Laserfiche WebLink
successively enforced. The CWCB may enforce the provisions of this contrac# 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 CVUCB'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 />14. BORROWER Indemnification Of The CWCB. The BoRROwER agrees to indemnify and <br />hold the CWCB harmless from any liability incurred by the CWCB as a result of the <br />CIIVCB's interest in the PRO�ECT facilities and any other property identified in Section 6 <br />(Collateral) of the Project Summary. <br />15. Operation of PRO�ECr. The BoRROwER shall, without expense or legal liability to the <br />CWCB, manage, operate, and maintain the PRO�ECT continuously in an efficient and <br />economicai manner. <br />16. BORROWER Liability Insurance. <br />a. Upon execution of this contract and continuing until complete repayment of the loan <br />is made #o the CWCB, the BoRROwER shafl maintain commercial general liability <br />insurance, with a company that is satisfactory to the CWCB, with minimum limits of <br />$1,000,000 combined single limit for each occurrence and $2,000,000 general <br />aggregate, including products/completed operations and personal injury. <br />b. Prior to the disbursement of any loan funds, the BoRROwER shall provide the CWCB <br />with an Acord Form 27 evidencing said insurance and shall provide the CWCB with <br />documentation of renewals of said insurance. <br />17. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 7) of the Project Summary. <br />B. PROJECT PROVISIONS � <br />1. Construction Fund Program Procedures. During the completion of the PRO�ECT, the <br />BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 8), of the Project Summary. <br />2. Eligible Expenses. The PRO�ECT expenses for which the BoRROwER is eligible for <br />loan disbursements are listed in Eligible Expenses (Section 9) of the Project <br />Summary. <br />3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br />Disbursement Schedule (Section 10) of the Project Summary. <br />4. Time for Performance. The BoRROwER recognizes that time is of the essence in the <br />perFormance of all of its obligations under this contract. Therefore, the BoRROwER shall <br />complete the PRO�ECT within the time specified in Time for Performance (Section 11) of <br />the Project Summary. <br />5. Indemnification By The Construction Firm. The BORROWER shall require all <br />Construction Firms and their subcontractors fo indemnify the CWCB and the <br />BoRROwER against all liability and loss, and against all claims and actions based upon <br />or arising out of damage or injury, including death, to persons or property, caused by <br />Page 5 of 9 <br />