C153769 Paid in Full Contract

• Contract/PO #: C153769
• Contractor Name: Agricultural Ditch and Reservoir Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

construction, the BORROWER shall employ an inspector who has been approved by the
• CWCB staff.
i. The BORROWER shall construct the PROJECT in accordance with approved plans and
specifications.
j. Upon completion of the PROJECT construction, the : • ERs p v' as-built
drawings of the PROJECT to the CWCB staff, and, if 'e, -d • 37- 5, C.R.S.
(1990), the BORROWER shall provide the same drawings to t e - - -is Office for
approval and_filing. ir
k. Upon coinpletidn of the PROJECT construction, the BORROWER shall arrAgg a final
inspection for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTAN .
2. Time For PROJECT Completion. The BORROWER recognizes that time is �f the essence in
the performance of all of its obligations under this contract. Therefore, the BORROWER shall
commence with construction in order to complete the PROJECT no later then two (2) years
from the date of this contract. The time for completion of the PROJECT may be extended
subject to the approval of the STATE. The BORROWER must provide, in writing, documented
justification for any request for extension sixty (60) days prior to the end of the period for
completion.
3. 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 violation of any statute, .. .
ordinance, or regulation, and the defense of any such claims or actions.
4. Liability Insurance During Construction. The BORROWER shall require the CONSTRUCTION
FIRM and its subcontractors to maintain during the term of their contracts for construction of
the PROJECT the following insurance with a company that is satisfactory to th STATE:
a. Worker's compensation and employer's liability insurance in the r quired statutory
amounts.
b. Automobile liability insurance which includes coverage for all owned, non-owned and
hired vehicles with minimum limits of $1,000,000 combined single limit for bodily injury
and property damage.
c. Commercial general liability insurance with minimum limits of$1,000,00 combined single
limit for each occurrence and $2,000,000 general aggregate. This in urance coverage
shall include products/completed operations and personal injury. t.;
1
d. Builder's risk insurance for construction in progress for all perils of loss including fire, 4
wind, hail, vandalism, and flood in an amount equal to the completed value of the
PROJECT. i '
Said general liability insurance shall name the BORROWER and the ST TE as additional
The Agricultural Ditch and Reservoir Company Page 3 of 14 Loan Contract