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B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of the PROJECT, <br /> the BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br /> (Section 8) of the PROJECT SUMMARY. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for <br /> loan disbursements are listed in Eligible Expenses (Section 9) of the PROJECT <br /> SUMMARY. <br /> 3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br /> Disbursement Schedule (Section 10) of the PROJECT SUMMARY. <br /> 4. Time for Performance. The BORROWER recognizes that time is of the essence in the <br /> performance of all of its obligations under this CONTRACT. Therefore, the BORROWER <br /> shall complete the PROJECT within the time specified in Time for Performance (Section <br /> 11) of the PROJECT SUMMARY. <br /> 5. Indemnification by the Construction Firm. The BORROWER shall require all <br /> construction firms and their subcontractors to indemnify the STATE and the BORROWER <br /> against all liability and loss, and against all claims and actions based upon or arising <br /> out of damage or injury, including death, to persons or property, caused by any acts <br /> or omissions of those parties or sustained in connection with the performance of any <br /> contract related to the PROJECT or by conditions created thereby, or based upon any <br /> violation of any statute, ordinance, or regulation, and the defense of any such claims <br /> or actions. <br /> 6. Liability Insurance during Construction. During construction of the PROJECT, the <br /> BORROWER shall require the construction firm(s) and any subcontractors to maintain <br /> the following insurance coverage in the limits shown during the term of their contracts <br /> for the construction of the PROJECT. If requested by CWCB, the BORROWER shall <br /> provide the CWCB with an Acord Form 25 evidencing said insurance prior to <br /> commencement of construction and maintained until construction is complete. The <br /> BORROWER shall provide the CWCB with documentation of renewals of said <br /> insurance. No payments shall be made to the BORROWER unless all insurance <br /> certificates are current. <br /> a. Commercial general liability insurance with minimum limits of $1,000,000 <br /> combined single limit for each occurrence and $2,000,000 general aggregate. <br /> This insurance coverage shall include products/completed operations and bodily <br /> injury/property damage. <br /> b. Worker's compensation and employer's liability insurance in the required statutory <br /> amounts. <br /> c. Automobile liability insurance that includes coverage for all owned, non-owned and <br /> hired vehicles with minimum limits of $1,000,000 combined single limit for bodily <br /> injury and property damage. <br /> Page 7 of 13 <br />