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B. PROJECT PROVISIONS <br /> 1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br /> BORROWER shall adhere to the CWCB Construction Fund Program Procedures <br /> (Section 8), of the Project Summary. <br /> 2. Eligible Expenses. The PROJECT expenses for which the BORROWER is eligible for <br /> loan disbursements are listed in Eligible Expenses (Section 9) of the Project <br /> Summary. <br /> 3. Loan Disbursements. The CVVCB shall disburse loan funds in accordance with the <br /> Disbursement Schedule (Section 10) 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 11) 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 lid`, t ction of the PROJECT, the <br /> BORROWER shall require the construction firm(s) and •Tc r t rs to maintain the <br /> following insurance coverage in the limits shown do •gni: �t f eir contracts for <br /> the construction of the PROJECT. The BOR R shall provi e CWCB with an <br /> Acord Form 27 evidencing said insurance il. 't' c -ment of construction, <br /> maintained until construction is complete, r. -n: s . o t CWCB with <br /> documentation of renewals of said insurance. No p n-'1. II ade 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 /> single limit for each occurrence and $2,000,000 general aggregate. This insurance <br /> coverage shall include products/completed operations and bodily injury/property <br /> Page 6 of 10 <br />