Laserfiche WebLink
�r r <br />property caused by any acts or omissions of the Construction Firms <br />and their subcontractors or sustained in connection with the <br />performance of any contract or by conditions created thereby, or <br />based upon any violation of any statute, ordinance, or regulation <br />by the Construction Firms and their subcontractors. <br />4. Require all Construction Firms and their subcontractors <br />to maintain the following: <br />a. Workmen's compensation and employers' liability <br />insurance. <br />b. Automobile liability insurance for all vehicles. <br />C. Comprehensive general liability insurance in at <br />least the following amounts: <br />(1) For any injury to one person in any single <br />occurrence, the sum of One Hundred Fifty Thousand <br />Dollars ($150,000). <br />(2) For any injury to two or more persons in any <br />single occurrence, the sum of Four Hundred Thousand <br />Dollars ($400,000). <br />(3) For any damage to property, the sum of Four <br />Hundred Thousand Dollars ($400,000) for each <br />MP <br />o ' <br />Said lib' Wyinsurance shall name the Borrower and the <br />State as a o 1 insured. No loan proceeds shall <br />be s contract unless a copy of a <br />cert t liability insurance has been filed <br />with a State. <br />5. As security for the loan, execute a deed of trust that <br />shall convey the following real property to the State as security <br />for the loan: <br />One hundred percent (100 %) interest in and to the <br />Hourglass Dam, together with all inlet and outlet <br />structures, ditches, spillways, and structures <br />appurtenant thereto or used in connection therewith. <br />Record the deed in the proper county or counties and pay <br />for all recording fees. The retainage shall not be paid <br />to the Borrower until a mortgage has been executed, <br />recorded, and filed with the State. <br />6. Without expense to the State, manage, operate, and <br />maintain the project continuously in an efficient and economical <br />manner, and assume all legal liability for such management, <br />Page 3 of 10 Pages <br />