|
<br />.
<br />
<br />.
<br />
<br />under this contract is that of lender-borrower, not employer-employee, No agent, employee, or
<br />servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or servant
<br />of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the acts
<br />of its agents, employees, servants, engineering firms, construction firms, and subcontractofs
<br />dUfing the term of this contract.
<br />
<br />6. Complete Integration Of All Understandings. This agreement is intended as the complete
<br />integration of all understandings between the parties. No prior or contemporaneous addition,
<br />deletion, or other amendment hereto shall have any force or effect whatsoever unless
<br />embodied herein in writing. No subsequent novation, renewal, addition, deletion, or other
<br />amendment hereto shall have any force or effect unless embodied in a written contract
<br />executed and approved pursuant to STATE fiscal rules, 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 control.
<br />
<br />8. STATE May Release Contract. In its sole discretion, the STATE may at any time give any
<br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the
<br />BORROWER'S obligations under this contract. with valuable consideration, upon such terms and
<br />conditions as the STATE may detefmine to be advisable to furthef the purposes of this contract
<br />or to protect the STATE'S financial interest therein, and consistent with both the statutory
<br />purposes of this Contract and the limitations of the statutory authority undef which it is made.
<br />
<br />9, Casualty and Eminent Domain. If, at any time, during the term of this contract, (a) the
<br />BORROWER'S PROJECT facilities including buildings or any portion thereof, are damaged or
<br />destroyed, in whole or in part, by fire or other casualty, or (b) tille to or use of the PROJECT
<br />facilities or any part thereof shall be taken under the exercise of the power of eminent domain,
<br />the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to
<br />be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any
<br />portion thereof, or to repayment of this loan. Any net proceeds remaining after such work has
<br />been completed shall be retained by the BORROWER. If the net insurance proceeds are
<br />insufficient to pay the full cost of the replacement, repair and restoration, the BORROWER shall
<br />complete the work and pay any cost in excess of the net proceeds. In the event Borfower opts
<br />to repay the loan, Borrower shall remain responsible for the full loan amount outstanding
<br />regardless of the amount of such insurance proceeds or condemnation award.
<br />
<br />10. 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 Of limit the terms or provisions
<br />contracted herein,
<br />
<br />11, 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 vefifying 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 />12, Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver
<br />of any other term, or of any subsequent breach of the same term.
<br />
<br />Page 8 of 11
<br />
|