C153746 PIF Contract - Laserfiche WebLink

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8. Casualty and eminent domain. If, at any time during the term of this contract, (a) the BORROWER'S PROJECT facilities and /or property pledged as security for this loan, including buildings or any portion thereof, are damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT facilities or any part thereof shall be taken under the exercise of the power of eminent domain, the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion thereof. Any net proceeds remaining after such work has been completed shall be paid to the BORROWER. If the net proceeds are insufficient to pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the work and pay any cost in excess of the net proceeds. 9. Captions. The captions and headings contained in this contract are for convenience and reference only and shall not be construed so as to define or limit the terms or provisions contracted herein. 10. STATE's approval. This contract requires review and approval of plans, specifications, and various other technical and legal documents. The STATE'S review of these documents is only for the purpose of verifying the DISTRICT' nd the BORROWER'S compliance with this contract and shall not be construed or in e s a technical review or approval of the actual design or construction of the P 1tatigo. Notwithstanding any consents or approvals given the DISTRICT and /or th o aER $t-WIATE on any such documents, the DISTRICT, the BORROWER and its CONSULT T, p ny such documents shall be solely responsible for the accuracy and completengs said documents. 11. Addresses for mailing. All notic contract shall be delivered or mailed to For the STATE: Colorado Water Conservation Board 1313 Sherman Street, Room 721 Denver, CO 80203 Attn: Construction Fund Section D. Special provisions (1993 version) cor=respondence, or other documents required by this following addresses: For the BORROWER: Mancos Water Enterprise and /or Mancos Water Conservancy District 42888 County Road N Mancos, CO 81328 1. Controller's approval. This contract shall not be deemed valid until it shall have been approved by the Controller of the State of Colorado or such assistant as he may designate. This provision is applicable to any contract involving the payment of money by the STATE. 2. Fund availability. Financial obligations of the State of Colorado payable after the current fiscal year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available. 3. Bond requirement. If this contract involves the payment of more than fifty thousand dollars for the construction, erection, repair, maintenance, or improvement of any building, road, bridge, viaduct, tunnel, excavation or other public work for this STATE, the CONTRACTOR shall, before entering upon the performance of any such work included in this contract, duly execute and deliver to the STATE official who will sign the contract, a good and sufficient bond or other acceptable surety to be approved by said official in a penal sum not less than one -half of the total amount payable by the terms of this contract. Such bond shall be duly executed by a qualified corporate surety conditioned upon the faithful performance of the contract and in addition, shall provide that if the CONTRACTOR or his subcontractors fail to duly pay for any labor, materials, team hire, sustenance, provisions, provendor or other supplies used or consumed by such CONTRACTOR or his Page 9 of 12