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percent (100%) interest in the Project which consists of the headgate and <br />approximately 11 miles of ditch, located in Larimer County, Colorado, as more <br />particularly described in the attached Deed of Trust ("Collateral"). <br />SECTION 7— ADDITIONAL CONTRACT REQUIREMENTS <br />No additional Board requirements. <br />SECTION 8— CONSTRUCTION FUND PROGRAM PROCEDURES <br />A. The BoRROwER shall employ an engineer, registered in the state of Colorado to <br />prepare plans and specifications for the PRO�ECT. <br />B. The BORROwER and the Engineering Consultant's Agreements and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance <br />with the terms of this Contract when available prior to bidding. Any modifications to <br />the plans and specifications must be approved in writing by the CWCB staff. <br />C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by <br />§ 37-87-105 C.R.S., the BoRROwER shall provide a letter of approval from the State <br />Engineer's Office prior to construction. <br />D. CWCB staff must be present at bidding and must approve the award of the <br />construction contract. <br />E. The BoRROwER shall contract for the construction of the work with responsible and <br />capable Construction Firms, which said Construction Firms shall be selected by the <br />BoRROwER and found acceptable by the CWCB staff. <br />F. The BORROWER must provide a copy of the executed construction contract <br />documents consisting of the contractor's proposal, construction contract, <br />performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order, as well as the advertisement for bid and bid <br />bond at bidding. After fhe CWCB staff verifies that these documents comply with <br />the terms of this contract, the BoRROwER may issue the notice to proceed to the <br />Construction Firms. <br />G. The BoRROwER shall conduct a pre-construction conference at which time the <br />GWCB staff shall have the opportunity to review and approve the construction <br />schedule. <br />H. If the CWCB staff determines that the PRO�ECT requires a resident inspector during <br />construction, the BoRROwER shall employ an inspector who has been approved by <br />the CWCB staff. <br />I. The BoRROwER shall construct the PRO�ECT in accordance with the approved plans <br />and specifications. <br />J. Upon completion of the PRO�ECT construction, the BoRROwER shall provide as-built <br />drawings of the PRO�ECT to the CWCB staff, or, if required by § 37-87-105, C.R.S., <br />the BoRROwER shall provide the as-built drawings to the State Engineer's Office for <br />approval and filing. <br />K. Upon completion of the PRO�ECT construction, the BoRROwER shall arrange a final <br />inspection for the CWCB staff. <br />Page 2 of 3 <br />