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<br />is insufficient because of dcts of God or other acts or <br />cir(:IJrnstances beyond the CO!ltrol of the Borrower. <br /> <br />3. Require all Construction FI,rIDs and their SUb(:()JltraC!.I)rs <br />to indemnify the State and the Borrower against all liability <br />and loss. and against all claims and actions bar-ed upon or <br />arising out of damage or injury. including death. to persons or <br />propHrty calJsed by or sustalrlHd if I (:()nne(:I.ion with the <br />performance of any contract or by condi tions crl~ated th(HebY. <br />or based upon any violation of any statute. ordinance. or I <br />regulation. and the defense of any such claims or actions. <br /> <br />4. Require all Construction Firms and their SUb\:()Iltractors <br />to mai'ltain the following: <br /> <br />a. Workmen's compensation and employers' liability <br />insurance. <br /> <br />b. Automobile liability irlHurance for all vehicles. <br /> <br />c. Comprehensive general liability inSIJranCe 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 f.iled with the <br />Colorado Water Conservation Board. <br /> <br />5. Execute a first deed of trust. with the Board as <br />beneficiary tlloreof. which shall. Anl:umber the fallowing real <br />property as security for the loan: <br /> <br />300 acre-feet of the absolute portion of <br />reservoir water priority No. 1916-63A <br /> <br />The deed of trust will be recorded by the Borrower in <br />the proper county or counties and all recording fees shall be <br />paid by the Borrower. The retainage shall not be paid to the <br />Borrower until a deed of trlJut. han been executed. reGarded. and <br />filed with the COlorado Water Conservation Board. <br /> <br />6. Permit periodic inspe(:tion 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 mijirttenance. The Borrower agrees to <br />indemnify and hold the State harmless from any liability as a <br />result of the Statll'li illl.(lroHt in the project facilities and <br />any other property identified in paragraph A.S. above. The <br />Borrower shall maintain general liability insurance covering <br />the management. operation. and maintenance of the project until <br />it completes repayment to the State in at least the fOllowing <br />amounts: <br /> <br />Page 1 of 1 Pages <br />