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<br />LOAN CONTRACT <br />Red Mesa Ward <br />Reservoir and Ditch Co. <br />Feasibility Study <br /> <br />thereof, are damaged or destroyed, in whole or in part, by fIre or other casualty, or (b) title <br />to or use of the collateral for this loan or any part thereof shall be taken under the exercise <br />of the power of eminent domain, the State and the Borrower shall cause the net proceeds of <br />any insurance claim or condemnation award which belong to the Borrower or over which the <br />Borrower has any control to be applied to the prompt replacement, repair and restoration of <br />the collateral for this loan or any portion thereof. Any net proceeds remaining after such <br />work has been completed shall be paid to the Borrower. If the net proceeds are insufficient <br />to pay the full cost of the replacement, repair and restoration, the Borrower shall complete <br />the work and pay any cost in excess of the net proceeds (provided, however, that the <br />Borrower shall be obligated to pay any such cost in excess of net proceeds only to the extent <br />of any moneys available therefor in any funds created under this Contract). <br /> <br />9.h.. (Contract p~ce can b~ adjusted if unit cost~. r fou~d to be inacc~rate): <br />The ongmal contract pnce stated m paragraph 4. and an ditIo thereto shall be adjusted <br />to exclude any signifIcant sums by which the State dete contract price has been <br />increased due to inaccurate, incomplete, or noncurrent wage ra s and other factual unit <br />costs. All such contract adjustments shall be made~one (1) year following the State's <br />acceptance of the feasibility study. <br /> <br />10. (Addresses for Mailing): All ne' correspondence, or other documents <br />required by this contract shall be delivered r mat d to the following addresses: <br /> <br />a. For the State b. For the Borrower <br /> <br />Daries C. Lile, P .E., Director ~ <br />Water Conservation Board <br />Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br />Attn: John Van Sciver <br /> <br />The Red Mesa Ward Colorado <br />Reservoir and Ditch Co. 721 State <br />1290 County Road 102 <br />Hesperus, CO 81326 <br /> <br />Attn: Mr. Trent Taylor <br />Vice Chairman <br /> <br />C:\WP51\REDMESA.fk <br /> <br />Page 7 of 9 Pages <br />