C150315 PIF Contract - Laserfiche WebLink

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At its January 2011 meeting, the CWCB approved a Small Project Loan from the Construction Fund to the BORROWER in an amount up to $2,845,350 for PROJECT Costs, not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in accordance with CWCB Policy No. 16, at an interest rate of 4.75% per annum for a repayment term of 20 years. SECTION 5 — SCHEDULE OF EXISTING DEBT No existing debt pledged with the District's enterprise revenues. SECTION 6 — ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS No additional contract requirements. SECTION 7 — CONSTRUCTION FUND PROGRAM PROCEDURES A. The BORROWER shall employ an engineer, registered in the state of Colorado to prepare plans and specifications for the PROJECT. B. The BORROWER's and the Engineering sultant's plans and specifications must be submitted to the CWCB staff for ve ' n o liance with the terms of this Contract when available prior to bi ifications to the plans and specifications must be approved in by CB staff. C. For plans and specifications for isd' dams and reservoirs, as defined by § 37 -87 -105 C.R.S., the BORRO ER &S rovide a letter of approval from the State Engineer's Office prior to constr D. CWCB staff must be present at bid ing 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 shall 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. Appendix 1 to Loan Contract C150315 Page 2 of 4