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15. Additional Contract Requirements. Any additional contract requirements are set <br /> forth in Additional Contract Requirement (Section 6) 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 Fixc4 Program Procedures <br /> (Section 7) of the Project Summary. O <br /> 2. Eligible Expenses. The PROJECT expenses for w ich the-Bo ER is Eligible for <br /> loan disbursements are listed in Eligible Expe ( con 8) o1"The Project <br /> Summary. ` .� <br /> 3. Loan Disbursements. The CWCB shall disburse loan fund 1n ' r r c with the <br /> Disbursement Schedule (Section 9) 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 10) of <br /> 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 or <br /> 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 or <br /> 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 the <br /> following insurance coverage in the limits shown during the term of their contracts for <br /> the construction of the PROJECT. The BORROWER shall provide the CWCB with an <br /> Acord Form 27 evidencing said insurance prior to commencement of construction, <br /> maintained until construction is complete, and shall provide the CWCB with <br /> documentation of renewals of said insurance. No payments shall be made to the <br /> BORROWER unless all insurance certificates are current. <br /> a. Builder's risk insurance for construction in progress for all perils of loss including fire, <br /> wind, hail, and vandalism in an amount equal to the completed value of the <br /> PROJECT. <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 /> d. Commercial general liability insurance with minimum limits of $1,000,000 combined <br /> Page 6 of 10 <br />