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PROJ00025
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PROJ00025
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Last modified
5/8/2015 9:36:27 AM
Creation date
10/5/2006 11:29:56 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150106
Contractor Name
Glenwood Irrigation Company c/o The Thompson Glen Irrigation Company
Contract Type
Loan
Water District
39
County
Garfield
Bill Number
SPL
Loan Projects - Doc Type
Contract Documents
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<br />8. CWCS May Release Contract. In its sole discretion, the CWCB may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the <br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms <br />and conditions as the CWCB may determine to be advisable to further the purposes of <br />this contract or to protect the CWCS's financial interest therein, and consistent with both <br />the statutory purposes of this Contract and the IimitaflOns of the statutory authority under <br />which it is made. <br /> <br />9. Casualty and Eminent Domain. If, at any time, during the term of this contract, (a} the <br />BORROWER'S PROJECT facilities, including buildings or any portion thereof, are damaged or <br />destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT <br />facilities or any part thereof shall be taken under the exercise of the power of eminent <br />domain, the BORROWER shall cause the net proceeds of any insurance claim or <br />condemnation award to be applied to the prompt replacement, repair and restoration of <br />the PROJECT facilities or any portion thereof, or to repayment of this loan. Any net <br />proceeds remaining after such work has been completed or this loan has been repaid, <br />shall be retained by the BORROWER. If the net insurance proceeds are insufficient to pay <br />the full cost of the replacement, repair and restoration, the BORROWER shall complete the <br />work and pay any cost in excess of the net proceeds. In the event BORROWER opts to <br />repay the loan, BORROWER shall remain responsible for the full loan amount outstanding <br />regardless of the amount of such insurance proceeds or condemnation award. <br /> <br />10. Captions. The captions and headings contained in this contract are for convenience and <br />reference only and shall not be construed so as to define or limit the terms or provisions <br />contracted herein. <br /> <br />11. CWCS's Approval. This contract requires review and approval of plans, specifications, <br />and various other technical and legal documents. The CWCS's review of these <br />documents is only for the purpose of verifying BORROWER'S compliance with this Contract <br />and shall not be construed or interpreted as a technical review or approval of the actual <br />design or construction of the PROJECT. Notwithstanding any consents or approvals given <br />to the BORROWER by the CWCS on any such documents, SORROWER shall be solely <br />responsible for the accuracy and completeness of such documents, <br /> <br />12. Waiver. The waiver of any breach of a term of this contract shall not be construed as a <br />waiver of any other term, or of any subsequent breach of the same term, <br /> <br />13.Addresses for mailing. All notices, correspondence, or other documents required by <br />this contract shall be delivered or mailed to the addresses shown in the Section 1 <br />(Borrower Information} of the Project Summary, for the BORROWER and to the address <br />below for the CWCB: <br /> <br />Colorado Water Conservation Soard <br />Altn: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />14.Additional Contract Requirements, Any additional contract requirements are shown in <br />Additional Contract Requirement (Section 10) of the Project Summary. <br /> <br /> <br />Page 7 of 9 <br /> <br />Loan Contract <br />
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