C150004 Contract

• Contract/PO #: C150004
• Contractor Name: Fort Morgan, City of & Fort Morgan Water Works and Distribution Enterprise
• Contract Type: Loan
• Water District: 1
• County: Morgan
• Bill Number: HB98-1189
• Loan Projects - Doc Type: Contract Documents

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14. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT
upon mutually agreeable terms and conditions, subject to the availability of funding for that
purpose.

Now THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:

A. The CITY and the BoRROWER agree as follows:

1. Time for PROJECT completion. The CITY/BoRROWER recognize that time is of the essence
in the performance of all of their obligations under this contract. Therefore, the
CITY/BoRROWER shall complete the PROJECT within two (2) years of the date of this contract.
The time for completion of the PROJECT may be extended subject to the approval of the
STATE. The CITY/BoRROWER must provide, in writing, documented justification for any
request for an extension within sixty (60) days prior to the end of the period for completion.

2, Indemnification By The CONSTRUCTION FIRM, The CITY/BoRROWER shall require all
CONSTRUCTION FIRMS and their subcontractors to indemnify the STATE and the
CITY/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,

3. Liability Insurance During Construction. The CITY/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:

a. Worker's compensation and employer's liability insurance in the required statutory
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 insurance 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 CITY, the BORROWER and the STATE as
additional insureds. 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. The CITY/BoRROWER shall file
notices of renewals of said policies with the STATE as renewals occur.

During the time of construction, the STATE reserves the right to increase the above amount
of insurance so that said amounts at a minimum correspond to the amou'nt established by
the Colorado Governmental Immunity Act, now and as hereafter amended.

City of Fort Morgan, Colorado &
City of Fort Morgan, Colorado, WaterWorks and Distribution Enterprise

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