PROJC00337 - Laserfiche WebLink

Home Browse Search

7, Casualty and eminent domain. If, at any time, during lhe term of this contract, (a) the BORROWER'S PROJECT facilities which are pledged as collateral for this loan, including buildings, or any portion thereof; are damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT facilities or any part thereof shall be taken under the exercise of the power of eminent domain, the STATE and the' BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion thereof. Any net proceeds remaining after such work has been completed shall be paid to the BORROWER. If the net proceeds are insufficient to pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the work and pay any cost in excess of the net proceeds (provided, however, that the BORROWER shall be obligated to pay any such cost in excess of net proceeds only to the extent of any moneys available therefor in any funds created under this contractl. B. Services of PROJECT available without discrimination, The BORROWER shall make the services of said PROJECT available within its capacity to all qualified persons in the BORROWER'S service area without discrimination as to race, color, religion, or natural origin at reasonable charges (including assessments, taxes, or fees), whether for one or more classes of service, in accordance with a schedule of such charges formally adopted by the BORROWER through its by-laws, as may be modified from time to time. The initial rate schedule must be approved in writing by the STATE before any such charges are initially assessed, Thereafter, the BORROWER may, subject to the approval of the STATE, make such modifications to the rate schedule as lhe BORROWER deems necessary to efficiently and economically provide for the financial requirements of the system, including .repayment of the loan to the STATE, as long as the rate schedule remains reasonabie and nondiscriminatory. 9. Captions. That the captions and headings contained in this contract are for convenience and reference only and shall not be construed so as to define or limit the terms or provisions contracted herein. 10. STATE'S approval. This contract requires review and approval of plans, specifications, and various other technical and legal documents. The STATE'S review of these documents is only for the purpose of verifying BORROWER'S compliance with this contract and shall not be construed or interpreted as a technical review or approval of the actual design or construction of the PROJECT, Notwithstanding any consents or approvals given the BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT preparing any such documents shall be solely responsible for the accuracy and completeness of any of the construction documents. 11. Addresses for mailing. All notices, correspondence, or other documents required by this contract shall be delivered or mailed to the following addresses: For the STATE: For the BORROWER: Colorado Water Conservation Board 1313 Sherman Street, Room 721 Denver, CO 80203 Attn: William P. Stanton Town of Monument 166 Second Street, P. O. Box 325 Monument, CO 80132 Attn: Dwight Whitney, Town ManagerlPlanner D. Special provisions (1993 version) 1. Controller's approval. This contract shall not be deemed valid until it shall have been approved by the Controller of the State of Colorado or such assistant as he may designate. This provision is applicable to any contract involving the payment of money by the STATE. 2. Fund availability. Financial obligations of the State of Colorado payable after the current fiscal year are contingent upo'n funds for that purpose being appropriated, budgeted, and otherwise made available. TOWN OF MONUMENT Page 8 of 11 LOAN CONTRACT