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<br />. . <br /> <br />e <br /> <br />e <br /> <br />insured endorsement, and shall provide the CWCB with documentation of renewals of <br />said insurance. The CWCB will not disburse any loan funds without evidence of said <br />insurance coverage. Throughout the life of this contract, the CWCB reserves the right to <br />increase the above amount of insurance so that said amounts at a minimum correspond <br />to the amount established by the Colorado Governmental Immunity Act, now and as <br />hereafter amended. <br /> <br />8, CONSTRUCTION PROVISIONS <br /> <br />1. Construction Fund Program Procedures. During the completion of the Project, the <br />BORROWER shall adhere to the following guidelines for completion of the project. <br /> <br />a. The BORROWER shall employ an engineer, registered in the State of Colorado, <br />hereinafter referred to as the CONSULTANT, to prepare plans and specifications for the <br />PROJECT. <br /> <br />b. The agreement between the BORROWER and the CONSULTANT and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance with <br />the terms of this contract prior to bid opening, Any modifications to the plans and <br />specifications must be approved in writing by the CWCB staff. <br /> <br />c. For plans and specifications for all jurisdictional dams and reservoirs, as defined by S <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 /> <br />d. eWCB staff must be present at bid opening and must approve the award of the <br />construction contract. <br /> <br />e. The BORROWER shall contract for the construction of the work with responsible and <br />capable firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION <br />FIRMS shall be selected by the BORROWER and found acceptable by the CWCB staff <br />before work under this contract begins. <br /> <br />f. The BORROWER must provide a copy of the executed construction contract documents <br />consisting of the advertisement for bid, contractor's proposal, construction contract, <br />bid bond, performance bond, payment bond, notice of award, notice to proceed, <br />sample change order, and sample field order. After the CWCB staff verifies that these <br />documents comply with the terms of this contract, the BORROWER may issue the notice <br />to proceed to the CONSTRUCTION FIRMS, <br /> <br />g. The BORROWER shall conduct a pre-construction conference at which time the CWCB <br />staff shall have the opportunity to review and approve the construction schedule. <br /> <br />h. If the CWCS staff determines that the PROJECT requires a resident inspector during <br />construction, the BORROWER shall employ an inspector who has been approved by the <br />ew CB staff. <br /> <br />i. The BORROWER shall construct the PROJECT in accordance with the approved plans <br />and specifications. <br /> <br />Page 6 of 13 <br /> <br />Loan Contract <br />