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C153770 Contract
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C153770 Contract
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Last modified
4/18/2011 2:34:23 PM
Creation date
10/6/2006 12:04:42 AM
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Loan Projects
Contract/PO #
C153770
Contractor Name
Summit Reservoir and Irrigation Company
Contract Type
Loan
Water District
32
County
Montezuma
Bill Number
SB 97-008
Loan Projects - Doc Type
Contract Documents
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d. Complying with ail federai, state, and local regulatory requirements, including the obtaining of all <br />required permits. <br />e. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations. <br />f. Actual construction as called for in the design documents and in change orders approved by the <br />STATE, thB BORROWER, the CONSULTANT 8tld th2 CONSTRUCTION FIRM. <br />g. Engineering services for construction management, including design and construction <br />management for STa,TE-approved change orders. <br />h. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing <br />construction contract documents, and for complying with all federal, state, and local regulatory <br />requirements. Legal services must be approved by the STa,TE in writing and in advance to be <br />eligible for financing by the SrATE. <br />6. S7A7E May Release Contract. In its sole discretion, the STaTE may at any time give any consent. <br />deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER' <br />obligations under this contract, with valuable consideration, upon such terms and conditions as the <br />STATE may determine to be advisable to further the purposes of this contract or to protect the SrATE'S <br />financial interest therein, and consistent with both the statutory purposes of this contract and the <br />limitations of the statutory authority under which it is made. <br />7. Casuaity And Eminent Domain. If, at any time, during the term of this contract, (a) the BoRROwER'S <br />PRO,IECT facilities and/or property pledged as collateral for this loan, inGuding buildings or any portion <br />thereof, are damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of <br />the PRO�ECT faciiities 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 condemnation award <br />to be appiied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion <br />thereof. Any net proceeds remaining after 5uch work has been completed shall be paid to the <br />BoRROweR. If the net proceeds are insufficient to pay the full cost of the replacement, repair and <br />restoration, the BoRROwER shall complete the work and pay any cost in excess of the net proceeds. <br />8. Captions. The captions and headings contained in this contract are for convenience and reference <br />only and shall not be construed so as to define or limit the terms or provisions contracted herein. <br />9. STATE Approvai. This contract requires review and approval of plans, specifications, and various <br />other technical and legal documents. The STArE'S review of these documents is only for the purpose <br />of verifying BoRROweR's compliance with this contract and shali not be construed or interpreted as a <br />technicai review or approval of the actual design or construction of the PRO.tECT rehabilitation. <br />Notwithsta�ding any consents or approvals given to the BORROWER by ih2 STATE on any such <br />documents BORROWER and its CONSUITANT by preparing any such documents, shall be solely <br />responsible for the accuracy and completeness of any of said documents. <br />10. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of any <br />other term, or of any subsequent breach of the same term. <br />11. Addresses for mailing. All notices, correspondence, or other documents required by this contract <br />shall be delivered or mailed to the following addresses: � <br />For the STaTE: <br />Colorado Water Conservation Board <br />Attn: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />Summit Reservoir & Ivrigation Company Page 8 of 11 <br />For the BORROWER: <br />Summit Reservoir and Irrigation Company <br />P.O. Box 127 <br />Dolores, CO 81323 <br />Loan Contract <br />
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