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8), of the Project Summary. <br />2. Eligible Eupenses. <br />loan disbursements <br />Summary. <br />The PRO�ECr expenses for which the Bot�ovvER is eligibte for <br />are listed in Eligible Expenses (Section 9) of the Project <br />3. Loan Disbursements. The CWCB shalf 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 />pertormance of all of its obligations under this contract Therefore, the Bot�towER shalf <br />complete the PRO�ECr within the time specified in Time for Performance (Section 11) of <br />the Project Summary. <br />5. Indemn�cation By The Construction Firm. The BORROWER shall require all <br />Construction Firms and their subcontractors to indemnify the STarE and the Bot�towER <br />against all liability and loss, and against all claims and actions based upon or arising out <br />of damage or injury, including death, to persons or property, caused by any acts or <br />omissions of those parties or sustained in connection with the pertormance of any <br />contract related to the PRO�ECT or by condifions created fhereby, or based upon any <br />violation of any statute, ordinance, or regulation, and the defense of any such claims or <br />actions. <br />6. Liability tnsurance During Construction. During construction of the PRO�ECT, the <br />BoRROwER shall require the construction firm{s) and any subcontractors to maintain the <br />following insurance coverage in the limits shown during the term of their contracfis for <br />the construction of the PRO�ECT. The BoRROwER shalf provide the CWCB wifh an <br />Acord Form 27 evidencing said insurance prior to commencement of construction, <br />maintained until constnaction is complete, and shatl provide the CWCB with <br />documentation of renewals of said insurance. No payments shall be made to the <br />BoRROwER unless ali insurance certificates are current. <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 <br />PROJECT. <br />b. Worker's compensation and employer's liability insurance in the required statutory <br />amounts. <br />c. Automobile liabilify insurance that includes coverage for all owned, non-owned and <br />hired vehicles with minimum limits of $1,Q00,000 combined single limit for bodily <br />injury and property damage. <br />d. Commercial generat 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/compieted opera4ons and bodily injury/property <br />damage. <br />C. GENERAL PROVISIONS <br />1. Periodic Inspections. Throughout the term of this contract, the BoRROwER shall <br />Page 6 of 11 <br />