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<br />and/or <br /> <br />d. take any other appropriate action. <br /> <br />The CWCB shall provide written notice to the BORROWER of any such default and shall <br />give the BORROWER an opportunity to cure within thirty (30) days of receipt of such <br />notice. All remedies described herein may be simultaneously or selectively and <br />successively enforced. The CWCB may enforce the provisions of this contract at its <br />option without regard to prior waivers of previous defaults by the BORROWER, through <br />judicial proceedings to require specific performance of this contract, or by such other <br />proceedings in law or equity as may be deemed necessary by the CWCB to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The CWCB's exercise of any or all of the remedies <br />described herein shall not relieve the BORROWER of any of its duties and obligations <br />under this contract. <br /> <br />11. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liability to the <br />CWCB, manage, operate and maintain the PROJECT continuously in an efficient and <br />economical manner. <br /> <br />12. BORROWER'S Liability Insurance. <br /> <br />a. Upon execution of this contract and continuing until complete repayment of the loan <br />is made to the CWCB, the BORROWER shall maintain general liability insurance with <br />minimum limits of $1,000,000 combined single limit for each occurrence and <br />$2,000,000 general aggregate, including products/completed operations and <br />personal injury. <br /> <br />b. Because the BORROWER is a "public entity" within the meaning of the Colorado <br />Governmental Immunity Act, CRS 24-10-101, et seq., as amended ("Act"), the <br />BORROWER shall at all times maintain such liability insurance, by commercial policy <br />or self-insurance as is necessary to meet its liabilities under the Act. <br /> <br />c. Prior to the disbursement of any loan funds, the BORROWER shall provide the CWCB <br />with an Acord Form 27 or other form satisfactory to the CWCB evidencing said <br />insurance and shall provide the CWCB with documentation of renewals of said <br />insurance. <br /> <br />13. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 6) of the Project Summary. <br /> <br />B. PROJECT PROVISIONS <br /> <br />1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br />BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 7) of the Project Summary. <br /> <br />2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for <br />loan disbursements are listed in Eligible Expenses (Section 8) of the Project <br />Summary. <br /> <br />Page 5 of 10 <br />