|
<br />limit for each occurrence and $2,000,000 general aggregate. This insurance coverage shall
<br />include products/completed operations and bodily injury/property 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 CWCB to make periodic inspections of the PROJECT. Said
<br />inspections shall cover the condition of the PROJECT, operating records, maintenance records,
<br />and financial records. These inspections are solely for the purpose of verifying compliance with
<br />the terms and conditions of this contract and shall not be construed nor interpreted as an
<br />approval of the actual design, construction or operation of any element of the PROJECT facilities.
<br />
<br />2. Adhere To Applicable Laws, The BORROWER shall strictly adhere to all applicable federal,
<br />state, and local laws and regulations that are in effect or may hereafter be established
<br />throughout the term of this contract.
<br />
<br />3. Designated Agent Of The CWCB, The CWCB's agents and employees are hereby
<br />designated as the agents of the CWCB for the purpose of this contract.
<br />
<br />4. Contract Is Not Assignable, The BORROWER may not assign this contract except with the
<br />prior written approval of the CWCB.
<br />
<br />5. Contract Relationship, The parties to this contract intend that the relationship between them
<br />under this contract is that of lender-borrower, not employer-employee. No agent, employee, or
<br />servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or servant of
<br />the CWCB. The BORROWER shall be solely and entirely responsible for its acts and the acts of
<br />its agents, employees, servants, engineering firms, construction firms, and subcontractors
<br />during the term of this contract.
<br />
<br />6. Complete Integration Of All Understandings, This agreement is intended as the complete
<br />integration of all understandings between the parties. No prior or contemporaneous addition,
<br />deletion, or other amendment hereto shall have any force or effect whatsoever unless
<br />embodied herein in writing. No subsequent novation, renewal, addition, deletion, or other
<br />amendment hereto shall have any force or effect unless embodied in a written contract
<br />executed and approved pursuant to STATE fiscal rules, unless expressly provided for herein.
<br />
<br />7. In Event Of A Conflict. In the event of conflict between the terms of this contract and
<br />conditions as set forth in any of the appendices, the provisions of this contract shall control.
<br />
<br />8. CWeB May Release Contract. In its sole discretion, the CWeB may at any time give any
<br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the
<br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms and
<br />-.__.-I:L~__-=.?"l""l:. .&.1-_ """A'''''n _'-" -'_.&._..._:__"'_ L..._ _...J.,:__.....I_ ~_ .~II-4.L.o.._.. "'h_ _11"__"'_'" _f ...hi..... ,...^"",.f...__.fo
<br />{,;ur IUllIUII::i G\::i lilt: \,.,vv \,.,0 I I lay Ut:Lt::IIIIIlIt:: LV VI:: aUVI>:IaVII:: LV I UI Lill::I L1lv t-'UI t-'VO:>V>:l VI LillO:> VVIILl Q"L
<br />or to protect the CWCB's financial interest therein, and consistent with both the statutory
<br />purposes of this Contract and the limitations of the statutory authority under which it is made.
<br />
<br />9. Casualty and Eminent Domain, If, at any time, during the term of this contract, (a) the
<br />BORROWER'S PROJECT facilities, including buildings or any portion thereof, are damaged or
<br />destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT
<br />facilities or any part thereof shall be taken under the exercise of the power of eminent domain,
<br />the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to
<br />be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any:portion thereof, or to repayment of this loan. Any net proceeds remaining after such work has
<br />
<br />Page 6 of 9
<br />
<br />Loan Contract
<br />
|