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maintained until construction is complete, and shall provide the CWCB with <br /> documentation of renewals of said insurance. No payments shall be made to the <br /> BORROWER unless all insurance certificates are current. <br /> a. Builder's risk insurance for construction in progress for all erils of loss including fire, <br /> wind, hail, and vandalism in an amount equal to t p ed value of the <br /> PROJECT. <br /> b. Worker's compensation and employer's liability s in the d statutory <br /> amounts. <br /> c. Automobile liability insurance that includes coverage for o , orr wned and <br /> hired vehicles with minimum limits of $1,000,000 combined sing r bodily <br /> injury and property damage. <br /> d. Commercial general liability insurance with minimum limits of$1,000,000 combined <br /> single limit for each occurrence and $2,000,000 general aggregate. This insurance <br /> coverage shall include products/completed operations and bodily injury/property <br /> damage. <br /> C. GENERAL PROVISIONS <br /> 1. Periodic Inspections. Throughout the term of this contract, the BORROWER shall permit <br /> a designated representative of the CWCB to make periodic inspections of the PROJECT. <br /> Such inspections shall cover the condition of the PROJECT, operating records, <br /> maintenance records, and financial records. These inspections are solely for the <br /> purpose of verifying compliance with the terms and conditions of this contract and shall <br /> not be construed nor interpreted as an approval of the actual design, construction or <br /> operation of any element of the PROJECT facilities <br /> 2. Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state, <br /> and local laws and regulations that are in effect or may hereafter be established <br /> throughout the term of this contract. <br /> 3. Designated Agent Of The CWCB. The CWCB's employees are designated as the <br /> agents of the CWCB for the purpose of this contract. <br /> 4. Assignment. The BORROWER may not assign this contract except with the prior written <br /> approval of the CWCB. <br /> 5. Contract Relationship. The parties to this contract intend that the relationship <br /> between them under this contract is that of lender-borrower, not employer-employee. <br /> No agent, employee, or servant of the BORROWER shall be, or shall be deemed to be, <br /> an employee, agent, or servant of the CWCB. The BORROWER shall be solely and <br /> entirely responsible for its acts and the acts of its agents, employees, servants, <br /> engineering firms, construction firms, and subcontractors during the term of this <br /> contract. <br /> 6. Integration Of Terms. This contract is intended as the complete integration of all <br /> Loan Contract C150209 <br /> Page 7 of 11 <br />