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<br />/ <br /> <br />../-' <br /> <br />be paid to the 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 /> <br />8. Captions. That 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 /> <br />9. STATE'S approval. This contract requires review and approval of plans, specifications, and various other <br />technical and legal documents. The STATE'S review of these documents is only for the purpose of verifying <br />BORROWER'S compliance with this contract and ~hall not be construed or interpreted as a technical review or <br />approval of the actual design or construction of the PROJECT. Notwithstanding any consents or approvals given <br />the BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT preparing any such <br />documents shall be solely responsible for the accuracy and completeness of any of the construction documents. <br /> <br />10. Addresses for mailing. All notices, correspondence, or other documents required by this contract shall <br />be delivered or mailed to the following addresses: <br /> <br />For the STATE: <br /> <br />For the BORROWER: <br /> <br />Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />Attn: William P. Stanton <br /> <br />Parna Etchart. AGENT <br />69116 Highway 64 <br />Meeker, CO 81641 <br /> <br />D. Special provisions (1993 version) <br /> <br />1. Controller's approval. This contract shall not be deemed valid until it shall have been approved by the <br />Controller of the State of Colorado or such assistant as he may designate. This,provision is applicable to any <br />contract involving the payment of money by the STATE. <br /> <br />2. Fund availability. Financial obligations of the State of Colorado payable after the current fiscal year <br />are contingent upon funds for that purpose being appropriated. budgeted, and otherwise made available. <br /> <br />3. Bond requirement. If this contact involves the payment of more than fifty thousand dollars for the <br />construction, erection, repair, maintenance, or improvement of any building, road, bridge. viaduct, tunnel, <br />excavation or other public work for this STATE, the CONTRACTOR shall, before entering upon the performance <br />of any such work included in this contract, duly execute and deliver to the STATE official who will sign the <br />contdract, a good and sufficient bond or other acceptable surety to be approved by said official in a penal sum <br />not less than one-half of the total amount payable by the terms of this contract. Such bond shall be duly <br />executed by a qualified corporate surety conditioned upon the faithful performance of the contract and in <br />addition, shall provide that if the CONTRACTOR or his subcontractors fail to duly pay for any labor, materials, <br />team hire, sustenance. provisions, provendor or other supplies used or consumed by such CONTRACTOR or his <br />subcontractor in performance of the work contracted to be done or fails to pay any person who supplies rental <br />machinery, tools, or equipment in the prosecution of the work the surety will pay the same in an amount not <br />exceeding the sum specified in the bond, together with interest at the rate of eight per cent per annum. Unless <br />such bond is executed, delivered and filed, no claim in favor of the CONTRACTOR arising under such contract <br />shall be audited. allowed or paid. A certified or cashier's check or a bank money order payable to the Treasurer <br />of the State of Colorado may be accepted in lieu of a bond. This provision is in compliance with CRS 38-26- <br />106. <br /> <br />Caryl Carroll <br /> <br />Page 8 of 11 <br /> <br />Loan Contract <br />