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<br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms and <br />conditions as the STATE may determine to be advisable to further the purposes of this contract <br />or to protect the STATE'S financial interest therein, and consistent with both the statutory <br />purposes of this contract and the limitations of the statutory authority under which it is made. <br /> <br />8. Casualty And Eminent Domain. If, at any time, during the term of this contract, (a) the <br />BORROWER'S PROJECT facilities including buildings or any portion thereof, are damaged or <br />destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT <br />facilities or any part thereof shall be taken under the exercise of the power of eminent domain, <br />the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to <br />be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any <br />portion thereof, or to repayment of this loan. Any net proceeds remaining after such work has <br />been completed shall be retained by the BORROWER. If the net insurance proceeds are <br />insufficient to pay the full cost of the replacement, repair and restoration, the BORROWER shall <br />complete the work and pay any cost in exceSS of the net proceeds, In the event Borrower opts <br />to repay the loan, Borrower shall remain responsible for the full loan amount outstanding <br />regardless of the amount of such insurance proceeds or condemnation award. <br /> <br />9. Captions. The captions and headings contained in this contract are for convenience and <br />reference only and shall not be construed so as to define or limit the terms or provisions <br />contracted herein. <br /> <br />10. STATE'S Approval. This contract requires review and approval of plans, specifications, and <br />various other technical and legal documents, The STATE'S review of these documents is only <br />for the purpose of verifying BORROWER'S compliance with this contract and shall not be <br />construed or interpreted as a technical review or approval of the actual design or construction <br />of the PROJECT rehabilitation, Notwithstanding any consents or approvals given to the <br />BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT, by <br />preparing any such documents, shall be solely responsible for the accuracy and completeness <br />of any of said documents. <br /> <br />11. Waiver. The waiver of any breach of a term of this contract shall not be construed as a <br />waiver of any other term, or of any subsequent breach of the same term. <br /> <br />12. Addresses for mailing. All notices, correspondence, or other documents required by this <br />contract shall be delivered or mailed to the following addresses: <br /> <br />For the STATE: For the BORROWER: <br /> <br />Colorado Water Conservation Board Jackson Lake Reservoir and Irrigation <br />Alln: Construction Fund Section Company' <br />1313 Sherman Street, Room 721 P,O, Box 38 <br />Denver, CO 80203 Fort Morgan, CO 80701 <br /> <br />D. SPECIAL PROVISIONS (6/97 version). State Fiscal Rule 3-1 requires the inclusion of these <br />Special Provisions in every STATE contract, including grants, <br /> <br />Controller's Approval <br /> <br />1. This contract shall not be deemed valid until it shall have been approved by the Controller of <br />the State of Colorado or such assistant as he may designate. This provision is applicable to <br />any contract involving the payment of money by the STATE. <br /> <br />FUND AVAILABILITY <br /> <br />2. Financial obligations of the State of Colorado payable after the current fiscal year are <br /> <br />Jackson Lake Reservoir and Irrigation Co. Page 9 of 13 <br /> <br />Loan Contract <br />