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<br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, 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 BORROWER <br />shall follow during the construction phase of the PROJECT. <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 specifications <br />must be submitted to the CWCB staff for verification of compliance with the tenms of this <br />contract prior to bid opening. Any modifications to the plans and specifications must be <br />approved in writing by the CWCB staff. <br /> <br />c. For plans and specifications for all jurisdictional dams and reservoirs, as defined by ~ 37-87- <br />105 C.R.S. (1990), the BORROWER shall provide a letter of approval from the State Engineer's <br />Office prior to construction. <br /> <br />d. CWCB staff must be present at bid opening and must approve the award of the construction <br />contract. <br /> <br />e. The BORROWER shall contract for the construction of the work with responsible and capable <br />firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be <br />selected by the BORROWER and found acceptable by the CWCB staff before work under this <br />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 bond, <br />perfonmance bond, payment bond, notice of award, notice to proceed, sample change order, <br />and sample field order. After the CWCEl staff verifies that these documents comply wiih the <br />tenms of this contract, the BORROWER may issue the notice to proceed to the CONSTRUCTION <br />FIRMS. <br /> <br />g. The BORROWER shall conduct a pre-construction conference at which time the CWCB staff <br />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 CWCB <br />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 constrlJction, the BORROWER shall provide as-built drawings <br />of the PROJECT to the CWCB staff, and, if required by ~ 37-87-105, C.R.S. (1990), the <br />BORROWER shall provide the same drawings to the State Engineer's Office for approval and <br />filing. <br /> <br />k. Upon completion of the PROJECT construction, the BORROWER shall arrange a final inspection <br />for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT. <br /> <br />The Hawkeye Lateral Ditch Company <br /> <br />Page 2 of 13 <br /> <br />Loan Contract <br />