, the Deposit Date is revised as provided in paragraph B of this Article, the State will prepare a revised Exhibit D (amortization table) showing changes in the Payment Dates and amounts due thereon under this Agreement. If by [October 10], the Authority has failed to submit notification to the State under 95447991.8 Pa9 f 14