CT2018-2028 Contract

• Contract/PO #: CT2018-2028
• Contractor Name: Left Hand Water District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

For any dispute not involving Borrower's default on the Loan, if the initial resolution
described in§19.A.fails to resolve the dispute within 60 Business Days,Borrower shall
submit any alleged breach of this Contract by the State to the Procurement Official of
the Colorado Department of Natural Resources as described in§24-101-301(30),C.R.S.for
resolution in accordance with the provisions of§§24-106-109, 24-109-101.1, 24-109-
101.5, 24-109-106, 24-109-107, 24-109-201 through 24-109-206, and 24-109-501
through 24-109-505,C.R.S.,(the"Resolution Statutes"),except that if Borrower wishes
to challenge any decision rendered by the Procurement Official, Borrower's challenge
shall be an appeal to the executive director of the Department of Personnel and
Administration, or their delegate, under the Resolution Statutes before Borrower
pursues any further action as permitted by such statutes. Except as otherwise stated in
this Section, all requirements of the Resolution Statutes shall apply including,without
limitation, time limitations, regardless of whether this Contract is subject to the
Colorado Procurement Code.
ii. Resolution of Controversies Regarding Loan Default
For any dispute not involving Borrower's default on the Loan, if the initial resolution
described in §19 fails to resolve the dispute within 60 Business Days, the CWCB will
submit the dispute to the CWCB board for review, who will determine a resolution to
the dispute.
19. REMEDIES
A. State's Remedies
i. Loan Default Remedies
Upon default in the payments to be made by the Borrower under this Contract,or default
in the performance of any covenant or agreement contained herein, the CWCB, at its
option,may do any of the following:
a. Suspend this Contract and withhold further loan disbursements pending corrective
action by the Borrower and if the Borrower does not cure the default as provided
for below, permanently cease loan disbursements and deem the Project
substantially complete.
b. Declare the entire principal amount,accrued interest,and late charges,if any,then
outstanding immediately due and payable.
c. Exercise its rights under any appendices to this Contract, including, but not
limited to, the Promissory Note, Security Agreement, and/or any instrument
securing pledged revenues.
d. Take any other action deemed appropriate by the CWCB.
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Contract Number:CT2018-2028