C150023 DeAuth Contract - Laserfiche WebLink

Home Browse Search

i. The BORROWER shall construct the PROJECT in accordance with the approved plans and specifications. j. Upon completion of the PROJECT construction, the BORROWER shall provide as -built drawings of the PROJECT to the CWCB staff, and, if required by § 37 -87 -105, C.R.S. (1997), the BORROWER shall provide the same drawings to the State Engineer's Office for approval and filing. k. Upon completion of the PROJECT construction, the BORROWER shall arrange a final inspection for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT. 2. Time For PROJECT Completion. The BORROWER recognizes that time is of the essence in the performance of all of its obligations under this contract. Therefore, the BORROWER shall complete the PROJECT within two (2) years from the date this contract. The time for completion of the PROJECT may be extended subject t e proval of the STATE. The BORROWER must provide, in writing, documented justifica for any request for extension sixty (60) days prior to the end of the period for completion. The STATE will provide to the BORROWER within thirty (30) days following re,, ' t of the BORROWER'S request, a letter of approval or denial of the request for extension of ti for completion. 3. Indemnification By The CONSTRUC FIRM. The BORROWER shall require all CONSTRUCTION FIRMS and their subCO rac to indemnify the STATE and the BORROWER against all liability and loss, and agai t all cl ims and actions based upon or arising out of damage or injury, including death, top or property, caused by any acts or omissions of those parties or sustaine4'connection with the performance of any contract related to the PROJECT or by conditi ated thereby, or based upon any violation of any statute, ordinance, or regulation, a defense of any such claims or actions. 4. Liability Insurance During Construction. The BORROWER shall require the CONSTRUCTION FIRM and its subcontractors to maintain, during the term of their contracts for construction of the PROJECT, the following insurance with a company that is satisfactory to the STATE: a. Worker's compensation and employer's liability insurance in the required statutory amounts. b. Automobile liability insurance which includes coverage for all owned, non -owned and hired vehicles with minimum limits of $1,000,000 combined single limit for bodily injury and property damage. c. Commercial general liability insurance with minimum - limits of $1,000,000 combined single limit for each occurrence and $2,000,000 general aggregate. This insurance coverage shall include products /completed operations and personal injury. d. Builder's risk insurance for construction in progress for all perils of loss including fire, wind, hail, vandalism, and flood in an amount equal to the completed value of the PROJECT. Said general liability insurance shall name the BORROWER and the STATE as additional insured. An additional insured endorsement and a current copy of a certificate of said Ryan Gulch Reservoir Company Page 3 of 13 Loan Contract