C150220 PIF Contract

• Contract/PO #: C150220
• Contractor Name: Abbott Ranch
• Contract Type: Loan
• Water District: 1
• County: Elbert
• Loan Projects - Doc Type: Contract Documents

•
judicial proceedings to require specific performance of this contract, or by such other
proceedings in law or equity as may be deemed necessary by the CWCB to ensure
compliance with provisions of this contract and the laws and regulations under which
this contract is executed. The CWCB's exercise of any or all of the remedies
described herein shall not relieve the BORROWER of any of its duties and obligations
under this contract.
15. Operation of PROJECT. The BORROWER shall, without, I:
exp • li ility to the
;
CWCB, manage, operate, and maintain the PROJEc
uously i icient and
economical manner.
16. BORROWER'S Liability Insurance. 4,,,1"/
a. Upon execution of this contract and continuing until complete repayment of the loan
is made to the CWCB, the BORROWER shall maintain commercial general liability
insurance, with a company that is satisfactory to the CWCB, with minimum limits of
$1,000,000 combined single limit for each occurrence and $2,000,000 general
aggregate, including products/completed operations and personal injury.
b. Prior to the disbursement of any loan funds, the BORROWER shall provide the CWCB
Y � p
with an Acord Form 25 evidencing said insurance and shall provide the CWCB with
documentation of renewals of said insurance.
17. Additional Contract Requirements. Any additional contract requirements are set
forth in Additional Contract Requirement (Section 7) of the Project Summary.
B. PROJECT PROVISIONS
1. Construction Fund Program Procedures. During the completion of the PROJECT, the
BORROWER shall adhere to the CWCB Construction Fund Program Procedures
(Section 8), of the Project Summary.
2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for
loan disbursements are listed in Eligible Expenses (Section 9) of the Project
Summary.
3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the
Disbursement Schedule (Section 10) of the Project Summary.
4. Time for Performance. The BORROWER recognizes that time is of the essence in the
performance of all of its obligations under this contract. Therefore, the BORROWER shall
complete the PROJECT within the time specified in Time for Performance (Section 11) of
the Project Summary.
5. Indemnification By The Construction Firm. The BORROWER shall require all
Construction Firms and their subcontractors to indemnify the STATE and the BORROWER
against all liability and loss, and against all claims and actions based upon or arising
out of damage or injury, including death, to persons or property, caused by any acts or
omissions of those parties or sustained in connection with the performance of any
contract related to the PROJECT or by conditions created thereby, or based upon any
Loan Contract C150220
Page 5 of 11