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<br />I. Pursuant to 1995 Colo. Sess. Laws, Chapter 117, Section 1, the Colorado General Assembly <br />authorized the CWCB to loan to the DISTRICT/BoRROWER One Million Dollars ($1,000,0001 for a term of thirty <br />(30) years for financing PROJECT costs. <br /> <br />J. At the DISTRICT'S annual meeting held on January 25, 1996, this contract was approved by a <br />majority of the landowners and electors of the DISTRICT voting on the contrilcL <br /> <br />K. The DISTRICT has been approved by the UniteO States Farm Services Agency (formerly the ASCS), <br />hereinafter referred to as the FSA, for a $400,000 grant for the PROJECT, which the DISTRICT shall receive upon <br />completion of the PROJECT. <br /> <br />L. The STATE nOw desires, by this contract, to loan money to the BORROWER for this PROJECT upon <br />mutually agreeable terms and conditions. <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained herein, the <br />parties agree as follows: <br /> <br />A. The' BORROWER agrees as follows: <br /> <br />1. Construction Fund Program procedures. The following items are procedures the BORROWER shall <br />follow during the construction phase of the PROJECT rehabilitation. <br /> <br />a. The U.S. Natural Resources Conservation Ser"ice, hereinafter referred to as the CONSULTANT, has <br />prepared plans and specifications for the PROJECT. <br /> <br />b. The agreement between the BORROWER and the CONSULTANT and the plans and specifications must <br />be submined to the CWCB staff for verification 01 compliance with the terms of this contract prior to <br />bid opening. Any modifications to the plans and specifications must be approved in writing by the <br />CWCB staff. <br /> <br />c. CWCB staff must be present at bid opening and must approve the award of the construction <br />contract. <br /> <br />d. The BORROWER shall contract for the construction of the work with responsible and capable firms, <br />hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be selected by the <br />BORROWER and found acceptable by the CWCB stilff before work under this contract begins. <br /> <br />e. The BORROWER must provide copies of executeO construction contract documents consisting of the <br />advertisement for bid, contractor's proposal, construction contract, bid bond, performance bond, <br />payment bond, notice of award, notice to proceed, sample change order, and sample field order. After <br />CWCB staff verifies that these documents comply with the terms of this contract, BORROWER may issue <br />the notice to proceed to the CONSTRUCTION FIRMS. <br /> <br />f. The BORROWER shall conduct a pre.construction conference at which time the CWCB staff shall have <br />the opportunity to review and approve the construction schedule. <br /> <br />g. If the CWCB staff determines that the PROJECT requires a resident inspector during construction, <br />the BORROWER shall employ an inspector who has been approved by the CWCB staff. <br /> <br />h. The BORROWER shall construct the PROJECT in accordance with the approved plans and <br />specifications. <br /> <br />i. Upon completion of the PROJECT construction, the BORROWER shall provide as.built drawings of the <br />PROJECT to the CWCB staff. <br /> <br />Orchard Mesa Irrigation District & <br />Mutual Mesil lateral Enterprise <br /> <br />Page 2 of 12 <br /> <br />loan Contract <br />