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<br />. <br /> <br />. <br /> <br />conditions as set forth in any of the appendices, the provisions of this contract shall <br />control. <br /> <br />8. CWCS May Release Contract. In its sole discretion, the eWCB 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 CWCB's financial interest therein, and consistent with both <br />the statutory purposes of this Contract and the limitations 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. cwes's Approval. This contract requires review and approval of plans, specifications, <br />and various other technical and legal documents. The CWCB'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, BORROWER 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 />ColoraClo Water Conservation Board <br />Altn: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />Tunnel Water Company <br /> <br />Page 8 of 11 <br /> <br />Loan Contract <br />