C150171 PIF Contract

• Contract/PO #: C150171
• Contractor Name: Terrace Irrigation Company, The
• Contract Type: Loan
• County: Conejos
• Loan Projects - Doc Type: Contract Documents

Name of
Lienholder
1. CWCB (C153606,2/14/1992)
2. CWCB (C153332, 9/15/1980)
3. Farmers Home Admin.
SECTION 6 - COLLATERAL
Current
Annual
Lien on
Balance
Payment
Revenues
$361,835
$26,310
Yes
$1,499,395
$96,162
No
$26,445
$4,407
No.
The collateral provided for this loan, as evidenced by the executed Deed of Trust, in
the form attached as Appendix 5 and incorporated herein, shall be an undivided one
hundred percent (100 %) interest in the Terrace Reservoir and associated water rights
located in Conejos County, as more particularly described in the attached Deed of
Trust ( "Collateral ").
SECTION 7 - ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS
No additional conditions or contract requirements
SECTION 8 - 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 Consul"tanfi`� Agrp&gents and the plans and
specifications must be submitted to the C4: ;;'aaff.: #or;vecation of compliance
with the terms of this Contract when ava le 'prior,tt:t6i �dQ. Any modifications to
the plans and specifications must be approved in*r 0y the CWCB staff.
C. For plans and specifications for all jurisdictiorw -oa i "and reservoirs, as defined by
§ 37 -87 -105 C.R.S., the BORROWER shall pr `'11'' letter of approval from the State
Engineer's Office prior to construction.
D. CWCB staff must be present at bid opening 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.
I. The BORROWER shall construct the PROJECT in accordance with the approved plans