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<br />violation of any statute, ordinance, or regulation, and the defense of any such claims or <br />actions. <br /> <br />6. Liability Insurance During Construction. During construction of the PROJECT, the <br />BORROWER shall require the construction firm(s) and any subcontractors to maintain the <br />following insurance coverage in the limits shown during the term of their contracts for <br />the construction of the PROJECT. The BORROWER shall provide the CWCB with an <br />Acord Form 27 evidencing said insurance prior to commencement of construction, <br />maintained until construction is complete, and shall provide the CWCB with <br />documentation of renewals of said insurance. No payments shall be made to the <br />BORROWER unless all insurance certificates are current. <br /> <br />a. Builder's risk insurance for construction in progress for all perils of loss including fire, <br />wind, hail, and vandalism in an amount equal to the completed value of the <br />PROJECT. <br /> <br />b. Worker's compensation and employer's liability insurance in the required statutory <br />amounts. <br /> <br />c. Automobile liability insurance that includes coverage for all owned, non-owned and <br />hired vehicles with minimum limits of $1,000,000 combined single limit for bodily <br />injury and property damage. <br /> <br />d. Commercial general liability insurance with minimum limits of $1,000,000 combined <br />single limit for each occurrence and $2,000,000 general aggregate. This insurance <br />coverage shall include products/completed operations and bodily injury/property <br />damage. <br /> <br />C. GENERAL PROVISIONS <br /> <br />1. Periodic Inspections. Throughout the term of this contract, the BORROWER shall <br />permit a designated representative of the CWCB to make periodic inspections of the <br />PROJECT. Such inspections shall cover the condition of the PROJECT, operating records, <br />maintenance records, and financial records. These inspections are solely for the <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 CWCB. 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 written <br />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-borrower, not employer-employee. <br /> <br />Loan Contract C150220 <br />Page 6 of 11 <br />