C150008 Contract - Laserfiche WebLink

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the BORROWER. If the net insurance 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. In the event Borrower opts to repay the loan, Borrower shall remain responsible for the full loan amount outstanding regardless of the amount of such insurance proceeds or condemnation award. 8. Captions. 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. 9. 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 rehabilitation. Notwithstanding any consents or approvals given to the BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT, by preparing any such documents, shall be solely responsible for the accuracy and completeness of any of said documents. 10. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of any other term, or of any subsequent breach of the same term. 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 Attn: Construction Fund Section 1313 Sherman Street, Room 721 Denver, CO 80203 Leroux Creek Water Users' Association Attn: Thomas M. Alvey, President 11653100 Road Hotchkiss, CO 81419 D. SPECIAL PROVISIONS (6/97 version). State Fiscal Rule 3-1 requires the inclusion of these Special Provisions in every STATE contract, including 9rants. Controller's Approval 1. 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. FUND AVAILABILITY 2. Financial obligations of the State of Colorado payable after the current fiscal year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available. BOND REQUIREMENT 3. If this contract involves the payment of more than fifty thousand dollars for the construction, erection, repair, maintenance, or improvement of any building, road, bridge. viaduct, tunnel, excavation or other public work for this STATE, the CONTRACTOR shall, before entering upon the performance of any such work included in this contract, duly execute and deliver to the STATE official who will sign the contract, a good and sufficient bond or other acceptable surety to be approved by said official in a penal sum not less than one-half of the total amount payable by the terms of this contract. Such bond shall be duly executed by a qualified corporate surety conditioned upon the faithful performance of the contract and in addition. shall provide that if the CONTRACTOR or his subcontractors fail to duly pay for any labor, materials, team hire, sustenance, provisions, provendor or other supplies used or consumed by such CONTRACTOR or his subcontractor in performance of the work contracted to be done or fails to pay any person who supplies rental machinery, tools, or equipment Leroux Creek Water Users' Association Page 10 of 13 Loan Contract