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1. The BoRROwER shall construct the PRO�ECT in accordance with the approved plans <br />and specifications. <br />J. Upon comp(etion of #he PRO�ECr construction, the BoRROwER shall provide as-built <br />drawings of the PRO��eT to the CWCB staff, or, if required by § 37-87-105, C.R.S., <br />the BoRROwER shall provide the as-built drawings to the State Engineer's Office for <br />approval and filing. <br />K. Upon completion of the PRO�ECr construction, the BoRROwER shall arrange a final <br />ir�spection for the CWCB staff. <br />L. l"he BoRROw�R shall pay all of the expenses re(ated to the PRO�ECT when such bills <br />are due. <br />SECTION 9— ELIGIBLE EXPENSES The following items are eligible for loan disbursements. <br />A. Preparing final designs and specifications for the PRO�ECT. <br />B. Preparing bid and construction contract documents. <br />C. Preparing environmental assessment or environmental impact statements, and <br />otherwise complying with the Federal National Environmenta( Policy Act. <br />D. Complying with all federal, state, and local regulatory requirements, including the <br />obtaining of all required permits. <br />E. Fis.h and wildlife mitigation measures required by federal, state, or local laws and <br />regulations. <br />F. Actual construction as called for in the design documents and in change orders <br />approved by the CWCB and the BoRROwER . <br />G. Engineering services . for construction management, inc(uding design and <br />construction manage.ment for CWCB-approved change orders. <br />H. Interest during completion of the PRO�ECT pursuant to Paragraph A.4 herein. <br />I. Legal services for reviewing engineering services contracts, reviewing this Contract, <br />reviewing construction contract documents, and for complying with all federat, state, <br />and local regulatory requirements. <br />SECTION 1 O— D18BURSEMENT SCHEDULE <br />The BoRROwER shall prepare a periodic progress report which contains a statement <br />of the PRO�ECT costs expended for that period and shall forward said statement to <br />the CWCB. After receipt of the periodic progress report from the BoRROwER, and <br />review and acceptance of the items therein as eligible expenses as described <br />below, the CWCB will pay to the BoRROwER the amount set forth in the report or <br />such portion that has been approved by the CWCB. Such payment shall be made <br />within thirty.(30) days from the CWCB's approval of each progress report. <br />SECTION 11 — TIME FOR PERFORMANCE <br />PRO�ECr Beginning: Upon Effective Date of this Contract <br />PROJECT Finish Two (2) years from the Effective Date of this Contract <br />Page3of3 <br />