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<br />I--'~, <br />~.\ . ) <br />c' <br /> <br />~-;":, <br />'7 <br /> <br />Small Project Loan Account to the BORROWER in an amount not to exceed $100,000 at an <br />interest rate of 4,25% per annum for a term Of thirty years, <br /> <br />10, The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT <br />upon mutually agreeable terms and conditions, ' <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained, <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 <br />BORROWER shall follow during the construction phase of the PROJECT rehabilitation, <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 <br />specifications 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- <br />87-105 C.RS, (1990), the BORROWER shall provide a letter of approval from the State <br />Engineer's Office prior to construction, <br /> <br />d. CWCB staff must be present at bid opening and must approve the award of the <br />construction contract <br /> <br />e, The BORROWER shall contract for the construction of the work with responsible and <br />capable firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION <br />FIRMS shall be selected by the BORROWER and found acceptable by the CWCB staff <br />before work under this 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 <br />bond, notice of award, notice to proceed, sample change order, and sample field order. <br />After the CWCB staff verifies that these documents comply with the terms of this contract, <br />the BORROWER may issue the notice to proceed to the CONSTRUCTION FIRMS, <br /> <br />g, The BORROWER shall conduct a pre-construction conference at which time the CWCB <br />staff 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 <br />CWCB 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 <br /> <br />The Decker Lateral Company <br /> <br />Page 2 of 14 <br /> <br />Loan Contract <br />