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<br />c, Automobile liability insurance that includes coverage for all owned, non-owned and
<br />hired vehicles with minimum limits of $1,000,000 combined single limit for bodily injury
<br />and property damage,
<br />
<br />d. Commercial general liability insurance with minimum limits of $1,000,000 combined
<br />single limit for each occurrence and $2,000,000 general aggregate, This insurance
<br />coverage shall include products/completed operations and bodily injury/property
<br />damage,
<br />
<br />A copy of a current certificate of said liability insurance must be provided to the CWCB
<br />prior to commencement of construction and maintained until construction is complete,
<br />No payments shall be made to the BORROWER unless all insurance certificates are
<br />current. The BORROWER shall file notices of renewals of said policies with the CWCB as
<br />renewals occur,
<br />
<br />C, GENERAL PROVISIONS
<br />
<br />1, Periodic Inspections. Throughout the term of this contract, the BORROWER shall permit
<br />a designated representative of the CWCB to make periodic inspections of the PROJECT,
<br />Said inspections shall cover the condition of the PROJECT, operating records,
<br />maintenance records, and financial records, These inspections are solely for the purpose
<br />of verifying compliance with the terms and conditions of this contract and shall not be
<br />construed nor interpreted as an approval of the actual design, construction or operation of
<br />any element of the PROJECT facilities,
<br />
<br />2, Adhere To Applicable Laws. The BORROWER shall strictly adhere to all applicable
<br />federal, state, and local laws and regulations that are in effect or may hereafter be
<br />established throughout the term of this contract,
<br />
<br />3, Designated Agent Of The CWCB. The CWCS's employees are hereby designated as
<br />the agents of the cwes for the purpose of this contract.
<br />
<br />4, Contract Is Not Assignable. The BORROWER may not assign this contract except with
<br />the prior written approval of the CWCS,
<br />
<br />-s: Contract Relationship. The parties to this contract intend that the relationship between
<br />them under 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,
<br />agent, or servant of the CWCB, The BORROWER shall be solely and entirely responsible
<br />for its acts and the acts of its agents, employees, servants, engineering firms,
<br />construction firms, and subcontractors during the term of this contract.
<br />
<br />6, Complete Integration Of All Understandings. This agreement is intended as the
<br />complete integration of all understandings between the parties, No prior or
<br />contemporaneous addition, deletion, or other amendment hereto shall have any force or
<br />effect whatsoever unless embodied herein in writing, No subsequent novation, renewal,
<br />addition, deletion, or other amendment hereto shall have any force or effect unless
<br />embodied in a written contract executed and approved pursuant to STATE fiscal rules,
<br />unless expressly provided for herein,
<br />
<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
<br />control.
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<br />Page 6 of 9
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<br />Upper Platte and Beaver Creek Canal Co.
<br />
<br />Loan Contract
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