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facilities or any portion thereof. Any net proceeds remaining after such work has been completed
<br /> shall be paid to the BORROWER. If the net proceeds are insufficient to pay the full cost of the
<br /> replacement, repair and restoration, the BORROWER shall complete the work and pay any cost in
<br /> excess of the net proceeds.
<br /> 9. Captions. The captions and headings contained in this contract are for convenience and
<br /> reference only and shall not be construed so as to define or limit the tertjns or provisions contracted
<br /> herein.
<br /> 10. STATE'S approval. This contract requires review and approval s, - • if'cations, and
<br /> various other technical and legal documents. The STATE'S review of t e • .,4 n i •my for the
<br /> purpose of verifying BORROWER'S compliance with this contract and s .. •nstrued or
<br /> interpreted as a technical review or approval of the actual de •• truction of the PROJECT
<br /> rehabilitation. Notwithstanding any consents or approvals give t • ' I►': : Eon any
<br /> such documents, BORROWER and its CONSULTANT preparing any u h • • -n s ha •e solely
<br /> responsible for the accuracy and completeness of any of the constructi•n do -
<br /> 11. Addresses for mailing. All notices, correspondence, or other • •cuments required by this
<br /> contract shall be delivered or mailed to the following addresses:
<br /> For the STATE: For the BORRO ER:
<br /> Colorado Water Conservation Board The Tremont M tual Ditch Company
<br /> 1313 Sherman Street, Room 721 P. 0. Box 711
<br /> Denver, CO 80203 Snyder, CO 80 50
<br /> Attn: William P. Stanton, Section Chief Attn: Etson La e, President
<br /> D. Special provisions (1993 version)
<br /> 1. Controller's approval. This contract shall not be deemed valid until it shall have been appr..ved by the Controller of the State of
<br /> Colorado or such assistant as he may designate. This provision is applicable to any contract involving he payment of money by the STATE.
<br /> 2. Fund availability. Financial obligations of the State of Colorado payable after the current fi- :1 year are contingent upon funds for
<br /> that purpose being appropriated, budgeted, and otherwise made available.
<br /> 3. Bond requirement. If this contract involves the payment of more than fifty thousand dollar for the construction, erection, repair,
<br /> maintenance, or improvement of any building,road,bridge,viaduct,tunnel,excavation or other public wor for this STATE, the CONTRACTOR shall,
<br /> before entering upon the performance of any such work included in this contract, duly execute and deli er to the STATE official who will sign
<br /> the contract, a good and sufficient bond or other acceptable surety to be approved by said official in a p-nal sum not less than one-half of the
<br /> total amount payable by the terms of this contract. Such bond shall be duly executed by a qualified orporate surety conditioned upon the
<br /> faithful performance of the contract and in addition, shall provide that if the CONTRACTOR or his subcon rectors fail to duly pay for any labor,
<br /> materials, team hire, sustenance, provisions, provendor or other supplies used or consumed by such CONTRACTOR or his subcontractor in
<br /> performance of the work contracted to be done or fails to pay any person who supplies rental machinery, tools, or equipment in the prosecution
<br /> of the work the surety will pay the same in an amount not exceeding the sum specified in the bond,tog:ther with interest at the rate of eight
<br /> per cent per annum. Unless such bond is executed, delivered and filed, no claim in favor of the CONTRA TOR arising under such contract shall
<br /> be audited, allowed or paid. A certified or cashier's check or a bank money order payable to the Tree, rer of the State of Colorado may be
<br /> accepted in lieu of a bond. This provision is in compliance with C.R.S. 38-26-106.
<br /> 4. Indemnification. To the extent authorized by law,the CONTRACTOR shall indemnify,save, and old harmless the STATE,its employees
<br /> and agents, against any and all claims, damages, liability and court awards including costs, expenses, an attorney fees incurred as a result of
<br /> any act or omission by the CONTRACTOR, or its employees, agents, subcontractors, or assignees pursua t to the terms of this contract.
<br /> 5. Discrimination and affirmative action. The CONTRACTOR agrees to comply with t letter and spirit of the Colorado
<br /> Antidiscrimination Act of 1957, as amended, and other applicable law respecting discrimination and unfai employment practices(C.R.S.24-34-
<br /> Tremont Mutual Ditch Company Page 8 of 10 Loan Contract
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