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of principal forgiveness to the City in an amount not to exceed $961,821 as <br /> Principal Forgiveness Funds without the expectation of repayment. <br /> C. The TWDB and the City enter this Agreement to memorialize and set forth the terms <br /> and conditions for the Principal Forgiveness Funds in an amount not to exceed <br /> $961,821. The Executive Administrator is authorized to execute this Agreement on <br /> behalf of the TWDB pursuant to the TWDB Resolution, which is attached to this <br /> Agreement as EXHIBIT A. The City is authorized to execute this Agreement through <br /> its authorized representative designated in a resolution duly adopted by the <br /> governing body of the City, a copy of which is attached hereto as EXHIBIT B. <br /> D. Nothing in this Agreement supersedes or affects any provisions of the Obligations <br /> relating to the Financial Assistance amount not forgiven. <br /> ARTICLE III. LEGAL REQUIREMENTS <br /> 3.01. APPLICABLE LAWS. In consideration of the performance of the mutual agreements <br /> set forth in this Agreement, the City, by and through its designated and authorized <br /> representatives, agrees to plan, design, and construct the Project in compliance with the <br /> following: <br /> A. the Federal Water Pollution Control Act, 33 U.S.C. §§ 1251 et seq., and EPA <br /> regulations at 40 CFR Part 35; <br /> B. all federal laws and regulations identified on EXHIBIT C; <br /> C. Texas Water Code, Chapter 15, §§ 15.601 - 15.618; and <br /> D. 31 TAC Chapter 375. <br /> 3.02. LABOR STATUTES AND REGULATIONS. The City agrees to comply with the <br /> following statutes and regulations, and shall execute the certifications required by the <br /> TWDB related to same. Further, the City shall ensure that each contract for work on the <br /> Project shall also contain the following requirements. <br /> A. Equal Employment Opportunity. The City shall comply with Executive Order 11246 <br /> of September 24, 1965, entitled "Equal Employment Opportunity," as amended by <br /> Executive Order 11375 of October 13, 1967, and U.S. Department of Labor <br /> regulations at 41 CFR Chapter 60, relating to Office of Federal Contract Compliance, <br /> EEO. The City shall include this provision in any contract or subcontract in excess of <br /> $10,000 as required by 40 CFR§ 31.36. <br /> B. Davis-Bacon Act Wage Rates. In accordance with the Federal Water Pollution <br /> Control Act,33 U.S.C. §§ 1251 et seq., and the applicable IUP and TWDB Guidance on <br /> Davis-Bacon Wage Rate Requirements, the City, its contractors and its <br /> TWDB Commitment No.L1000601 <br /> Page 4 of 14 <br />