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the form attached as Appendix 5 and incorporated herein, shall be an undivided one <br />hundred percent (100%) interest in the PROJECT and other BORROWER property, as <br />more particularly described in the attached Deed of Trust ("Collateral"). <br />SECTION 7 -ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br />No additional conditions or contract requirements <br />SECTION 8 -CONSTRUCTION FUND PROGRAM PROCEDURES <br />A. The BORROWER sha11 employ an engineer, registered in the state of Colorado to <br />prepare plans and specifications for the PROJECT. <br />B. The BORROWER'S and the Engineering Consultant's Agreements and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance <br />with the terms of this Contract when available prior to bidding. Any modifications to <br />the plans and specifications must be approved in writing by the CWCB staff. <br />C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by <br />§ 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br />Engineer's Office prior to construction. <br />D. CWCB staff must be present at bid opening and must approve the award of the <br />construction contract. <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 the <br />BORROWER and found acceptable by the CWCB staff. <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 CWCB staff verifies that these documents comply with <br />the terms of this contract, the BORROWER may issue the notice to proceed to the <br />Construction Firms. <br />G. The BORROWER Shall conduct apre-construction conference at which time the <br />CWCB staff shall have the opportunity to review and approve the construction <br />schedule. <br />H. If the CWCB 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 CWCB staff. <br />I. The BORROWER shall construct the PROJECT in accordance with the approved plans <br />and specifications. <br />J. Upon completion of the PROJECT construction, the BORROWER shall provide as-built <br />drawings of the PROJECT to the CWCB 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 />Page 2 of 3 <br />