C150157 contract docs

• Contract/PO #: C150157
• Contractor Name: Grand Mesa Reservoir Company
• Contract Type: Loan
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

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d. take any other appropriate action.
The CWCB shall provide written notice to the BoRROwER of any such default and shall
give the BoRROwER an opportunity to cure within thirty (30) days of receipt of such
notice. All remedies described herein may be simultaneously or selectively and
successively enforced. The CWCB may enforce the provisions of this contract at its
option without regard to prior waivers of previous defaults by the BoRROwER, through
judicial proceedings to require specific performance of this contract, or by such other
proceedings in law or equity as may be deemed necessary by the CWCB to ensure
compliance with provisions of this contract and the laws and regulations under which
this contract is executed. The CWCB's exercise of any or all of the remedies
described herein shall not relieve the BoRROwER of any of its duties and obtigations
under this contract.
15. Operation of PRaecT. The BoRROwER shall, without expense or legal liability to the
CWCB, manage, operate, and maintain the PRO�ECT continuously in an efficient and
economical manner.
16. BORROwER's Liability Insurance.
a. Upon execution of this contract and continuing until complete repayment of the loan
is made to the CWCB, the BoRROwER shall maintain commercial general liability
insurance, with a company that is satisfactory to the CWCB, wi minimum limits of
$1,000,000 combined single limit for each occurrence , 00,000 general
aggregate, including products/completed operatio nd pers al in ry.
b. Prior to the disbursement of any loan funds;�ie B owER sh ovide the CWCB
with an Acord Form 27 evidencir�g rance a shall provide the CWCB with
documenta#ion of renewals of�aid ' suran .
17. Additional Contract ui ments. ditional contract requirements are set
forth in Additional Contra quirement (Section 7) of the Project Summary.
B. PROJECT PROVISIONS
1. Construction Fund Program Procedures. During the completion of the PRO�ECT, the
BORROWER shall adhere to the CWCB Construction Fund Program Procedures
(Section 8), of the Project Summary.
2. Eligible Expenses. The PRO�ECT expenses for which the BoRROwER is eligible for
loan disbursements are listed in Eligible Expenses (Section 9) of the Project
Summary.
3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the
Disbursement Schedule (Section 10) of the Project Summary.
4. Time for Performance. The BoRROwER recognizes that time is of the essence in the
performance of atl of its obligations under this contract. Therefore, the BoRROWER shall
complete the PRO�ECT within the time specified in Time for Performance (Section 11) of
the Project Summary.
5. Indemnification By The Construction Firm. The BORROWER shall require all
Construction Firms and their subcontractors to indemnify the STATE and the BoRROwER
against all liability and loss, and against all claims and actions based upon or arising
out of damage or injury, including death, to persons or property, caused by any acts or
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