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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 /> approval of the actual design, construction or operation of any element of the PROJECT facilities. <br /> 2. Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state, and local <br /> laws and regulations that are in effect or may hereafter be established throughout the term of <br /> this CONTRACT. <br /> 3. Designated Agent Of The CWCB. The CWCB's employees are designated as the agents of <br /> the CWCB for the purpose of this CONTRACT. <br /> 4. Assignment. BORROWER'S rights and obligations, of this contract, hereunder are personal <br /> and may not be transferred, assigned without the prior, written consent of the State. Any <br /> attempt at assignment without such consent shall be void. All assignments approved by <br /> BORROWER or the State are subject to all of the provisions hereof. <br /> 5. Contract Relationship. The parties to this CONTRACT intend that the relationship between <br /> them under this CONTRACT is that of LENDER-BORROWER, not employer-employee. No agent, <br /> employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, <br /> or servant of the CWCB. The BORROWER shall be solely and entirely responsible for its acts <br /> and the acts of its agents, employees, servants, engineering firms, construction firms, and <br /> subcontractors during the term of this CONTRACT. <br /> 6. Integration of Terms. This CONTRACT is intended as the complete integration of all <br /> understandings between the parties. No prior or contemporaneous addition, deletion, or other <br /> amendment hereto shall have any force or affect whatsoever unless embodied herein in writing. <br /> No subsequent renewal, addition, deletion, or other amendment hereto shall have any force or <br /> effect unless embodied in a written contract executed and approved pursuant to State fiscal <br /> rules, unless expressly provided for herein. <br /> 7. Order of Precedence. The provisions of this CONTRACT shall govern the relationship of the <br /> Parties. In the event of conflicts or inconsistencies between this CONTRACT and its exhibits <br /> and attachments, including, but not limited to, those provided by Contractor, such conflicts <br /> or inconsistencies shall be resolved by reference to the documents in the following order of <br /> priority: <br /> i. Colorado Special Provisions (provided that the parties hereby agree that, for <br /> the purposes of such Special Provisions "CONTRACTOR" shall mean <br /> "BORROWER") <br /> ii. The provisions of the main body of this CONTRACT <br /> iii. Appendices <br /> 8. Casualty and Eminent Domain. If, at any time, during the term of this CONTRACT, (a)the <br /> BORROWER'S PROJECT facilities, including buildings or any portion thereof, are damaged <br /> destroyed, in whole or in part, by fire or other casualty, or (b)title to or use of the PROJECT <br /> facilities or any part thereof shall be taken under the exercise of the power of eminent domain, <br /> the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to <br /> be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any <br /> portion thereof, or to repayment of this loan. Any net proceeds remaining after such work has <br /> been completed or this loan has been repaid, shall be retained by the BORROWER. If the net <br /> insurance proceeds are insufficient to pay the full cost of the replacement, repair and <br /> restoration, the BORROWER shall complete the work and pay any cost in excess of the net <br /> Loan Contract C150410C <br /> Page 7 of 12 <br />