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8. Casualty and Eminent Domain. If, at any time, during the term of this CONTRACT, <br />(a) the BORROWER'S PROJECT facilities, including buildings or any portion thereof, are <br />damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use <br />of the PROJECT facilities or any part thereof shall be taken under the exercise of the <br />power of eminent domain, the BORROWER shall cause the net proceeds of any <br />insurance claim or condemnation award to be applied to the prompt replacement, repair <br />and restoration of the PROJECT facilities or any portion thereof, or to repayment of this <br />loan. Any net proceeds remaining after such work has been completed or this loan has <br />been repaid, shall be retained by the BORROWER. If the net insurance proceeds are <br />insufficient to pay the full cost of the replacement, repair and restoration, the <br />BORROWER shall complete the work and pay any cost in excess of the net proceeds. In <br />the event BORROWER chooses to repay the loan, BORROWER shall remain responsible <br />for the full loan amount outstanding regardless of the amount of such insurance <br />proceeds or condemnation award. <br />9. Captions. The captions and headings contained in this CONTRACT are for convenience <br />and reference only and shall not be construed so as to define or limit the terms or <br />provisions contracted herein. <br />10. CWCB's Approval. This CONTRACT requires review and approval of plans, <br />specifications, and various other technical and legal documents. The CWCB's review <br />of these documents is only for the purpose of verifying BORROWER'S compliance with <br />this CONTRACT and shall not be construed or interpreted as a technical review or <br />approval of the actual design or construction of the PROJECT. Notwithstanding any <br />consents or approvals given to the BORROWER by the CWCB on any such documents, <br />BORROWER and any of its consultants, by preparing any such documents, shall be <br />solely responsible for the accuracy and completeness of any of said documents. <br />11. Waiver. The waiver of any breach of a term of this CONTRACT shall not be construed as <br />a waiver of any other term, or of any subsequent breach of the same term. <br />12. Addresses for mailing. All notices, correspondence, or other documents required by <br />this CONTRACT shall be delivered or mailed to the addresses shown in the Section 1 <br />(BORROWER Information) of the PROJECT SUMMARY, for the BORROWER and to the <br />address below for the CWCB: <br />Colorado Water Conservation Board <br />Attn: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />Loan Contract C150342 <br />Page 8 of 11 <br />