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2. Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state, <br /> and local laws and regulations that are in effect or may hereafter be established <br /> throughout the term of this CONTRACT. <br /> 3. Designated Agent Of The CWCB. The CWCB's employees are designated as the <br /> agents of the CWCB for the purpose of this CONTRACT. <br /> 4. Assignment. The BORROWER may not assign this CONTRACT except with the prior <br /> written approval of the CWCB. <br /> 5. Contract Relationship. The parties to this CONTRACT intend that the relationship <br /> between them under this CONTRACT is that of lender-borrower, not employer-employee. <br /> No agent, employee, or servant of the BORROWER shall be, or shall be deemed to be, <br /> an employee, agent, or servant of the CWCB. The BORROWER shall be solely and <br /> entirely responsible for its acts and the acts of its agents, employees, servants, <br /> engineering firms, construction firms, and subcontractors during the term of this <br /> CONTRACT. <br /> 6. Integration Of Terms. This CONTRACT is intended as the complete integration of all <br /> understandings between the parties. No prior or contemporaneous addition, deletion, <br /> or other amendment hereto shall have any force or effect whatsoever unless embodied <br /> herein in writing. No subsequent renewal, addition, deletion, or other amendment <br /> hereto shall have any force or effect unless embodied in a written CONTRACT executed <br /> and approved pursuant to STATE fiscal rules, unless expressly provided for herein. <br /> 7. Controlling Terms. In the event of conflicts or inconsistencies between the terms of <br /> this CONTRACT and conditions as set forth in any of the appendices, such conflicts or <br /> inconsistencies shall be resolved by reference to the documents in the following order <br /> of priority: (1) Colorado Special Provisions, provided that the parties hereby agree that, <br /> for the purposes of such Special Provisions, (a) "Contractor" shall mean BORROWER (2) <br /> the remainder of this CONTRACT, and (3) the Appendices. <br /> 8. Casualty and Eminent Domain. If, at any time, during the term of this CONTRACT, <br /> (a) the BORROWER'S PROJECT facilities including buildings or any portion thereof, are <br /> damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use <br /> of the PROJECT facilities or any part thereof shall be taken under the exercise of the <br /> power of eminent domain, the BORROWER shall cause the net proceeds of any <br /> insurance claim or condemnation award to be applied to the prompt replacement, repair <br /> and restoration of the PROJECT facilities or any portion thereof, or to repayment of this <br /> loan. Any net proceeds remaining after such work has been completed or this loan has <br /> been repaid, shall be retained by the BORROWER. If the net insurance proceeds are <br /> insufficient to pay the full cost of the replacement, repair and restoration, the <br /> BORROWER shall complete the work and pay any cost in excess of the net proceeds. In <br /> the event BORROWER chooses to repay the loan, BORROWER shall remain responsible <br /> for the full LOAN AMOUNT outstanding regardless of the amount of such insurance <br /> proceeds or condemnation award. <br /> Page 8 of 12 <br />