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proceedings in law or equity as may be deemed necessary by the CWCB to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The CWCB's exercise of any or all of the remedies <br />described herein shall not relieve the BORROWER of any of its duties and obligations <br />under this contract. <br />13. BORROWER'S Indemnification Of The CWCB. The BORROWER agrees to indemnify and <br />hold the CWCB harmless from any liability incurred by the CWCB as a result of the <br />CWCB's interest in the PROJECT facilities and any other property identified in Section 6 <br />(Collateral) of the Project Summary. <br />14. BORROWER'S Liability Insurance. <br />a. Upon execution of this contract and continuing until complete repayment of the loan <br />is made to the CWCB, the BORROWER shall maintain commercial general liability <br />insurance, with a company that is satisfactory to the CWCB, with minimum limits of <br />$1,000,000 combined single limit for each occurrence and $2,000,000 general <br />aggregate, including products/completed operations and personal injury. <br />b. Prior to the disbursement of any loan funds, the BORROWER shall provide the CWCB <br />with an Acord Form 27 evidencing said insurance and shall provide the CWCB with <br />documentation of renewals of said insurance. <br />15. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 7) of the Project Summary. <br />B. PROJECT PROVISIONS <br />1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br />BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 8), of the Project Summary. <br />2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for <br />loan disbursements are listed in Eligible Expenses (Section 9) of the Project <br />Summary. <br />3. Loan Disbursements. The CWCB shall 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 />performance of all of its obligations under this contract. Therefore, the BORROWER shall <br />complete the PROJECT within the time specified in Time for Performance (Section 11) of <br />the Project Summary. <br />5. Indemnification By The Construction Firm. The BORROWER shall require all <br />Construction Firms and their subcontractors to indemnify the CWCB and the <br />BORROWER against all liability and loss, and against all claims and actions based upon <br />or arising out of damage or injury, including death, to persons or property, caused by <br />any acts or omissions of those parties or sustained in connection with the performance <br />of any contract related to the PROJECT or by conditions created thereby, or based upon <br />any violation of any statute, ordinance, or regulation, and the defense of any such <br />claims or actions. <br />6. Liability Insurance During Construction. During construction of the PROJECT, the <br />BORROWER shall require the construction firm(s) and any subcontractors to maintain the <br />Page 5 of 9 <br />