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<br />. <br /> <br />10, 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 />THEREFORE, in consideration of the mutual and dependent covenants contained herein, <br />the 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 <br />shall follow during the construction phase of the PROJECT. <br /> <br />a. The BORROWER shall employ an engineer, registered in the State of Colorado, hereinafter <br />referred to as the CONSULTANT, to prepare plans and specifications for the PROJECT, <br /> <br />b. The agreement between the BORROWER and the CONSULTANT and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance with the <br />terms of this contract prior to bid opening. Any modifications to the plans and specifications <br />must be approved in writing by the CWCB staff. <br /> <br />c, For plans and specifications for all jurisdictional dams and reservoirs, as defined by S 37-87- <br />105 C.R.S. (1999), the BORROWER shall provide a letter of approval from the State Engineer's <br />Office prior to construction. <br /> <br />d. CWCB staff must be present at bid opening and must approve the award of the construction <br />contract. <br /> <br />e, The BORROWER shall contract for the construction of the work with responsible and capable <br />firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be <br />selected by the BORROWER and found acceptable by the CWCB staff before work under this <br />contract begins. <br /> <br />f. The BORROWER must provide a copy of the executed construction contract documents <br />consisting of the advertisement for bid, contractor's proposal, construction contract, bid bond, <br />performance bond, payment bond, notice of award, notice to proceed, sample change order, <br />and sample field order. After the CWCB staff verifies that these documents comply with the <br />terms of this contract, the BORROWER may issue the notice to proceed to the CONSTRUCTION <br />FIRMS. <br /> <br />g, The BORROWER shall conduct a pre-construction conference at which time the CWCB staff <br />shall have the opportunity to review and approve the construction schedule, <br /> <br />h. If the CWCB staff determines that the PROJECT requires a resident inspector during <br />construction, the BORROWER shall employ an inspector who has been approved by the CWCB <br />staff, <br /> <br />i. The BORROWER shall construct the PROJECT in accordance with the approved plans and <br />specifications. <br /> <br />j. Upon completion of the PROJECT construction, the BORROWER shall provide as-built drawings <br />of the PROJECT to the CWCB staff, and, if required by S 37-87-105, C,R,S, (1999), the <br />BORROWER shall provide the same drawings to the State Engineer's Office for approval and <br />filing, <br /> <br />k, Upon completion of the PROJECT construction, the BORROWER shall arrange a final inspection <br />for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT, <br /> <br />Plumb and Dailey Ditch Company <br /> <br />Page 2 of 12 <br /> <br />Loan Contract <br />