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<br />the net proceeds are insufficient to pay the full cost of the replacement, repair and <br />restoration, the BORROWER shall complete the work and pay any cost in excess of the net <br />proceeds. <br /> <br />8. Captions. The captions and headings contained in this contract are for convenience and <br />reference only and shall not be construed so as to define or limit the terms or provisions <br />contracted herein. <br /> <br />9. STATE'S Approval. This contract requires review and approval of plans, specifications, and <br />various other technical and legal documents. The STATE'S review of these documents is only <br />for the purpose of verifying BORROWER'S compliance with this contract and shall not be <br />construed or interpreted as a technical review or approval of the actual design or construction <br />of the PROJECT. Notwithstanding any consents or approvals given to the BORROWER by the <br />STATE on any such documents, BORROWER and its CONSULTANT, by preparing any such <br />documents, shall be solely responsible for the accuracy and completeness of any of said <br />documents. <br /> <br />10. Waiver. The waiver of any breach of a term of this contract shall not be construed as a <br />waiver of any other term, or of any subsequent breach of the same term. <br /> <br />11..Addresses for mailing. All notices, correspondence, or other documents required by this <br />contract shall be delivered or mailed to the following addresses: <br /> <br />For the STATE: For the BORROWER: <br /> <br />Colorado Water Conservation Board <br />Attn.: Construction Fund Section <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br /> <br />The Durkee Ditch Company, Inc. <br />Box 41 <br />Eckert, CO 81418 <br /> <br />D. Special provisions (1997 version) <br /> <br />1. Controller's Approval. This contract shall not be deemed valid until it shall have been approved <br />by the Controller of the State of Colorado or such assistant as he may designate. This provision is <br />applicable to any contract involving the payment of money by the STATE. <br /> <br />2. Fund Availability. Financial obligations of the State of Colorado payable after the current fiscal <br />year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made <br />available. <br /> <br />3. Bond Requirement. If this contract involves the payment of more than fifty thousand dollars for <br />the construction, erection, repair, maintenance, or improvement of any building, road, bridge, <br />viaduct, tunnel, excavation or other public work for this STATE, the CONTRACTOR shall, before <br />entering upon the performance of any such work included in this contract, duly execute and deliver <br />to the STATE official who will sign the contract, a good and sufficient bond or other acceptable <br />surety to be approved by said official in a penal sum not less than one-half of the total amount <br />payable by the terms of this contract. Such bond shall be duly executed by a qualified corporate <br />surety conditioned upon the faithful performance of the contract and in addition, shall provide that if <br />the CONTRACTOR or his subcontractors fail to duly pay for any labor, materials, team hire, <br />sustenance, provisions, provendor or other supplies used or consumed by such CONTRACTOR or his <br />subcontractor in performance of the work contracted to be done or fails to pay any person who <br /> <br />The Durkee Ditch Company, Inc. <br /> <br />Page 10 of 13 <br /> <br />Loan Contract <br />