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<br />. <br /> <br />. <br /> <br />and economical manner. The BORROWER agrees to indemnify and hold the STATE harmless <br />from any liability incurred by the STATE as a result of the STATE'S interest in the PROJECT <br />facilities and any other property identified in the Schedule of Existing Debt (Section 2) of the <br />Project Summary. <br /> <br />13. BORROWER'S Liability Insurance. Upon execution of this contfact and continuing until <br />complete repayment of the loan is made to the STATE, the BORROWER shall maintain <br />commercial general liability insurance with a company that is satisfactory to the STATE <br />covering the management, operation, and maintenance of the PROJECT with minimum limits of <br />$1,000,000 combined single limit for each occurrence and $2,000,000 general aggregate, <br />including products/completed operations and personal injury, <br /> <br />Said general liability insurance shall name the STATE as additional insured. The BORROWER <br />shall provide the STATE with a certificate of said insurance and an additional insufed <br />endorsement, and shall provide the STATE with documentation of renewals of said insurance. <br />The STATE will not disburse any loan funds without evidence of said insurance coverage. <br />Throughout the life of this contract, the STATE reserves the right to increase the above amount <br />of insurance so that said amounts at a minimum correspond to the amount established by the <br />Colorado Governmental Immunity Act, now and as hereafter amended. <br /> <br />B. CONSTRUCTION PROVISIONS <br /> <br />1. Construction Fund Program Procedures. During the completion of the PROJECT, the <br />BORROWER shall adhere to the following: <br /> <br />a. The BORROWER shall employ an engineer, registered in the state of Colorado to prepare <br />plans and specifications for the PROJECT. <br /> <br />b. The BORROWER'S and the Engineering Consultant's Agreements and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance with the <br />terms of this contract when available prior to bidding. Any modifications to the plans and <br />specifications must be approved in writing by the CWCB staff. <br /> <br />c. For plans and specifications for all jurisdictional dams and reservoirs, as defined by S 37- <br />87-105 C.R,S" the BORROWER shall provide a letter of approval from the State Engineer's <br />Office prior to construction. <br /> <br />d. eWCB staff must be present at bidding and must approve the award of the construction <br />contract. <br /> <br />e, The BORROWER shall contract for the construction of the work with responsible and <br />capable Construction Firms, which said Construction Firms shall be selected by the <br />BORROWER and found acceptable by the CWCB staff. <br /> <br />f. The BORROWER must provide a copy of the executed construction contract documents <br />consisting of the contractor's proposal, construction contract, performance bond, payment <br />bond, notice of award, notice to proceed, sample change order, and sample field order, as <br />well as the advertisement for bid and bid bond at bidding. After the CWeB staff verifies <br />that these documents comply with the terms of this contract, the BORROWER may issue the <br />notice to proceed to the Construction Firms. <br /> <br />g. The BORROWER shall conduct a pre-construction conference at which time the CWCB staff <br />shall have the opportunity to review and approve the construction schedule. <br /> <br />h. If the CWCB staff determines that the PROJECT requires a resident inspector during <br /> <br />Page 5 of 11 <br />