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CT2015-090 Contract
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CT2015-090 Contract
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Last modified
2/17/2017 3:28:57 PM
Creation date
10/10/2014 10:51:04 AM
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Loan Projects
Contract/PO #
CT2015-090
C150402
Contractor Name
Ephraim Ditch Company
Contract Type
Loan
Water District
22
County
Rio Grande
Loan Projects - Doc Type
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• • <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> No other debt backed by Borrower's pledged assessment revenues and pledged <br /> collateral as described in Section 6 below, exists. <br /> SECTION 6—COLLATERAL <br /> The COLLATERAL provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 4) and DEED OF TRUST (APPENDIX 5) and incorporated herein, <br /> shall be a pledge of assessment revenues backed by a rate covenant and an undivided <br /> one hundred percent (100%) interest in the PROJECT, which includes the diversion, <br /> headgate and measurement equipment as more particularly described in the attached <br /> DEED OF TRUST ("COLLATERAL") which is incorporated herein. This is in accordance with <br /> CWCB Financial Policy#5 (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 and the plans and specifications must be submitted to the <br /> CWCB staff for verification of compliance with the terms of this CONTRACT when <br /> available prior to bidding. Any modifications, to the plans and specifications that <br /> effect changes to the construction costs must be approved in writing by CWCB. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined <br /> by § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the <br /> State Engineer's Office prior to construction. <br /> D. The BORROWER shall notify CWCB of the bid opening date, time and location. <br /> CWCB staff may elect to attend the bid opening. <br /> E. CWCB must approve the award of the construction contract. <br /> F. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, which are found acceptable by the CWCB staff. <br /> G. 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 /> Appendix 1 <br /> Page 2 of 4 <br />
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