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<br />The CWCB shall disburse loan funds at the rate of 70% of submitted project invoices. See also <br />Section 9 - Disbursement Schedule, below. <br /> <br />SECTION 7 - CONSTRUCTION FUND PROGRAM PROCEDURES <br /> <br />A. The BORROWER shall employ an engineer, registered in the state of Colorado to <br />prepare plans and specifications for the PROJECT. <br /> <br />B. The BORROWER'S and the Engineering Consultant's plans and specifications must <br />be submitted to the eWCB staff for verification of compliance with the terms of this <br />eontract when available prior to bidding. Any modifications to the plans and <br />specifications must be approved in writing by the eWeB staff. <br /> <br />C. For plans and specifications for all jurisdictional dams and reseNoirs, as defined <br />by ~ 37-87-105 e.R.s., the BORROWER shall provide a letter of approval from the <br />State Engineer's Office prior to construction. <br /> <br />D. eWeB staff must be present at bid opening and must approve the award of the <br />construction contract. <br /> <br />E. The BORROWER shall contract for the construction of the work with responsible and <br />capable Construction Firms, which said Construction Firms shall be selected by <br />the BORROWER and found acceptable by the eWeB staff. <br /> <br />F. The BORROWER must provide a copy of the executed construction contract <br />documents consisting of the contractor's proposal, construction contract, <br />performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order, as well as the advertisement for bid and bid <br />bond at bidding. After the eWCB staff verifies that these documents comply with <br />the terms of this contract, the BORROWER may issue the notice to proceed to the <br />eonstruction Firms. <br /> <br />G. The BORROWER shall conduct a pre-construction conference at which time the <br />eWeB staff shall have the opportunity to review and approve the construction <br />schedule. <br /> <br />H. If the ewes staff determines that the PROJECT requires a resident inspector during <br />construction, the BORROWER shall employ an inspector who has been approved by <br />the eWeB staff. <br /> <br />I. The BORROWER shall construct the PROJECT in accordance with the approved <br />plans and specifications. <br /> <br />J. Upon completion of the PROJECT construction, the BORROWER shall provide as-built <br />drawings of the PROJECT to the eWeB 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 /> <br />K. Upon completion of the PROJECT construction, the BORROWER shall arrange a final <br /> <br />Appendix 1 to Loan Contract C150241 <br />Page 2 of 3 <br />