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13. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liabili y to the <br /> CWCB, manage, operate and maintain the PROJECT continuously in an affic ent and <br /> economical manner. <br /> 14. BORROWER'S Liability Insurance. <br /> a. Because the BORROWER is a "public entity" within the meaning of the I olorado <br /> Governmental Immunity Act, CRS 24-10-101, et ses amended (" t"), the <br /> BORROWER shall at all times maintain such liability in b erci:I policy <br /> or self-insurance as is necessary to meet its lia.' ' '-s and <br /> b. Prior to the disbursement of any loan funds, t : • o sail pro id th CWCB <br /> with an Acord Form 25 or other form satisfacto to : -vie en«ng said <br /> insurance and shall provide the CWCB with documen at V• e . tals of said <br /> insurance. A <br /> 15.Additional Contract Requirements. Any additional contract requirem:nts are set <br /> forth in Additional Contract Requirement (Section 6) of the Project Sum ary. <br /> B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of theRO ECT, the <br /> BORROWER shall adhere to the CWCB Construction Fund Program Procedures Section <br /> 7) of the Project Summary. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER i eli!ible for <br /> loan disbursements are listed in Eligible Expenses (Section 8) of the Project <br /> Summary. <br /> 3. Loan Disbursements. The CWCB shall disburse loan funds in accorda ice ith the <br /> Disbursement Schedule (Section 9) of the Project Summary. <br /> 4. Time for Performance. The BORROWER recognizes that time is of the a en, - in the <br /> performance of all of its obligations under this contract. Therefore, the Bo Ro R shall <br /> complete the PROJECT within the time specified in Time for Performance ( act 4 n 10) of <br /> the Project Summary. <br /> 5. Indemnification By The Construction Firm. The BORROWER shall re, uire all <br /> Construction Firms and their subcontractors to indemnify the STATE and the B.-ROWER <br /> against all liability and loss, and against all claims and actions based upon • arising <br /> out of damage or injury, including death, to persons or property, caused b' an acts or <br /> omissions of those parties or sustained in connection with the perform n : of any <br /> contract related to the PROJECT or by conditions created thereby, or bas d u•on any <br /> violation of any statute, ordinance, or regulation, and the defense of any s ch •'aims or <br /> actions. <br /> 6. Liability Insurance During Construction. During construction of the IROJ CT, the <br /> BORROWER shall require the construction firm(s) and any subcontractors to mai tain the <br /> following insurance coverage in the limits shown during the term of their cont acts for <br /> the construction of the PROJECT. The BORROWER shall provide the C CB with an <br /> Loan Contract C150335 <br /> Page 6 of 12 <br />