C150271 contract docs

• Contract/PO #: C150271
• Contractor Name: WRCC, Inc.
• Contract Type: Loan
• Water District: 0
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Security
Agreement, in the form attached as Appendix 4 and incorporated herein, shall be a
pledge of Borrower's assessment revenues backed by a rate covenant ("Collateral").
SECTION 7— ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS
Borrower will pay off the bridge loan with Farmers Bank referenced in Section 5
above.
SECTION $— CONSTRUCTION FUND PROGRAM PROCEDURES
A. The BoRROwER shall employ an engineer, registered in the state of Colorado to
prepare plans and specifications for the PRO�ECT.
B. The BORROWER and the Engineering ConsultanYs Agreements and the plans
and specifications must be submitted to the CWCB staff for verification of
compliance with the terms of this Contract when available prior to bidding. Any
modifications to the plans and specifications must be approved in writing by the
CWCB staff.
C. For plans and specifications for all jurisdictional dams and reservoirs, as defined
by § 37-87-105 C.R.S., the BoRROwER shall provide a letter of approval from the
State Engineer's Office prior to construction.
D. CWCB staff must be present at bid opening and must approve the award of the
construction contract.
E. The BORROwER shall contract for the construction of the work with responsible
and capable Construction Firms, which said Construction Firms shall be selected
by the BoRROwER and found acceptable by the CWCB staff.
F. The BORROWER must provide a copy of the executed construction contract
documents consisting of the contractor's proposal, construction contract,
perFormance bond, payment bond, notice of award, notice to proceed, sample
change order, and sample field order, as well as the advertisement for bid and bid
bond at bidding. After the CWCB staff verifies that these documents comply with
the terms of this contract the BORROWER may issue the notice to proceed to the
Construction Firms.
G. The BORROWER ShBll conduct a pre-construction conference at which time the
CWCB staff shall have the opportunity to review and approve the construction
schedule.
H. If the CWCB staff determines that the PROJECT requires a resident inspector
during construction, the BORROWER Shall employ an inspector who has been
approved by the CWCB staff.
The BoRROWER shall Construct the PROJECT in accordance with the approved
plans and specifications.
Appendix 1 to Loan Contract C150271
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