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<br />, " <br /> <br />d. take any other appropriate action. <br /> <br />The CWCB shall provide written notice to the BORROWER of any such default and shall <br />give the BORROWER an opportunity to cure within thirty (30) days of receipt of such <br />notice. All remedies described herein may be simultaneously or selectively and <br />successively enforced. The CWCB may enforce the provisions of this contract at its <br />option without regard to prior waivers of previous defaults by the BORROWER, through <br />judicial proceedings to require specific performance of this contract, or by such other <br />proceedings in law or equity as may be deemed necessary by the CWCB to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The CWCB's exercise of any or all of the remedies described <br />herein shall not relieve the BORROWER of any of its duties and obligations under this <br />contract. <br /> <br />12. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liability to the <br />CWCB, manage, operate and maintain the PROJECT continuously in an efficient and <br />economical manner. <br /> <br />13. BORROWER'S Liability Insurance. <br /> <br />a. Upon execution of this contract and continuing until complete repayment of the loan <br />is made to the CWCB, the BORROWER shall maintain commercial general liability <br />insurance with a company that is satisfactory to the CWCB with minimum limits of <br />$1,000,000 combined single limit for each occurrence and $2,000,000 general <br />aggregate, including products/completed operations and personal injury. <br /> <br />b. Prior to the disbursement of any loan funds, the BORROWER shall provide the CWCB <br />with an Acord Form 27 evidencing said insurance and shall provide the CWCB with <br />documentation of renewals of said insurance. <br /> <br />c. If the BORROWER is a "public entity" within the meaning of the Colorado <br />Governmental Immunity Act, CRS 24-10-101, et sea., as amended ("Act"), the <br />BORROWER shall at all times maintain such liability insurance, by commercial policy <br />or self-insurance, as is necessary to meet its liabilities under the Act. Upon request <br />by the STATE, the BORROWER shall provide proof of such insurance. <br /> <br />14. Additional Contract Requirements. Any additional contract requirements are set <br />forth in Additional Contract Requirement (Section 6) of the Project Summary. <br /> <br />B. PROJECT PROVISIONS <br /> <br />1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br />BORROWER shall adhere to the CWCB Construction Fund Program Procedures (Section <br />7) of the Project Summary. <br /> <br />2. Eligible Expenses. Listed in Eligible Expenses (Section 8) of the Project Summary, <br />are the PROJECT expenses for which the BORROWER is eligible for loan disbursements. <br /> <br />3. Loan Disbursements. The CWCB shall disburse loan funds in accordance with the <br />Disbursement Schedule (Section 9) of the Project Summary. <br /> <br />Page 5 of 9 <br />