C150293 contract docs

• Contract/PO #: C150293
• Contractor Name: North Sterling Irrigation District
• Contract Type: Loan
• Water District: 0
• County: Logan
• Loan Projects - Doc Type: Contract Documents

a. Because the BORROWER is a"public entity" within the meaning of the Colorado
Govemmental Immunity Act, CRS 24-10-101, et sea•, as amended ("Act"), the
BORROwER shall at all #imes maintain such liability insurance, by commeraal policy or
self-insurance as is necessary to meet its liabilities under the Act.
b. Prior to the disbursement of any loan funds, the BoRROwER shait provide the CWCB
with an Acord Form 25 or other form satisfactory to the CWCB evidencing said
insurance and shall provide the CWCB wi#h documen#ation of renewals of said
insurance.
�5. Additional Contract Requirements. Any additionai contract requirements are set forth
in Additional Contract Requirement (Section 6) of the Project Summary.
6. PROJECT PROVISfONS
1. Construction Fund Program Procedures. Quring the �mpletion of the PRO�ECr, the
BoRROwER shall adhere to the CWCB Construction Fund Program Procedures (Section
7) of the Project Summary. �
2. Eligible Expenses. The PRO�ECr expenses for which the BORROwER is eligible for
loan disbursements are listed in Eiigible Expenses (Section 8) of the Project
Summary.
3. Loan Disbursements. The CWCB shali disburse loan funds in accordance with the
Disbursement Schedule (Section 9) of the Project Summary.
4. Time for Performance. The BoRROwER recognizes that time is of the essence in the
perFormance of all of its obligations under this contract. Therefore, the BoRROVVER shall
complete tMe PRO,i�CT within #he time specified in Time for Performance (Section 10) of
the Project Summary.
5. Indemnification By The Construction Firm. The BORROWER shall require aii
Construction Firms and their subcontractors to indemnify the STaTE and the BoRROwER
against al( liability and loss, and against ail claims and ac#ions based upon or arising ou#
of damage or injury, including death, to persons or property, caused by any acts or
omissions of those parties or sustained in connection wi#h the performance of any
contract related to the PRO�ECT or by conditions created thereby, or based upon any
violation o# any statute, ordinance, or regulation, and the defense of any such claims or
actions.
6. Liability Insurance During Constru�tion. During construction Of th@ PROJECT, the
BoRROwER shall require the construction firm(s) and any subcontractors to maintain the
following insurance coverage in the limits shown 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 BoRROwER unless all
insurance certificates are current.
Loan Contract C150293
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