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<br />c,.n <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 9 37- <br />87-105 C.R.S. (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, performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order. After the CWCB staff verifies that these <br />documents comply with the terms of this contract, the BORROWER may issue the notice to <br />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 />drawings of the PROJECT to the CWCB staff, and, if required by 9 37-87-105, C.R.S. <br />(1990), the BORROWER shall provide the same drawings to the State Engineer's Office for <br />approval and filing. <br /> <br />The Weldon Valley Oitch Company <br /> <br />Page 2 of 14 <br /> <br />Loan Contract <br />