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<br />the PROJECT facilities or any portion thereof, or to repayment of this loan. Any net <br />proceeds remaining after such work has been completed or this loan has been repaid, <br />shall be retained by the BORROWER. If the net insurance proceeds are insufficient to pay <br />the full cost of the replacement, repair and restoration, the BORROV\IER shall complete <br />the work and pay any cost in excess of the net proceeds. In the event BoRROWER <br />chooses to repay the loan, BORROWER shall remain responsible for the full loan amount <br />outstanding regardless of the amount of such insurance proceeds or condemnation <br />award. <br /> <br />9. Captions. The captions and headings contained in this contract are for convenience <br />and reference only and shall not be construed so as to define or limit the terms or <br />provisions contracted herein. <br /> <br />10. CWCB's Approval. This contract requires review and approval of plans. specifications, <br />and various other technical and legal documents. The CVVCB's feview of these <br />documents is only for the purpose of verifying BORROV\IER'S compliance with this <br />contract and shall not be construed or interpreted as a technical review or approval of <br />the actual design or construction of the PROJECT. Notwithstanding any consents or <br />approvals given to the BoRROWER by the CWCB on any such documents, BORROWER <br />and any of its consultants, by pfeparing any such documents, shall be solely <br />responsible for the accuracy and completeness of any of said documents. <br /> <br />11. Waiver. The waiver of any breach of a term of this contract shall not be construed as a <br />waiver of any other term, or of any subsequent breach of the same term. <br /> <br />12. Addresses for mailing. All notices, correspondence, or other documents required by <br />this contract shall be delivered Of mailed to the addresses shown in the Section 1 <br />(BORROVvER Information) of the Project Summary, for the BORROVVER and to the <br />address below for the CWCB: <br /> <br />Colorado Water Conservation Board <br />Attn: Construction Fund Section <br />1313 Sherman Street, Room n1 <br />Denver, CO 80203 <br /> <br />Loan Contract C150258 <br />Page 8 of 11 <br />