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Mcbillin Real Estate Investment -2- AUG U 1 2012 <br /> Claim No . 019788 <br /> step is to issue a Letter of Commitment (LOC) obligating funds to the project when <br /> funding is available . The issuance of LOCs is dependent on available funds and the <br /> closure of existing claims . <br /> Allocation of Funds: Prior to issuing an LOC , Fund Technical Staff will conduct a review <br /> of your claim and information in GeoTracker. Based on this review, your claim will be <br /> categorized according to the cleanup phase being conducted at the site. A funding cap <br /> will be established for your claim . <br /> Claim Budget: All active Priority Class A, B and C claims must have an annual site <br /> budget prior to receiving an LOC . The budget is based on the site-specific needs of the <br /> claim , the Fund 's projected annual revenue , local regulatory priorities, and direction <br /> from the State Water Resources Control Board . Information regarding site budgets is <br /> available on the Fund 's website . <br /> Compliance Review: When funding is available for your claim , staff will conduct an <br /> extensive Compliance Review in coordination with the local regulatory agency or <br /> Regional Water Quality Control Board . If the claim is found to be in compliance with <br /> regulatory agency directives , an LOC will be issued . If staff determines that you have <br /> not complied with regulations governing site cleanup , the claim may be suspended . <br /> Your claim will be barred from further participation in the Fund , if the claim application <br /> contains a material error resulting from fraud or misrepresentation . <br /> Reimbursement: You will be required to submit the following information in order to <br /> receive reimbursement of costs: ( 1 ) copies of detailed invoices for all corrective action <br /> activity performed (including subcontractor invoices) , (2) copies of technical documents <br /> (bids , narrative work description , reports) , and (3) evidence that the claimant paid for <br /> the work performed (not paid by another party) . It is not necessary to submit these <br /> documents until an LOC has been issued . Failure to submit the required documents <br /> could impact the amount of reimbursement. Do not wait until you receive your LOC <br /> to gather this information. <br /> Record keeping : All cleanup projects are subject to audit at any time . Maintain an <br /> accurate record-keeping and financial management system that provides efficient <br /> accountability of all funds used to clean up the site. Records must be retained for at <br /> least three years after the final reimbursement, unless there is an ongoing audit. If <br /> there is an ongoing audit, the retention period shall be extended until the audit is <br /> complete . <br /> Compliance with Corrective Action Requirements: In order to be reimbursed for your <br /> eligible costs f cleanup incurred after December 2 1991 you must have complied with <br /> 9 q P . Y p <br /> corrective action requirements of Article 11 , Chapter 16 , Division 3 , Title 23 , California <br /> Code of Regulations. Article 11 categorized the corrective action process into phases. <br /> California Environmental Protection Agency <br /> C�* Recycled Paper <br />