C153748 Contract

• Contract/PO #: C153748
• Contractor Name: Excelsior Irrigating Company
• Contract Type: Loan
• Water District: 14
• County: Pueblo
• Loan Projects - Doc Type: Contract Documents

Such payment shall be made within thirty (30) days from the STATE's approval of each progress
report.
3. Release after loan is repaid. Upon complete repayment to the STaTE of the entire principal and any
accrued interest as specified in the Promissory Note, the STATE agrees:
a. To execute UCC-3 forms to terminate all of the STATE's rights in and to the revenues pledged to
repay this loan, the shares of stock and the revenues from the lease of water;
b. To execute releases of the deeds of trust,
c. To return the shares of stock and stock assignments to EvaNS, and
d. To release in writing the Conditional Assignment of Contract Proceeds.
C. The STATE and the BoRROwER mutually agree as follows:
1. Obligations of signatories. The STATE, the BORROWER, and C.R. Evans, as a signatory to this
contract, acknowledge and agree that all obligations of the BoRROwER under this contract shall apply
as well to C.R. Evans as an individual.
2. Designated agent of the STATe. The CWCB, which includes its agents and employees, is hereby
designated as the agent of the STATE for the purpose of this contract.
3. Contract is not assignable. This contract is not assignable by the BoRROwER except with the prior
written approval of the STarE.
4. Contract relationship. The parties to this contract intend that the relationship befinreen them
contemplated by this contract is that of lender-borrower, not employer-employee. No agent,
employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or
servant of the STATE. The BoRROwER shall be solely and entirely responsible for its acts and the acts
of its agents, employees, servants, engineering firms, construction firms, and subcontractors during
the performance of this contract.
5. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of any
other term, or of any subsequent b~each of the same term.
6. Complete integration of all understandings. This agreement is intended as the complete
integration of all understandings between the parties. No prior or contemporaneous addition, deletion,`
or other amendment hereto shall have any force or effect whatsoever unless embodied herein in
writing. No subsequent novation, renewal, addition, deletion, or other amendment hereto shall have
any force or effect unless embodied in a written contract executed and approved pursuant to STATE
fiscaf rules, with the exception of the Revision tetter as described in the Changes Provisions of this
contract.
7. Eligible expenses. PRO~ECT costs eligible for financing by the SrATE shall be limited to the cost of:
a. Preparing final designs and specifications for the PRO~ECT.
b. Preparing bid and construction contract documents. .
c. Preparing environmental assessment or environmental impact statements, and otherwise
complying with the Federal National Environmental Policy Act.
d. Complying with all federal, state, and local regulatory requirements, including the obtaining of all
required permits.
e. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations.
f. Actual construction as called for in the design documents and in change orders approved by the
STATE, th@ BORROWER, the CONSULTANT alld the CONSTRUCTION FIRM.
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The Excelsior Irrigating Company Page 8 of 12 Loan Cont
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