Laserfiche WebLink
<br />" <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 />when required by the State, be selected through competitive <br />public bidding, said project to be completed within two (2) <br />years of the date of this contract in accordance with the <br />project plans and specifications and any necessary modification <br />thereot approved by the State. The State must approve, in <br />writing, all contracts before they can become effective. The. <br />above-specified time may be.extended by the State if such time <br />is insufficient because of acts of God or other acts or . <br />circumstances beyond the control of the Borrower. <br /> <br />3. Require all Construction Firms and their subcontrac- <br />tors to indemnify the State and the Borrower against all <br />liability and loss, and against all claims and actions based <br />upon or arising out of damage or injury, including death, to <br />persons or property caused by or sustained in connection with <br />the performance of any contract or by conditions created <br />thereby, or based upon any violation of any statute, ordinance, <br />or regulation, and the defense of any such claims or actions. <br /> <br />4. Require all Construction Firms and their subcontract- <br />ors to maintain the following: <br /> <br />a. Workmen's compensation and employers' liability <br />insurance. <br /> <br />b. Automobile liability insurance for all vehicles. <br /> <br />c. Comprehensive general liability insurance in at <br />least the following amounts: <br /> <br />(1) For any injury to one person in any single <br />occurrence, the sum of Five Hundred Thousand <br />Dollars ($500,000). <br /> <br />(2) For any injury to two or more persons in any <br />single occurrence, the sum of One Million Dollars <br />($1,000,000) . <br /> <br />Said liability insurance shall name the Borrower and <br />the State as co-insureds. No payments shall be made <br />under this contract unless a copy of a certificate of <br />said liability insurance has been filed with the <br />Colorado Water Conservation Board. <br /> <br />5. Execute a warranty deed which shall convey the <br />following real property to the Board as security for the loan: <br /> <br />The Northeast Quarter of the Southwest Quarter <br />(NE1/4 SW1/4) of Section 34, Township 37 North, <br />Range 14 West, NMPM, with all its <br />appurtenances, and warrant(s) the title to the <br />same subject to no exceptions. <br /> <br />The deed will be recorded by the Borrower in the <br />proper county or. counties and all recording fees shall be paid <br />by the Borrower. <br /> <br />6. Permit periodic inspection of construction by <br />authorized representatives of the State during and after <br />construction. <br /> <br />7. Without expense to the State, manage, operate, and <br />maintain the project continuously in an efficient and <br />economical manner, and assume all legal liability for such <br />management, operation, and maintenance. The Borrower agrees to <br />indemnify and hold the State harmless from any liability as a <br />result of the State's interest in the project facilities and <br /> <br />Page 2 of 8 Pages <br /> <br />F <br />