C-153757 PIF

• Contract/PO #: C-153757
• Contractor Name: Decker Lateral Company, The
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

drawings of the PROJECT to the CWCB staff, and, if required by § 37-87-105, C.R.S.
(1990), the BORROWER shall provide the same drawings to the State Engineer's Office for
approval and filing.
k. Upon completion of the PROJECT construction, the BORROWER shall arrange a final
inspection for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT.
2. Time For PROJECT Completion. The BORROWER recognizes that time is of the essence in
the performance of all of its obligations under this contract. Therefore, the BORROWER shall
commence with construction in order to complete the PROJECT no later than two (2) years
from the date of this contract. The time for completion of the PROJECT may be extended
subject to the approval of the STATE. The BORROWER must provide, in writing, documented
justification for any request for extension sixty (60) days prior to the end of the period for
completion.
3. Indemnification By The CONSTRUCTION FIRM. The BORROWER shall require all CONSTRUCTION
FIRMS and their subcontractors to indemnify the STATE and the BORROWER against all liability
and loss, and against all claims and actions based upon or arising out of damage or injury,
including death, to persons or property, caused by any acts or omissions of those parties or
sustained in connection with the performance of any contract related to the PROJECT or by
conditions created thereby, or based upon any violation of any statute, ordinance, or
regulation, and the defense of any such claims or actions.
4. Liability Insurance During Construction. The BORROWER shall require the CONSTRUCTION
FIRM and its subcontractors to maintain during the term of their contracts for construction of
the PROJECT the following insurance with a company that is satisfactory to the STATE:
4:3 ., h uL
a. Worker's compensation and employer's liability insurde+ t e atutory
amounts.
b. Automobile liability insurance which includes coverage for all owned, non-owned and
hired vehicles with minimum limits of $1,000,000 combined single limit for bodily injury
and 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 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.
Said general liability insurance shall name the BORROWER and the STATE as additional
insured. An additional insured endorsement and a current copy of a certificate of said liability
insurance must be provided to the STATE prior to commencement of construction and
maintained until construction is complete. No payments shall be made to the BORROWER
unless all insurance certificates are current. Notices of renewals of said policies shall also be
filed with the STATE as they occur.
During the time of construction, the STATE reserves the right to increase the above amount of
The Decker Lateral Company Page 3 of 14 Loan Contract