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B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br /> BORROWER shall adhere to the CWCB Construction Fund Program Procedures (Section 7) of <br /> the PROJECT SUMMARY. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for loan <br /> disbursements are listed in Eligible Expenses (Section 8) of the PROJECT SUMMARY. The <br /> BORROWER shall pay all of the expenses related to the Project when such bills are due. <br /> 3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br /> Disbursement Schedule (Section 9) 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 shall <br /> complete the PROJECT within the time specified in Time for Performance (Section 10) of the <br /> PROJECT SUMMARY. <br /> 5. Indemnification by the Construction Firm. The BORROWER shall require all construction <br /> firms and their subcontractors to indemnify the STATE and the BORROWER against all liability <br /> and loss, and against all claims and actions based upon or arising out of damage or injury, <br /> including death, to persons or property, caused by any acts or omissions of those parties or <br /> sustained in connection with the performance of any contract related to the PROJECT or by <br /> conditions created thereby, or based upon any violation of any statute, ordinance, or regulation, <br /> and the defense of any such claims 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 the <br /> following insurance coverage in the limits shown during the term of their contracts for the <br /> construction of the PROJECT. If requested by CWCB, the BORROWER shall provide the CWCB <br /> with an Acord Form 25 evidencing said insurance prior to commencement of construction and <br /> maintained until construction is complete. The BORROWER shall provide the CWCB with <br /> documentation of renewals of said insurance. No payments shall be made to the BORROWER <br /> unless all insurance certificates are current. <br /> a. Commercial general liability insurance with minimum limits of $1,000,000 combined single <br /> limit for each occurrence and $2,000,000 general aggregate. This insurance coverage shall <br /> include products/completed operations and bodily injury/property damage. <br /> b. Worker's compensation and employer's liability insurance in the required statutory amounts. <br /> c. Automobile liability insurance that includes coverage for all owned, non-owned and hired <br /> vehicles with minimum limits of $1,000,000 combined single limit for bodily injury and <br /> property damage. <br /> C. GENERAL PROVISIONS <br /> 1. Periodic Inspections. Throughout the term of this CONTRACT, the BORROWER shall permit a <br /> designated representative of the CWCB to make periodic inspections of the PROJECT. Such <br /> inspections shall cover the condition of the PROJECT, operating records, maintenance records, <br /> and financial records. These inspections are solely for the purpose of verifying compliance with <br /> the terms and conditions of this CONTRACT and shall not be construed nor interpreted as an <br /> Loan Contract C150410A <br /> Page 6 of 12 <br />