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16.Additional Contract Requirements. Any additional CONTRACT requirements are set <br /> forth in Section 7 of Appendix 1. <br /> B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of the PR JECT, the <br /> BORROWER shall adhere to the CWCB Construction Fund Program Procedures et forth in <br /> Section 8 of Appendix 1. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligib e for loan <br /> disbursements are set forth in Section 9 of Appendix 1. <br /> 3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br /> Disbursement Schedule set forth in Section 10 of Appendix 1. <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 shall <br /> complete the PROJECT within the time specified set forth in Section 11 of Appendix 1 <br /> 5. Indemnification by the Construction Firm. The BORROWER shall require all c nstruction <br /> firms and their subcontractors to indemnify the STATE and the BORROWER agains all liability <br /> and loss, and against all claims and actions based upon or arising out of damag or injury, <br /> including death, to persons or property, caused by any acts or omissions of thos parties or <br /> sustained in connection with the performance of any contract related to the PROJECT or by <br /> conditions created thereby, or based upon any violation of any statute, ordinance, or <br /> regulation, and the defense of any such claims or actions. <br /> 6. Liability Insurance during Construction. During construction of the PR JECT, the <br /> BORROWER shall require the construction firm(s) and any subcontractors to m intain the <br /> following insurance coverage in the limits shown during the term of their contr cts for the <br /> construction of the PROJECT. If requested by CWCB, the BORROWER shall p Ovide the <br /> CWCB with an Acord Form 25 evidencing said insurance prior to commen ment of <br /> construction and maintained until construction is complete. The BORROWER shall provide <br /> the CWCB with documentation of renewals of said insurance. No payments shall be made <br /> to the BORROWER unless all insurance certificates are current. <br /> a. 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 /> 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 hired <br /> vehicles with minimum limits of $1,000,000 combined single limit for bodily injury and <br /> property damage. <br /> C. GENERAL PROVISIONS <br /> 1. Periodic Inspections. Throughout the term of this CONTRACT, the BORROWER shall permit <br /> Page 7 of 13 <br />