C150062 Paid in Full Documents

• Contract/PO #: C150062
• Contractor Name: Town of Monument
• Contract Type: Loan
• Loan Projects - Doc Type: Repayment Information

property damage.
c. Commercial general liability insurance with minimum limits of $1,000,000 combined single
limit for each occurrence and $2,000,000 general aggregate. This insurance coverage
shall include products/completed operations and personal injury.
d. Builder's risk insurance for construction in progress for all perils of loss including fire, wind,
hail, vandalism, and flood in an amount equal to the completed value of the PROJECT.
During the time of construction, the CWCB reserves the right to increase the above amount of
insurance so that said amounts at a minimum correspond to the amount established by the
Colorado Governmental Immunity Act, now and as hereafter amended.
C. GENERAL PROVISIONS
1. Periodic Inspections. Throughout the term of this contract, the BORROWER shall permit a
designated representative of the CWCB to make periodic inspections of the PROJECT. Such
inspections are solely for the purpose of verifying compliance with the terms and conditions of
this contract. Furthermore, such inspections shall cover the condition of the PROJECT,
operating records, maintenance records, and financial records, and shall not be construed nor
interpreted as an approval of the actual design and/or construction of any element of the
PROJECT facilities.
2. Adhere To Applicable Laws. The BORROWER shall strictly adhere to all applicable federal,
state, and local laws and regulations that are in effect or may hereafter be established
throughout the term of this contract.
3. Designated Agent Of The CWCB. The CWCB's agents and employees are hereby
designated as the agents of the STATE for the purpose of this contract.
4. Contract Is Not Assignable. The BORROWER may not assign this\cot tra t except with the
prior written approval of the CWCB.
5. Contract Relationship. The parties to this contract intend that the relationship between them
under this contract is that of lender-borrower, not emp1 yererr plo I agent e-mployee,
or servant of the BORROWER shall be, or shall be deemedto be,. n�err plOyef,;agent, or
i
servant of the CWCB. The BORROWER shall be solely andtenti elyresp6nsble orft-acts and
the acts of its agents, employees, servants, engineering firms, construction firms, and
subcontractors during the term of this contract.
6. Complete Integration Of All Understandings. This agreement is intended as the complete
integration of all understandings between the parties. No prior or contemporaneous addition,
deletion, or other amendment hereto shall have any force or effect whatsoever unless
embodied herein in writing. No subsequent novation, renewal, addition. deletion, or other
amendment hereto shall have any force or effect unless embodied in a written contract
executed and approved pursuant to STATE fiscal rules, unless expressly provided for herein.
7. In Event Of A Conflict. In the event of conflict between the terms of this contract and
conditions as set forth in any of the appendices, the provisions of this contract shall control.
8. CWCB May Release Contract. In its sole discretion, the CWCB may at any time give any
consent, deferment, subordination, release, satisfaction, or termination of any or all of the
BORROWER'S obligations under this contract, with valuable consideration, upon such terms and
conditions as the CWCB may determine to be advisable to further the purposes of this
contract or to protect the CWCB's financial interest therein, and consistent with both the
Town of Monument Page 6 of 9 Loan Contract