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~ ~ <br />maintenance records, and financial records. These inspections are solely for the <br />purpose of verifying compliance with the terms and conditions of this contract and shall <br />not be construed nor interpreted as an approval of the actual design, construction or <br />operation of any element of the PRO~ECT facilities <br />2. Applicable Laws. The BoRROwER shall strictly adhere to all applicable federal, state, <br />and local laws and regulations that are in effect or may hereafter be established <br />throughout the term of this contract. <br />3. Designated Agent Of The CWCB. The CWCB's employees are designated as the <br />agents of the CWCB for the purpose of this contract. <br />4. Assignment. The BoRROwER may not assign this contract except with the prior written <br />approval of the CWCB. , <br />s. Contract Relationship. The parties to this contract intend that the relationship <br />befinreen them under this contract is that of lender-borrower, not employer-employee. <br />No agent, employee, or servant of the BoRROwER shall be, or shall be deemed to be, <br />an employee, agent, or servant of the CWCB. The BoRROwER shall be solely and <br />entirely responsible for its acts and the acts of its agents, ees, servants, <br />engineering firms, construction firms, and subcontra tc~~"du g t term of this <br />contract. --..~ <br />6. Integration Of Terms. Thi c rac s int ded as e compl e integration of all <br />understandings betwe he arties. prio or conte poraneous addition, deletion, <br />or other amendment here s all have a ce or effect whatsoever unless embodied <br />herein in writing. No su equent novation, renewal, addition, deletion, or other <br />amendment hereto shall have any force or effect unless embodied in a written contract <br />executed and approved pursuant to STarE fiscal rules, unless expressly provided for <br />herein. <br />Controlling Terms. In the event of conflicts or inconsistencies befinreen the terms of <br />this contract and conditions as set forth in any of the appendices, such conflicts or <br />inconsistencies shal~ be resolved by reference to the documents in the following order <br />of priority: (1) Colorado Special Provisions, (2) the remainder of this contract, and (3) <br />the Appendices. <br />Casualty and Eminent Domain. If, at any time, during the term of this contract, (a) the <br />BORROWER's PRO~ECT facilities including buildings or any portion thereof, are damaged <br />or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the <br />PRO~ECT facilities or any part thereof shall be taken under the exercise of the power of <br />eminent domain, the BoRROwER shall cause the net proceeds of any insurance claim or <br />condemnation award to be applied to the prompt replacement, repair and restoration of <br />the PRO~~cT 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 <br />pay the full cost of the replacement, repair and restoration, the BORROWER shall <br />complete the work and pay any cost in excess of the net proceeds. In the event <br />BoRROwER chooses to repay the loan, BoRROwER shall remain responsible for the full <br />Page 7 of 10 <br />