C150048 Paid in Full Contract

• Contract/PO #: C150048
• Contractor Name: Plumb and Dailey Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

the STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM.
g. Engineering services for construction management, including design and construction
management for STATE-approved change orders.
h. Legal services for reviewing engineering services contra ts, revie ' 'a reviewing
construction contract documents, and for complying with I,n4 state, ='''f.•<<'' regulatory
requirements.
7. STATE May Release Contract. In its sole discretion, the STATE may y . e consent,
deferment, subordination, release, satisfaction, or termination of any ora f - R-OWER'S
obligations under this contract, with valuable consideration, upon such terms and c• tions as
the STATE may determine to be advisable to further the purposes of this contract or to protect the
STATE'S financial interest therein, and consistent with both the statutory purposes of this contract
and the limitations of the statutory authority under which it is made.
8. Casualty And Eminent Domain. If, at any time, during the term of this contract, (a) the
BORROWER'S PROJECT facilities including buildings or any portion thereof, are damaged or
destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT
facilities or any part thereof shall be taken under the exercise of the power of eminent domain, the
BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be
applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion
thereof, or to repayment of this loan. Any net proceeds remaining after such work has been
completed shall be retained by the BORROWER. If the net insurance proceeds are insufficient to
pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the
work and pay any cost in excess of the net proceeds. In the event Borrower opts to repay the
loan, Borrower shall remain responsible for the full loan amount outstanding regardless of the
amount of such insurance proceeds or condemnation award.
9. Captions. The captions and headings contained in this contract are for convenience and
reference only and shall not be construed so as to define or limit the terms or provisions
contracted herein.
10. STATE'S Approval. This contract requires review and approval of plans, specifications, and
various other technical and legal documents. The STATE'S review of these documents is only for
the purpose of verifying BORROWER'S compliance with this contract and shall not be construed or
interpreted as a technical review or approval of the actual design or construction of the PROJECT
rehabilitation. Notwithstanding any consents or approvals given to the BORROWER by the STATE
on any such documents, BORROWER and its CONSULTANT, by preparing any such documents,
shall be solely responsible for the accuracy and completeness of any of said documents.
11. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of
any other term, or of any subsequent breach of the same term.
12. Addresses for mailing. All notices, correspondence, or other documents required by this
contract shall be delivered or mailed to the following addresses:
For the STATE: For the BORROWER:
Colorado Water Conservation Board Plumb and Dailey Ditch Company
Attn: Construction Fund Section 9595 Nelson Road— Box C
1313 Sherman Street, Room 721 Longmont, CO 80501
Denver, CO 80203
Plumb and Dailey Ditch Company Page 9 of 12 Loan Contract