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SECTION 6—LOAN SECURITY <br /> The SECURITY provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 5) and DEED OF TRUST (APPENDIX 6) and incorporated <br /> herein, shall be a pledge of assessment revenues backed by a assessment <br /> covenant and an undivided one hundred percent (100%) interest in the Brighton <br /> Ditch diversion and headgate structure, as more particularly described in the <br /> attached DEED OF TRUST(APPENDIX 6)and in accordance with CWCB Policy No. 5. <br /> SECTION 7—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> None. <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 by <br /> § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br /> 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 /> H. The BORROWER shall conduct a pre-construction conference at which time the <br /> CWCB staff shall have the opportunity to review and approve the construction <br /> schedule. <br /> I. If the CWCB staff determines that the PROJECT requires a resident inspector during <br /> construction, the BORROWER shall employ an inspector who has been approved by <br /> Appendix 1 <br /> Page 2 of 4 <br />