C150251 Contract Docs

• Contract/PO #: C150251
• Contractor Name: Montezuma Valley Irrigation Company
• Contract Type: Loan
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

MVIC for Adjustment of Water Rights and Sale of the Use of Irrigation Water, Dolores
Project, Colorado River Storage Project" (Articles 4, 6, 7 and 8), and the "Contract
Among the United States and DWCD, MVIC and the Ute Mountain Ute Tribe
Providing for the Adjustment of Water Rights and for the Rehabilitation, Operation,
Maintenance and Replacement of Facilities to Reduce Salinity Inflow to Colorado
River" (Articles 5 and 6).
SECTION 6 - COLLATERAL
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 May Lateral Pipeline, with a length of
approximately five miles, as more particularly described in the attached Deed of Trust
( "Collateral ").
SECTION 7 — ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS
The CWCB approved the loan with the following conditions:
a. The CWCB has received a parity position with the Dolores Water Conservancy
District on the Borrower's assessment revenues.
b. Any funds received by the Borrower from NRCS (USDA) related to the May
Lateral Pipeline shall be submitted by the BORROWER to the CWCB an amount
equal to the NRCS reimbursement within ten (10) working days after receipt of
the reimbursement. The NRCS reimbursement will be applied to the outstanding
principal loan balance, and the Loan Contract shall be amended to the reduced
loan amount.
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 Consultant's Agreements and the plans and
specifications must be submitted to the CWCB staff for verification of compliance
with the terms of this Contract when available prior to bidding. Any modifications to
the plans and specifications must be approved in writing by the CWCB staff.
C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by
§ 37 -87 -105 C.R.S., the BORROWER shall provide a 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
Appendix 1 to Loan Contract C150251
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