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PROJC00763
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PROJC00763
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Last modified
11/19/2009 11:17:52 AM
Creation date
10/6/2006 12:13:17 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153747
Contractor Name
Consolidated Extension Canal Company
Contract Type
Loan
Water District
67
County
Bent
Bill Number
EIA
Loan Projects - Doc Type
Contract Documents
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<br />and add the amount of such expenditures to the principal of the loan amount; <br />c. apply the funds contained in the CD AccOUNT to repayment of the loan; <br />d. act upon the promissory note and security interest; <br />e. take any other appropriate action. <br /> <br />All remedies described herein may be simultaneously or selectively and successively enforced. The <br />provisions of this contract may be enforced by the STATE at its option without regard to prior waivers of <br />previous defaults by the BORROWER, through judicial proceedings to require specific performance of <br />this contract, or by such other proceedings in law or equity as may be deemed necessary by the <br />STATE to ensure compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The STATE'S exercise of any or all of the remedies described herein shall not <br />relieve the BORROWER of any of its duties and Obligations under this contract. <br /> <br />16. Progress reports. The BORROWER shall, with the assistance of the CONSULTANT, prepare a periodic <br />progress report which contains a statement of the PROJECT construction costs expended for that <br />period and shall forward said report to the STATE. <br /> <br />17. Periodic inspections. Throughout the term of this contract, the BORROWER shall permit a designated <br />representative of the STATE to make periodic inspections of the PROJECT. Such inspections are solely <br />for the purpose of verifying compliance with the terms and conditions of this contract. Furthermore, <br />such inspections shall cover the condition of the PROJECT, operating records, maintenance records, <br />and financial records, and shall not be construed nor interpreted as an approval of the actual design <br />and/or construction of any element of the PROJ'=CT facilities. <br /> <br />18. Adhere to applicable laws. The BORROWER shall strictly adhere to all applicable federal, state, and <br />local laws and regulations that are in effect or may hereafter be established throughout the term of this <br />contract. .. <br /> <br />19. No discrimination of services. The services of said PROJECT shall be made available within its <br />capacity and in accordance with all pertinMt statutes, rules and regulations, and operational <br />guidelines to all persons in the BORROWER'S service area without discrimination as to race, color, <br />religion, or national origin at reasonable charges (including assessments or fees), whether for one or <br />more classes of service, in accordance with a schedule of such charges formally adopted by the <br />BORROWER, as may be modified from time to time. <br /> <br />C. The STATE and the BORROWER mutually agree as follows: <br /> <br />1. Designated agent of the STATE. The CWCE3, which includes its agents and employees, is hereby <br />designated as the agent of the STATE for the purpose of this contract. <br /> <br />2. Contract is not assignable. This contract is not assignable by the BORROWER except with the prior <br />written approval of the STATE. <br /> <br />3. Contract relationship. The parties to this contract intend that the relationship between them <br />contemplated by this contract is that of lender-borrower, not employer-employee. No agent, <br />employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or <br />servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the acts <br />of its agents, employees, servants, engineeriflg firms, construction firms, and subcontractors during <br />the performance of this contract. <br />4. Integration of all understandings. This agreement is intended as the complete integration of all <br />understandings between the parties. No prior or contemporaneous addition, deletion, or other <br />amendment hereto shall have any force or effect whatsoever unless embodied herein in writing. No <br />subsequent novation, renewal, addition, deletion, or other amendment hereto shall have any force or <br /> <br />The Consolidated Extension Canal Company <br /> <br />Page 7 <)f 11 <br /> <br />Loan Contract <br />
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