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D. Public Entities <br /> If Borrower is a"public entity" within the meaning of the Colorado ovemmental Immunity <br /> Act, §24-10-101,et seq., C.R.S. (the"GIA"),Borrower shall maintai;., in lieu of the liability <br /> insurance requirements stated above,at all times during the term of thi Contract such liability <br /> insurance,by commercial policy or self-insurance,as is necessary to meet its liabilities under <br /> the GIA. Certificates <br /> Borrower shall provide to the State certificates evidencing Borrowr's insurance coverage <br /> required in this Contract within seven (7) Business Days following the Effective Date. No <br /> later than fifteen(15)days before the expiration date of Borrower's coverage,Borrower shall <br /> deliver to the State certificates of insurance evidencing renewals of coverage. At any other <br /> time during the term of this Contract,upon request by the State,Borrower shall,within seven <br /> (7)Business Days following the request by the State,supply to the State evidence satisfactory <br /> to the State of compliance with the provisions of this section. <br /> 20. BREACH OF CONTRACT <br /> In the event of a Breach of Contract, the aggrieved Party shall give written notice of breach to the <br /> other Party. If the notified Party does not cure the Breach of Contract, at its sole expense, within <br /> thirty(30) days after the delivery of written notice, the Party may exercise any of the remedies as <br /> described in§21 for that Party.Notwithstanding any provision of this Contract to the contrary,the <br /> State, in its discretion, need not provide notice or a cure period and may I immediately terminate <br /> this Contract in whole or in part or institute any other remedy in this Contract in order to protect <br /> the public interest of the State;or if Borrower is debarred or suspended under§24-109-105,C.R.S., <br /> the State, in its discretion, need not provide notice or cure period and may terminate this Contract <br /> in whole or in part or institute any other remedy in this Contract as of the date that the debarment <br /> or suspension takes effect. <br /> 21. REMEDIES <br /> A. State's Remedies <br /> i. Loan Default Remedies <br /> Upon default in the payments to be made by the Borrower under his Contract,or default <br /> in the performance of any covenant or agreement contained herein, the CWCB, at its <br /> option,may do any of the following: <br /> a. Suspend this Contract and withhold further loan disbursements pending corrective <br /> action by the Borrower and if the Borrower does not cure the default as provided <br /> for below, permanently cease loan disbursements and deem the Project <br /> substantially complete. <br /> b. Declare the entire unpaid principal amount of the Promissory Note, accrued <br /> interest, and late charges, if any,then outstanding immediately due and payable. <br /> c. Exercise its rights under any appendices to this Contract, including, but not <br /> limited to, the Promissory Note, Security Agreement, and/or any instrument <br /> securing pledged revenues and property. <br /> d. Take any other action deemed appropriate by the CWCB. <br /> Contract Number:CT2019-3463 Page 13 of 20 Version 0119 <br />