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local laws and regulations that are in effect or may hereafter be established throughout the <br /> term of this CONTRACT. <br /> 3. Assignment. BORROWER's rights and obligations, under this CONTRACT, are personal <br /> and may not be transferred, assigned without the prior, written consent of the State. Any <br /> attempt at assignment without such consent shall be void. All assignments approved by <br /> the BORROWER or the State are subject to all of the provisions hereof. <br /> 4. Binding Effect. All provisions herein contained, including the benefits and burdens, <br /> shall extend to and be binding upon the Parties' respective heirs, legal representatives, <br /> successors, and assigns. <br /> 5. Captions. The captions and headings in this CONTRACT are for convenience of reference <br /> only, and shall not be construed so as to define, or limit its provisions. <br /> 6. Casualty and Eminent Domain. If, at any time during the term of this CONTRACT, <br /> (a) the PROJECT facilities, including buildings or any portion thereof, are damaged or <br /> destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT <br /> facilities or any part thereof shall be taken under the exercise of the power of eminent <br /> domain, the BORROWER shall cause the net proceeds of any insurance claim or <br /> condemnation award to be applied to the prompt replacement, repair and restoration of <br /> the PROJECT facilities or any portion thereof, or to repayment of this loan.Any net proceeds <br /> remaining after such work has been completed or this loan has been repaid, shall be <br /> retained by the BORROWER. If the net insurance proceeds are insufficient to pay the full <br /> cost of the replacement, repair and restoration, the BORROWER shall complete the work <br /> and pay any cost in excess of the net proceeds. In the event the BORROWER chooses to <br /> apply the net proceeds of an insurance claim or a condemnation award to repayment of <br /> the loan, the BORROWER shall repay the full TOTAL LOAN AMOUNT outstanding regardless of <br /> the amount of such insurance proceeds or condemnation award. <br /> 7. 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, an <br /> employee, agent, or servant of the CWCB. The BORROWER shall be solely and entirely <br /> responsible for its acts and the acts of its agents, employees, servants, engineering firms, <br /> construction firms, and subcontractors during the term of this CONTRACT. <br /> 8. Controlling Terms. The provisions of this Contract shall govern the relationship of the <br /> Parties. In the event of conflicts or inconsistencies between the terms of this CONTRACT and <br /> conditions as set forth in any of the appendices, such conflicts or inconsistencies shall be <br /> resolved by reference to the documents in the following order of priority: (i) Colorado <br /> Special Provisions, provided that the parties hereby agree that, for the purposes of such <br /> Special Provisions, the "Contractor" shall mean the BORROWER, (2) the remainder of this <br /> CONTRACT, and (3) the Appendices. <br /> 9. CORA Disclosure. To the extent not prohibited by federal law, this CONTRACT and the <br /> Page 10 of 14 <br />