Laserfiche WebLink
<br />.--'-...~ _.~-' .,.. . <br /> <br />.--, ..' <br /> <br />,. ...' ~ <br /> <br />._""'\ <br />: . ') <br /> <br />'-"') <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 S 37-87-105, C.R.S. (1997), <br />the BORROWER shall provide the same drawings to the State Engineer's Office for approval <br />and filing. <br /> <br />k. Upon completion of the PROJECT construction, the BORROWER shall arrange a final <br />inspection for the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT. <br /> <br />2. Time For PROJECT Completion. The BOF<ROWER recognizes that time is of the essence in the <br />performance of all of its obligations under this contract: Therefore, the BORROWER shall <br />complete the PROJECT within two (2) years from the date of this contract. The time for <br />completion pf 'the PROJECT may be extElnded subject to the approval. of the .STATE. The <br />. BORROWER must provide, in writing, docurrlented justification for any request for extension sixty <br />(60) days prior to the end of the period for completion. . <br /> <br />3. Indemnification By The CONSTRUCTION I"IRM. The BORROWER shall require all CONSTRUCTION <br />.FIRMS and their subcontractors to indemnify the STATE and the BORROWER against all liability <br />and loss, and against all claims arid actions based upon or arising .out of damage or injury, <br />including death, to persons or property, caused by any acts or omissions of those parties or <br />sustained in connection with the performance of any contract related to the PROJECT or by <br />conditions created thereby, or based upon any violation of any statute, ordinance, or regulation, <br />and the defense of any such claims or actions. <br /> <br />4. Liability Insurance During Construction. The BORROWER shall require the CONSTRUCTION <br />FIRM and its subcontractors to maintain, during the term of their contracts for construction of the <br />PROJECT, the following insurance with a cornpany that is satisfactory to the STATE: <br /> <br />a. Worker's compensation and employer'~ liability insurance in the required statutory amounts. <br /> <br />b. Automobile liability insurance which inCludes coverage for all owned, non-owned and hired <br />vehicles with minimum limits of $1,000,000 combined single limit for bodily injury and <br />property damage. <br /> <br />c. Commercial general liability insurance with minimum limits of $1,000,000 combined single <br />limit for each occurrence and $2,000,000 general aggregate. This insurance coverage shall <br />include products/completed operations and personal injury. <br /> <br />d. Builder's risk insurance for constructior1 in progress for all perils of loss including fire, wind, <br />hail, vandalism, and flood in an amount equal to the completed value of the PROJECT. <br /> <br />Said general liability insurance shall name the BORROWER and the STATE as additional insured. <br />An additional insured endorsement and a current copy of a certificate of said liability insurance <br />must be provided to the STATE prior to commencement of construction and maintained until <br /> <br />Left Hand Ditch Company <br /> <br />page 3 of 13 <br /> <br />Loan Contract <br />