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<br />purpose of verifying compliance with the terms and conditions of this contract and shall <br />not be construed nor interpreted as an approval of the actual design, construction or <br />operation of any element of the PROJECT facilities <br /> <br />2. Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state, <br />and local laws and regulations that are in effect or may hereafter be established <br />throughout the term of this contract. <br /> <br />3. Designated Agent Of The CWeB. The CWCB's employees are designated as the <br />agents of the CWCB for the purpose of this contract.. <br /> <br />4. Assignment. The BORROWER may not assign this contract except with the prior <br />written approval of the CWCB. <br /> <br />5. Contract Relationship. The parties to this contract intend that the relationship <br />between them under this contract is that of lender-qorrower; not employer-employee. <br />No agent, employee, or servant of the BORROWER shall be, or shall be deemed to be, <br />an employee, agent, or servant of the eWCB. The BORROWER shall be solely and <br />entirely responsible for its acts and the acts of its agents, employees, servants, <br />engineering firms, construction firms, and subcontractors during the term of this <br />contract. <br /> <br />6. Integration Of Terms. This contract is intended as the complete integration of all <br />understandings between the parties. No prior or contemporaneous addition, deletion, <br />or other amendment hereto shall have any force or effect whatsoever unless <br />embodied herein in writing. No subsequent novation, renewal, addition, deletion, or <br />other amendment hereto shall have any force or effect unless embodied in a written <br />contract executed and approved pursuant to STATE fiscal rules, unless expressly <br />provided for herein. <br /> <br />7. Controlling Terms. In the event of conflicts or inconsistencies between the terms of <br />this contract and conditions as set forth in any of the appendices, such conflicts or <br />inconsistencies shall be resolved by reference to the documents in the following order <br />of priority: (1) Colorado Special Provisions, (2) the remainder of this contract, and (3) <br />the Appendices. <br /> <br />8. Casualty and Eminent Domain. If, at any time, during the term of this contract, <br />(a) the BORROWER'S PROJECT facilities including buildings or any portion thereof, are <br />damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use <br />of the PROJECT facilities or any part thereof shall be taken under the exercise of the <br />power of eminent domain, the BORROWER shall cause the net proceeds of any <br />insurance claim or condemnation award to be applied to the prompt replacement, <br />repair and restoration of the PROJECT facilities or any portion thereof, or to repayment <br />of this loan. Any net proceeds remaining after such work has been completed or this <br />loan has been repaid, shall be retained by the BORROWER. If the net insurance <br />proceeds are insufficient to pay the full cost of the replacement, repair and restoration, <br />the BORROWER shall complete the work and pay any cost in excess of the net <br />proceeds. In the event BORROWER chooses to repay the loan, BORROWER shall remain <br />responsible for the full loan amount outstanding regardless of the amount of such <br />insurance proceeds or condemnation award. <br /> <br />Page 7 of 10 <br />