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<br />27 evidencing said insurance prior to commencement of construction, maintained until <br />construction is complete, and shall provide the CWCB with documentation of renewals of <br />said insurance. No payments shall be made to the BORROWER unless all insurance <br />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 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 hired <br />vehicles with minimum limits of $1,000,000 combined single limit for bodily injury and <br />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 permit a <br />designated representative of the CWCS to make periodic inspections of the PROJECT. Such <br />inspections shall cover the condition of the PROJECT, operating records, maintenance <br />records, and financial records. These inspections are solely for the purpose of verifying <br />compliance with the terms and conditions of this contract and shall not be construed nor <br />interpreted as an approval of the actual design, construction or operation of any element of <br />the PROJECT facilities. <br /> <br />2. Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state, and <br />local laws and regulations that are in effect or may hereafter be established throughout the <br />term of this contract. <br /> <br />3. De!;ignated Agent Of The CWCB. The CWCS's employees are designated as the agents <br />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 between <br />them under this contract is that of lender-borrower, not employer-employee. No agent, <br />employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, <br />agent, or servant of the CWCB. The BORROWER shall be solely and entirely responsible for <br />its acts and the acts of its agents, employees, servants, engineering firms, construction <br />firms, and subcontractors during the term of this contract. <br /> <br />6. Integration of Terms. This contract is intended as the complete integration of all <br />understandings between the parties. No prior or contemporaneous addition, deletion, or <br />other amendment hereto shall have any force or effect whatsoever unless embodied herein <br />in writing. No subsequent novation, renewal, addition, deletion, or other amendment hereto <br />shall have any force or effect unless embodied in a written contract executed and approved <br />pursuant to STATE fiscal rules, unless expressly provided for herein. <br /> <br />7. Controlling Terms. In the event of conflicts or inconsistencies between the terms of this <br /> <br />Page 6 of 9 <br />