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with an Acord Form 27 or other fomn satisfactory to the CWCB evidencing said insuranc� and shall provide the CWCB with documentatian of renewals of said insurance. 15. Additional Contract Requirements. Any additional contract requirements are set forth in Additional Contract Requirement (Section 6) of the Project Summary. B. PROJECT PROVISIONS 1. Construction Fund Program Procedures. During the completion of the PRO�ECT, the BoRROw�R shall adhere to the CWCB Construction Fund Program Procedures (Section 7) of the Praject Summary. 2. Eligible Expenses. The PRO�ECT expenses for which the BoRROwER is eligible for loan disbursements are listed in Eligible Expenses (Section 8) of the Project Summary. 3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the Disbursement Schedule (Section 9) of the Project Summary. 4. Time for Performance. The BoRROVVER recognizes that time is of the essence in the perFormance of all of its obligations under this contract. Therefore, the BoaROVUER shall complete the PRO�ECr within the time specified in Time for Performance (Section 10) of the Project Summary. 5. Indemnification By Th� Construction Firm. The BORROWER shall require all Construction Firms and their subcontractors to indemnify the STarE and the BoRROwER against all liability and loss, and against al) claims and actions based upon or arising out of damage or injury, including death, to persons or property, caused by any acts or omissions of those parties or sustained in connection with the performance of any contract related to the PRO�ECT or by conditions created thereby, or based upon any violation of any statute, ordinance, or regulation, and the defense of any such claims or actions. 6. Liabitity Insurance During Construction. During construction of the PRO�ECT, the BoRROwER shall require the construction firm(s) and any subcontractors to maintain the following insuranoe coverage in the limits shawn during the term of their contracts for the construction of the PRO�ECT. The BoRROwER shall provide the CWCB with an Acord Form 27 evidencing said insurance prior to commencement of construction, maintained until construction is complete, and shall provide the CWCB with documentation of renewals of said insurance. No payments shall be made to the BoRROVUEa unless all insurance certificates are current. a. Builder's risk insurance for construction in progress for all perils of loss including fire, wind, hail, and vandalism in an amount equal to the completed value of the PROJECT. b. Worker's compensation and employer's liability insurance in the required statutory amounts. c. Automobile liability insurance that includes coverage far all owned, non-owned and Page 6 of 10