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specific performance of this CONTRACT, or by such other proceedings in law or equity as may <br /> be deemed necessary by the CWCB to ensure compliance with provisions of this CONTRACT <br /> and the laws and regulations under which this CONTRACT is executed. The CWCB's exercise <br /> of any or all of the remedies described herein shall not relieve the BORROWER of any of its <br /> duties and obligations under this CONTRACT. <br /> 14. Operation of PROJECT. The BORROWER shall, without expense or legal liability to the <br /> CWCB, manage, operate, and maintain the PROJECT continuously in an efficient and <br /> economical manner. <br /> 15. BORROWER'S Liability Insurance. Upon execution of this CONTRACT and continuing until <br /> complete repayment of the loan is made to the CWCB, the BORROWER shall maintain <br /> commercial general liability insurance, with a company that is satisfactory to the CWCB, <br /> with minimum limits of si,000,000 combined single limit for each occurrence and <br /> $z,000,000 general aggregate, including products/completed operations and personal <br /> injury. <br /> 16. Additional Contract Requirements.Any additional contract requirements are set forth <br /> in Additional Conditions & Contract Requirements, Section 7 of the PROJECT SUMMARY. <br /> B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br /> BORROWER shall adhere to the CWCB Construction Fund Program Procedures, Section 8 of <br /> the PROJECT SUMMARY. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for loan <br /> disbursements are listed in Eligible Expenses, Section 9 of the PROJECT SUMMARY. <br /> 3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br /> Disbursement Schedule, Section io 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 shall <br /> complete the PROJECT within the time specified in Time for Performance, Section 11 of the <br /> PROJECT SUMMARY. <br /> 5. Indemnification by the Construction Firm. The BORROWER shall require all Construction <br /> Firms and their subcontractors to indemnify the State and the BORROWER against all liability <br /> and loss, and against all claims and actions based upon or arising out of damage or injury, <br /> including death, to persons or property, caused by any acts or omissions of those 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 PROJECT, the <br /> BORROWER shall require the construction contractor and any subcontractors to maintain the <br /> following insurance coverage, in the limits shown, during the term of their contracts and until <br /> Page 7 of 14 <br />