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successively enforced. The CWCB may enforce the provisions of this contract at its <br />option without regard to prior waivers of previous defaults by the BoRROwER, through <br />judicial proceedings to require specific perFormance of this contract, or by such other <br />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 />16. Operation of PRO�ECr. The BoRROwER shall, without expense or legal liability to the <br />CWCB, manage, operate and maintain the PROJECT continuously in an efficient and <br />economical manner. <br />17. BORROWER 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 urrence and $2,000,000 general <br />aggregate, including products/com� r i, s and personal injury. <br />b. Prior to the disbursement of any loan funds wER shall provide the CWCB <br />with an Acord Form 27 eviden ' d • a�all provide the CWCB with <br />documentation of renewals of s e. <br />18. 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 PRO�ECr, the <br />BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 8), of the Project Summary. <br />2. Eligible Expenses. The PRO�ECT 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 PRO�ECT 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 STaTE and the BoRROwER <br />against all liability and loss, and against all claims and actions based upon or arising <br />Page 5 of 10 <br />