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economical manner. <br />14. BoRROwER Liability Insurance. <br />a. Because the BORROWER IS a"public entity" within the meaning of the Colorado <br />Gove�nmental Immunity Act, CRS 24-10-101, et seq•, as amended ("Act°), the <br />BoRROwER shall at all times maintain such liability insurance, by commercial policy <br />or self-insurance as is necessary to meet its liabilities under the Act. <br />b. Prior to the disbursement of any loan funds, the BoRROwER shall provide the CWCB <br />with an Acord Form 25 or other form satisfactory to the CWCB evid�ncing �aid <br />insurance and shall provide the CWCB with documentation of renewals of said <br />insurance. <br />15. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 6) of the Project Summary. <br />B. PROJECT PROVISIONS <br />1. Construction Fund Program Procedur�s. During the completion of the PR���cT, the <br />BORR0INER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 7) of the Project Summary. <br />2. Eligible E�cpense�. The PRC�.���T �xpenses f�r which the BQRRaw�� is �(igibl� fo� <br />loan disbursement� are list�d in Eligibl� E�enses (Sectio� $) af the Proje�t <br />Summary. <br />3, L.oan Disbursements, The C1NCR shaA disburse loan funds in accordance with the <br />Disbursement Schedule (Section 9) of the Project Summary. <br />4. Time for Performance. The Botz�towER recognizes that time is of the essence in the <br />performance of all of its obligations under this contract. Therefore, the Bow�owER shall <br />complete the PRO.�ECT within the time specified in Time for Performance (Section 10) 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 BoRROVVER <br />against all liability and loss, and against all claims and actions bas�d upon or arising <br />out of damage or injury, including death, to persons or property, caused by any acts or <br />omissions of those parties or sustained in connection with the performance of any <br />contract related to the PRO.�ECr or by conditions creat�d thereby, or based upon any <br />violation of any statute, orciinance, or regulation, and the defense of any such claims or <br />actions. <br />6. Liability Insurance During Constrvction. During construction of the F�ROJ�CT the <br />BoRROwER shall require the construction firm(s) and any subcontractors to maintain the <br />following insurance coverage in the limits shown during the term of their contracts for <br />the construction of the PRO�ECT. The BoRROwER shall provide the CWCB with an <br />Acord Form 27 evidencing said insurance prior to commencement of construction, <br />Loan Contract C150Z76 <br />Page 6 of 11 <br />