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. ,1\. ~<<..;, v Ci " ~. construction of the project. including the cost of the feasibility report. Whereas the Contractor or Borrower understands that this Contract is also a promissory note for the repayment of funds loaned to the Borrower according to the terms set forth herein. NOW THEREFORE. in consideration of the mutual and dependent covenants herein contained. it is agreed by the parties hereto as follows: A. The State and the Contractor have previoUSly entered into a termination contract. attached hereto as Exhibit A. and a feasibility report contract. attached hereto as Exhibit B. Exhibits A and B are incorporated by reference herein. B. The Contractor agrees that it shall: 1. Employ an engineering firm (hereinafter "refeIred to as the Consultant) to prepare project plans and specifications for the project. Both the Consultant and the project plans and specifications must be approved in writing by the State before construction on the project can commence. For purposes of this paragraph. "construction" includes any real estate and water rights acquisitions. 2. Contract for the construction of said project to a responsible and capable firm or firms (hereinafter referred to as Construction Firm or Firms). which Construction Firms shall be selected by the Contractor through competitive pUblic bidding. The State must approve in writing all contracts before they can become effective. 3. Cause construction of the project to be completed within three (3) years of the date of this contract. in accordance with the project plans and specifications and any necessary modification(s) thereof approved by the State. This time may be extended by the State in writing if such time is insufficient because of acts of God or other acts or circumstances beyond the control of the Contractor. The Contractor must produce documented justification of any such acts or circumstances. 4. Require all Construction Firms and their subcontractors to indemnify the State and the Contractor 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. 5. Require all Construction Firms and their subcontrac- tors to maintain during the term of their contracts for project construction the following: a. Workmen1s compensation and employers' liability insurance in the required statutory amounts. b. Automobile liability insurance for all vehicles, and comprehensive general liability insurance. both in at least the following amounts: (1) For any injury to one person in any single occurrence, the sum of Five Hundred Thousand Dollars ($500.000). (2) For any injury to two or more persons in any single occurrence. the sum of One Million Dollars ($1.000.000). ~ge ~ of 10 Pages .