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C150392 Contract
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C150392 Contract
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Last modified
12/23/2024 9:17:16 AM
Creation date
6/2/2014 1:05:45 PM
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Loan Projects
Contract/PO #
C150392
Contractor Name
Sylvan Dale Ranch, LLLP
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
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general aggregate, including products/completed operations and personal injury. <br />b. Prior to the disbursement of any loan funds, the BORROWER shall provide the <br />CWCB with an Acord Form 25 evidencing said insurance and shall provide the <br />CWCB with documentation of renewals of said insurance. <br />17. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 7) of the PROJECT SUMMARY. <br />B. PROJECT PROVISIONS <br />1. Construction Fund Program Procedures. During the completion of the PROJECT, <br />the BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br />(Section 8), of the PROJECT SUMMARY. <br />2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for <br />loan disbursements are listed in Eligible Expenses (Section 9) of the PROJECT <br />SUMMARY. <br />3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br />Disbursement Schedule (Section 10) of the PROJECT SUMMARY. <br />4. Time for Performance. The BORROWER recognizes that time is of the essence in the <br />performance of all of its obligations under this CONTRACT. Therefore, the BORROWER <br />shall complete the PROJECT within the time specified in Time for Performance (Section <br />1 1) of the PROJECT SUMMARY. <br />5. Indemnification by the Construction Firm. The BORROWER shall require all <br />construction firms and their subcontractors to indemnify the STATE and the BORROWER <br />against all liability and loss, and against all claims and actions based upon or arising <br />out of damage or injury, including death, to persons or property, caused by any acts <br />or omissions of those parties or sustained in connection with the performance of any <br />contract related to the PROJECT or by conditions created thereby, or based upon any <br />violation of any statute, ordinance, or regulation, and the defense of any such claims <br />or actions. <br />6. Liability Insurance during Construction. During construction of the PROJECT, the <br />BORROWER shall require the construction firm(s) and any subcontractors to maintain <br />the following insurance coverage in the limits shown during the term of their contracts <br />for the construction of the PROJECT. The BORROWER shall provide the CWCB with an <br />Acord Form 25 evidencing said insurance prior to commencement of construction, <br />maintained until construction is complete, and shall provide the CWCB with <br />documentation of renewals of said insurance. No payments shall be made to the <br />BORROWER unless all insurance certificates are current. <br />a. Commercial general liability insurance with minimum limits of $1,000,000 <br />combined single limit for each occurrence and $2,000,000 general aggregate. <br />This insurance coverage shall include products/completed operations and bodily <br />injury/property damage. <br />b. Worker's compensation and employer's liability insurance in the required statutory <br />Loan Contract C150392 <br />Page 6 of 12 <br />
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