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<br />7. In Event Of A Conflict. In the event of conflict between the terms of this contract and <br />conditions as set forth in any of the appendices, the provisions of this contract shall control. <br /> <br />8. CWCS May Release Contract. In its sole discretion, the CWCB may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the <br />. BORROWER'S obligations under this contract, with valuable consideration, upon such terms and <br />conditions as the CWCB may determine to be advisable to further the purposes of this <br />contract or to protect the CWCB's financial interest therein, and consistent with both the <br />statutory purposes of this Contract and the limitations of the statutory authority under which it <br />is made. <br /> <br />9. 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 or this loan has been repaid, shall be retained by the BORROWER. If the net <br />insurance 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 <br />proceeds. In the event BORROWER opts to repay the loan, BORROWER shall remain <br />responsible for the full loan amount outstanding regardless of the amount of such insurance <br />proceeds or condemnation award. <br /> <br />10. 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 Jhe terms or provisions <br />contracted herein. <br /> <br />11. CWCS's Approval. This contract requires review and approval of plans, specifications, and <br />various other technical and legal documents. The CWCB'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. Notwithstanding any consents or approvals given to the BORROWER by the <br />CWCB on any such documents, BORROWER shall be solely responsible for the accuracy and <br />completeness of such documents. <br /> <br />12, 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 />13.Addresses for mailing. All notices, correspondence, or other documents required by this <br />contract shall be delivered or mailed to the addresses shown in the Section 1 (Borrower <br />Information) of the Project Summary, for the BORROWER and to the address below for the <br />eWeB: <br /> <br />Colorado Water Conservation Board <br />Altn: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />Page 6 of 8 <br /> <br />Loan Contract <br />