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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
<br />and local laws and regulations that ar�
<br />throughout the term of this contract.
<br />3
<br />0
<br />5.
<br />�
<br />strictly adhere to all applicable federal, state,
<br />in effect or may hereafter be established
<br />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 />Assignment. The BoRROwER may not assign this contract except with the prior written
<br />approval of the CWCB.
<br />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, employees, servants,
<br />engineering firms, construction firms, and subcontractors during the term of this
<br />contract.
<br />Integration of Terms. This contract is �he complete integration of all
<br />understandings befinreen the parties. No ' or contem aneous addition, deletion,
<br />or other amendment hereto shall have an r t a oever unless embodied
<br />herein in writing. No subsequent n, ion, deletion, or other
<br />amendment hereto shall have any for unless embodied in a written contract
<br />executed and approved pursuant to STArE fiscal rules, unless expressly provided for
<br />herein.
<br />7. 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 shall 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 />8. CWCB May Release Contract. In its sole discretion, the CWCB may at any time give
<br />any consent, deferment, subordination, release, satisfaction, or termination of any or all
<br />of the BORROwER obligations under this contract, with valuable consideration, upon
<br />such terms and conditions as the CWCB may determine to be advisable to further the
<br />purposes of this contract or to protect the CWCB's financial interest therein, and
<br />consistent with both the statutory purposes of this contract and the limitations of the
<br />statutory authority under which it is made.
<br />9. Casualty and Eminent Domain. If, at any time, during the term of this contract, (a) the
<br />BORROWER'S PROJECT faCIIItIeS 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�ECT 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 Sh811
<br />complete the work and pay any cost in excess of the net proceeds. In the event
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