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(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, specifications, <br /> and various other technical and legal documents. The CWCB's review of these <br /> documents is only for the purpose of verifying BORROWER'S compliance with this <br /> contract and shall not be construed or interpreted as a technical review or approval of <br /> the actual design or construction of the PROJECT. Notwithstanding any consents or <br /> approvals given to the BORROWER by the CWCB on any such documents, BORROWER <br /> and any of its consultants, by preparing any such documents, shall be solely <br /> 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 a <br /> 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 C150334 <br /> Page 8 of 11 <br />