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0 <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> The BORROWER has three outstanding revenue bond issues (1) $4,800,000 June 15, 1995, <br /> (2) $5,000,000 May 1, 1999, (3) $5,000,000 June 1, 2000, and two loans with Colorado <br /> Water Resources and Power Development Authority (1) $4,800,000 September 15, 1992, <br /> and (2) $1,617,221 September 15, 1998. The parity certificate dated November 5, 2004 <br /> establishing that the lien created by this loan has parity with the liens described above, is <br /> incorporated herein by reference. <br /> SECTION 6 —ADDITIONAL CONDITIONS& CONTRACT REQUIREMENTS <br /> No additional conditions or contract requirements. <br /> SECTION 7 — CONSTRUCTION FUND PROGRAM PROCEDURES <br /> A. The BORROWER shall employ an engineer, registered in the state of Colorado to <br /> prepare plans and specifications for the PROJECT. <br /> B. The BORROWER's and the Engineering Consultant's Agreements and the plans and <br /> specifications must be submitted to the CWCB staff for verification of compliance with <br /> the terms of this Contract when available prior to bidding. Any modifications to the <br /> plans and specifications must be approved in writing -t�%CWCR staff. <br /> C. For plans and specifications for all jurisdictional da ad it as defined by § <br /> 37-87-105 C.R.S., the BORROWER shall provide a letter o approval from the State <br /> Engineer's Office prior to construction. <br /> D. CWCB staff must be present at bidopen' n m ar 4�t�hpward of the <br /> construction contract. <br /> E. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, which said Construction Firms shall be selected by the <br /> BORROWER and found acceptable by the CWCB staff. <br /> F. The BORROWER must provide a copy of the executed construction contract documents <br /> consisting of the contractor's proposal, construction contract, performance bond, <br /> payment bond, notice of award, notice to proceed, sample change order, and sample <br /> field order, as well as the advertisement for bid and bid bond at bidding. After the <br /> CWCB staff verifies that these documents comply with the terms of this contract, the <br /> BORROWER may issue the notice to proceed to the Construction Firms. <br /> G. The BORROWER shall conduct a pre-construction conference at which time the CWCB <br /> staff shall have the opportunity to review and approve the construction schedule. <br /> H. If the CWCB staff determines that the PROJECT requires a resident inspector during <br /> construction, the BORROWER shall employ an inspector who has been approved by the <br /> CWCB staff. <br /> I. The BORROWER shall construct the PROJECT in accordance with the approved plans <br /> and specifications. <br /> J. Upon completion of the PROJECT construction, the BORROWER shall provide as-built <br /> Page 2 of 3 <br />