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<br />facilities or any portion thereof. Any net proceeds remaining after such work has been completed
<br />shall be paid to the BORROWER. If the net proceeds are insuffi.cient to pay the full cost of the
<br />replacement, repair and restoration, the BORROWER shall complete the work and pay any cost in
<br />excess of the net proceeds.
<br />
<br />9, 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 contracted
<br />herein.
<br />
<br />10. 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 for the
<br />purpose of verifying BORROWER'S compliance with this contract and shall not be construed or
<br />interpreted as a technical review or approval of the actual design or construction of the PROJECT
<br />rehabilitation, Notwithstanding any consents or approvals given the BORROWER by the STATE on any
<br />such documents, BORROWER and its CONSULTANT preparing any such documents shall be solely
<br />responsible for the accuracy and completeness of any of the construction documents,
<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:
<br />
<br />For the BORROWER:
<br />
<br />Colorado Water Conservation Board
<br />1313 Sherman Street, Room 721
<br />Denver, CO 80203
<br />Attn: William P. Stanton, Section Chief
<br />
<br />The Tremont Mutual Ditch Company
<br />P. O. Box 711
<br />Snyder, CO 80750
<br />Attn: Etson Lake, President
<br />
<br />0, Special provisions (1993 versionl
<br />
<br />1, Controller's approval. This contract shall not be deemed valid until it shall have been approved by the Controller of the State of
<br />Colorado or such assistant as he may designate, This provision is 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 year are contingent upon funds for
<br />that purpose being appropriated, budgeted, and otherwise made available,
<br />
<br />3, Bond requirement If this contract involves the payment of more than fifty thousand dollars for the construction, erection, repair,
<br />maintenance, or improvement of any building, road, bridge, viaduct tunnel, excavation or other public work for this STATE, the CONTRACTOR shall,
<br />before entering upon the performance of any such work included in this contract duly execute and deliver to the STATE official who will sign
<br />the contract a good and sufficient bond or other acceptable surety to be approved by said official in a penal sum not less than one.half of the
<br />total amount payable by the terms of this contract Such bond shall be duly executed by a qualified corporate surety conditioned upon the
<br />faithful performance of the contract and in addition, shall provide that if the CONTRACTOR or his subcontractors fail to duly pay for any labor,
<br />materials, team hire, sustenance, provisions, provendor or other supplies used or consumed by such CONTRACTOR or his subcontractor in
<br />performance of the work contracted to be done or fails to pay any person who supplies rental machinery, tools, or equipment in the prosecution
<br />of the work the surety will pay the same in an amount not exceeding the sum specified in the bond, together with interest at the rate of eight
<br />per cent per annum. Unless such bond is executed, delivered and filed, no claim in favor of the CONTRACTOR arising under such contract shall
<br />be audited, allowed or paid, A certified or cashier's check or a bank money order payable to the Treasurer of the State of Colorado may be
<br />accepted in lieu of a bond. This provision is in compliance with C,R,S, 38,26,106,
<br />
<br />4, Indemnification, To the extent authorized by law, the CONTRACTOR shall indemnify, save, and hold harmless the STATE, its employees
<br />and agents, against any and all claims, damages, liability and court awards including costs, expenses, and attorney fees incurred as a result of
<br />any act or omission by the CONTRACTOR, or its employees, agents, subcontractors, or assignees pursuant to the terms of this contract.
<br />
<br />5, Discrimination and affirmative action, The CONTRACTOR agrees to comply with the letter and spirit of the Colorado
<br />Antidiscrimination Act of 1957, as amended, and other applicable law respecting discrimination and unfair employment practices (C,R.S, 24.34,
<br />
<br />Tremont Mutual Ditch Company
<br />
<br />Page 8 of 10
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<br />Loan Contract
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