Laserfiche WebLink
<br />. <br />{; , :-,~ <br /> <br />WHEREAS. the board of directors of Contractor. in <br />fUrtherance of the approval of its stockholders. has duly <br />ordered and resolved to proceed with the rehabilitation of said <br />Reservoirs by borrowing money and securing the same pursuant to <br />agreement with the State; and <br /> <br />WHEREAS. pursuant to section 1 (2) of chapter 32. session <br />Laws of Colorado 1987. as amended by Section 4 of Senate Bill <br />30, 1988 Session. the State has been authorized to loan Four <br />Hundred Fifty-Four Thousand Dollars ($454.000) for construct'ion <br />at the project. including the cost of the feasibility report. <br /> <br />NOW THEREFORE. in consideration of the mutual and <br />dependent covenants herein contained. it is agreed by the <br />parties hereto as follows: <br /> <br />A. The State and the Contractor have previously entered into a <br />termination contract. attached hereto as Exhibit A. and a <br />feasibility report contract. attached hereto as Exhibit B. <br />Exhibits A and B are incorporated by reference herein. The <br />Contractor's Articles of Incorporation and Corporate By-Laws <br />are also incorporated by reference herein. <br /> <br />B. The Contractor agrees that it shall: <br /> <br />1. Employ an engineering firm (hereinafter referred to as <br />the Consultant) to prepare project plans and specifications for <br />the project. Both the Consultant and the project plans and <br />specifications must be approved in writing by the State before <br />construction on the project can commence. For purposes of this <br />paragraph. "construction" includes any real estate and water <br />rights acquisitions. <br /> <br />2. Contract for the construction of said project to a <br />responsible and capable firm or firms (hereinafter referred to <br />as construction Firm or Firms). which Construction Firms shall <br />be selected by the Contractor through competitive pUblic <br />bidding. The State must approve in writing all contracts <br />before they can become effective. <br /> <br />3. Cause construction of the project to ~e completed <br />within three (3) years of the date of this contract. in <br />accordance with the project plans and specifications and any <br />necessary mOdification(s) thereof approved by the State. This <br />time may be extended by the State in writing if such time is <br />insufficient because of acts of God or other acts or <br />circumstances beyond the control of the Contrpctor. The <br />Contractor must produce documented justification of any such <br />acts or circumstances. <br /> <br />4. Require all Construction Firms and their subcontractors <br />to indemnify the State and the Contractor against all liability <br />and loss. and against all claims and actions pased upon or <br />arising out of damage or injury. including de~th. to persons or <br />property, caused by any acts or omissions of those parties or <br />sustained in connection with the performance of any contract <br />related to the project or by conditions created thereby. or <br />based upon any violation of any statute. ordinance. or <br />regUlation. and the defense of any such claims or actions. <br /> <br />5. Require all Construction Firms and their subcontrac- <br />tors to maintain during the term of their contracts for project <br />construction the following: <br /> <br />a. Workmen's compensation and employers' liability <br />insurance in the required statutory amounts. <br /> <br />b. Automobile liability insurance for all vehicles. <br />and comprehensive general liability insurance. both in <br />at least the fallowing amounts: <br /> <br />Page ~ of lQ Pages <br />