Laserfiche WebLink
SECTION 5—SCHEDULE OF EXISTING DEBT <br /> No other debt, backed by the assessment revenues, exists. <br /> SECTION 6—LOAN SECURITY AND COLLATERAL <br /> The SECURITY provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 4) and DEED OF TRUST (APPENDIX 5), incorporated herein, shall be <br /> a pledge of assessment revenues and the Water Rights as more particularly described <br /> in the attached DEED OF TRUST. <br /> SECTION 7—ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br /> No funds will be disbursed until the BORROWER prepares and records an easement <br /> encompassing the West Reservoir No.1 high water limits and additional perimeter <br /> maintenance access. <br /> SECTION 8—"CONSTRUCTION FUND PROGRAM" PROCEDURES FOR PROJECTS <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, selected by the BORROWER and found acceptable by <br /> the CWCB staff. <br /> G. The BORROWER must provide a copy of the following construction contract <br /> documents: executed contractor's proposal, executed construction contract, <br /> executed performance bond, executed payment bond, executed notice of award, <br /> proposed notice to proceed, sample change order, and sample field order, as well <br /> as the advertisement for bid and bid bond at bidding. After the CWCB staff verifies <br /> that these documents comply with the terms of this CONTRACT, the BORROWER may <br /> issue the notice to proceed to the Construction Firms. <br /> Appendix 1 <br /> Page 2 of 4 <br />