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� r < and vandalism in an amount equal to the completed value of the Project. c. During construction of the Project, the Borrower shall require the Construction Firm(s) and their Subcontractors to maintain the following insurance coverage in the limits shown during the term of their Contracts for the construction of the Project: i. For the activities of the Construction Firm(s) and their Subcontractors off the Project site only, Commercial General Liability Insurance with minimum limits of $1,000,000 combined single limit for each occurrence and $2,000,000 general aggregate. This insurance shall include the following coverages: Blanket Contractual Liability, Broad Form Property Damage, Completed Operations and Personal Injury. ii. For the activities of the Construction Firm(s) and their Subcontractors off the Project site only, Workers' Compensation and Employers Liability Insurance in the amounts required by the State of Colorado pursuant to the provisions of the Workers' Compensation Act, Title 8, Articles 40 through 47, C.R.S., as amended. iii. For the activities of the Construction Firm(s) and their Subcontractors whether on or off the Project site, Comprehensive Automobile Liability Insurance that includes coverage for all owned, non-owned, and hired vehicles with minimum limits of $1,000,000 combined single limit for each occurrence of bodily injury and/or property damage. d. The Borrower shall provide or cause to be provided to the CWCB an Acord Form 25 evidencing all insurance coverage obtained by the Borrower, the Construction Firm(s) and their Subcontractors prior to commencement of construction. The Borrower shall maintain or cause to be maintained all such insurance until construction is complete and, if necessary, shall provide or cause to be provided to the CWCB documentation of renewals of all such insurance. No payments shall be made to the Borrower unless all insurance certificates are current. 7. Periodic Inspections. Throughout the term of this Contract, the BORROWER shall permit a designated representative of the CVVCB to make periodic inspections of the PROJECT. Such inspections shall cover the condition of the PRO�ECT, operating records, maintenance records, and financial records. These inspections are solely for the purpose of verifying compliance with the terms and conditions of this Contract and shall not be construed nor interpreted as an approval of the actual design, construction or operation of any element of the PRO�ECT facilities. C. GENERAL PROVISIONS 1. Applicable Laws. The BoRROwER shall strictly adhere to all applicable federal, state, and local laws and regulations that are. in effect or may hereafter be established throughout the term of this Contract. Loan Contract C150243 Page 10 of 15