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SECTION 5 — SCHEDULE OF EXISTING DEBT <br />None. <br />SECTION 6 - COLLATERAL <br />The COLLATERAL provided for this loan, as evidenced by the DEED OF TRUST, in the <br />form attached as APPENDIX 5 shall be an undivided one hundred percent (100 %) <br />interest in the Santa Maria Siphon and Canal System Rehabilitation Project including <br />the conveyance system, the open channel, the pipeline and the siphon, as more <br />particularly described in the attached DEED of TRUST ( "COLLATERAL "). <br />SECTION 7 — ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br />None. <br />SECTION 8 — CONSTRUCTION FUND PROGRAM PROCEDURES <br />A. The BORROWER shall employ an engineer, registered in the state of Colorado to <br />prepare plans and specifications for the PROJECT. <br />B. Engineering contracts, plans and specifications must be submitted to the CWCB <br />staff for verification of compliance with the terms of this CONTRACT when available <br />prior to bidding. Any modifications to the plans and specifications must be approved <br />in writing by the CWCB staff. <br />C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by <br />§ 37 -87 -105 C.R.S., the BORROWER shall provide a letter of approval from the State <br />Engineer's Office prior to construction. <br />D. CWCB staff must be present at bid opening and must approve the award of the <br />construction contract. <br />E. The BORROWER shall contract for the construction of the work with responsible and <br />capable construction firms, which said construction firms shall be selected by the <br />BORROWER and found acceptable by the CWCB staff. <br />F. The BORROWER must provide a copy of the executed construction contract <br />documents consisting of the contractor's proposal, construction contract, <br />performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order, as well as the advertisement for bid and bid <br />bond at bidding. After the CWCB staff verifies that these documents comply with <br />the terms of this CONTRACT, the BORROWER may issue the notice to proceed to the <br />construction firms. <br />G. The BORROWER shall conduct a pre- construction conference at which time the <br />CWCB staff shall have the opportunity to review and approve the construction <br />schedule. <br />H. If the CWCB staff determines that the PROJECT requires a resident inspector during <br />construction, the BORROWER shall employ an inspector who has been approved by <br />the CWCB staff. <br />Appendix 1 to Loan Contract C150350 <br />Page 2 of 4 <br />