C153857 PIF

• Contract/PO #: C153857
• Contractor Name: Western Mutual Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

undue hardship to the BORROWER and approved a loan to the BORROWER from the Small Project •
Loan Account of up to $100,000 at an interest rate of 3.75% per annum for a duration of 20 years.
10. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon
mutually agreeable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained herein, the
parties agree as follows:
A. The BORROWER agrees as follows:
1. Construction Fund Program Procedures. The following items are procedures the BORROWER
shall follow during the construction phase of the PROJECT.
a. The BORROWER shall employ an engineer, registered in the State of Colorado, hereinafter
referred to as the CONSULTANT, to prepare plans and specifications for the PROJECT.
b. The agreement between the BORROWER and the CONSULTANT and the plans and specifications
must be submitted to the CWCB staff for verification of compliance with the terms of this contract
prior to bid opening. Any modifications to the plans and specifications must be approved in
writing by the CWCB staff.
c. For plans and specifications for all jurisdictional dams and reservoirs, as defined by § 37-87-105
C.R.S. (1997), the BORROWER shall provide a letter of approval from the State Engineer's Office
prior to construction.
d. CWCB staff must be present at bid opening and must approve the award of the construction
contract.
e. The BORROWER shall contract for the construction of the work with responsible and capable
firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be
selected by the BORROWER and found acceptable by the CWCB staff before work under this
contract begins.
f. The BORROWER must provide a copy of the executed construction contract documents consisting
of the advertisement for bid, contractor's proposal, construction contract, bid bond, performance
bond, payment bond, notice of award, notice to proceedp� r� ce d sample field
order. After the CWCB staff verifies that these documertts c�(�,, h this contract,
the BORROWER may issue the notice to proceed to the CONSTRUCTION FIRMS.
g. The BORROWER shall conduct a pre-construction conference at which time the CWCB staff shall
have the opportunity to review and approve the construction schedule.
h. If the CWCB staff determines that the PROJECT requires a resident inspector during construction,
the BORROWER shall employ an inspector who has been approved by the CWCB staff.
i. The BORROWER shall construct the PROJECT in accordance with the approved plans and
specifications.
j. Upon completion of the PROJECT construction, the BORROWER shall provide as-built drawings of
the PROJECT to the CWCB staff, and, if required by § 37-87-105, C.R.S. (1997), the BORROWER
shall provide the same drawings to the State Engineer's Office for approval and filing.
Western Mutual Ditch Company Page 2 of 13 Loan Contract