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<br />, <br /> <br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms and <br />conditions as the STATE may determine to be: <br /> <br />a. advisable to further the purposes of this contract or to protect the STATE'S financial interest <br />therein, and <br /> <br />b. consistent with both the statutory purposes of this contract and the limitations of the <br />statutory authority under which it is made. <br /> <br />7. Casualty and eminent domain. If, at any time, during the term of this contract, (a) the <br />BORROWER'S PROJECT facilities and/or property pledged as collateral for this loan, including buildings <br />or any portion thereof, are damaged or destroyed, in whole or in part, by fire or other casualty, or <br />(b) title to or use 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 insurance claim or <br />condemnation award to be applied to the prompt replacement, repair and restoration of the PROJECT <br />facilities or any portion thereof. Any net proceeds remaining after such work has been completed <br />shall be paid to the BORROWER. If the net proceeds are insufficient to pay the full cost of the <br />replacement, repair and restoration, the BORROWER shall complete the work and pay any cost in <br />excess- of the net proceeds. <br /> <br />8. Waiver. The waiver of any breach of a term of this of this contract shall not be construed <br />as a waiver of any other term, or of any subsequent breach of the same term. <br /> <br />9. Captions. The captions and headings contained in this contract are for convenience and <br />reference only and shall not be construed So 'as to define or limit the terms or provisions contracted <br />herein. <br /> <br />10. STATE'S approval. This contract requires review and approvB.4I"~ncifications, and <br />various other technical and legal documents. The STATE'S review of these docuRs is only for the <br />purpose of verifying BORROWER'S compliance with this contlC.lid "E~~ construed or <br />interpreted as a technical review or approval of the actual delgb"r c.rs1 in.. the PROJECT <br />rehabilitation. Notwithstanding any consents or approvals given to the BORR e STATE on <br />any such documents, BORROWER and its CONSULTANT preparing any such documents shall be solely <br />responsible for the accuracy and completeness of any of the construction documents. <br /> <br />11. Addresses for mailing. All notices, correspondence, or other documents required by this <br />contract shall be delivered or mailed to the following addresses: <br /> <br />For the STATE: <br /> <br />For the BORROWER: <br /> <br />Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />Attn: Construction Fund Section <br /> <br />Windsor Reservoir and Canal Company <br />P. O. Box 106 <br />Eaton, Colorado 8061 5 <br />Attn: Donn Engel, Secretary <br /> <br />D. Special provisions (1993 version) <br /> <br />1. Controller's approval. This contract shall not be deemed valid until it shall have been approved by the <br />Controller of the State of Colorado or such assistant as he may designate. This provision is applicable to any <br />contract involving the payment of money by the STATE. <br /> <br />2. Fund availability. financial obligations of the State of Colorado payable after the current fiscal year <br />are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available. <br /> <br />Windsor Reservoir and Canal Company <br /> <br />Page 9 of 1 2 <br /> <br />Loan Contract <br />