Laserfiche WebLink
<br />'.-." <br /> <br />9, The Golden Canal and Reservoir Company ("Golden") is a wholly owned subsidiary of the <br />BORROWER. Golden owns and operates the Welch Ditch as a carrier ditch and sells water <br />carried primarily through the Welch Ditch ("Welch Ditch water") on a contractual basis to its <br />customers, including members of the Welch Ditch Water Users Association, pursuant to <br />Article 10 of Golden's bylaws, which are incOrporated herein by this reference. As part of the <br />collateral for this loan, the BORROWER has agreed to procure the conveyance of a security <br />interest to the STATE in the proceeds of the sale of Welch Ditch water from Golden. <br /> <br />10, The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT <br />upon mutually agreeable terms and conditions. <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br /> <br />A. The BORROWER agrees as follows: <br /> <br />1. Construction Fund Program Procedures. The following items are procedures the <br />BORROWER shall follow during the construction phase of the PROJECT rehabilitation. <br /> <br />a. The BORROWER shall employ an enginet!r, registered in the State of Colorado, hereinafter <br />referred to as the CONSULTANT, to prepar'e plans and specifications for the PROJECT. <br /> <br />b, The agreement between the BORROvVER and the CONSULTANT and the plans and <br />specifications must be submitted to the C,WCB staff for verification of compliance with the <br />terms of this contract prior to bid opening. 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 9 37- <br />87-105 C.R.S.(1997), the BORROWER phall provide a letter of approval from the State <br />Engineer's Office prior to construction. <br /> <br />d. CWCB staff must be present at bid opening and must approve the award of the <br />construction contract <br /> <br />e. The BORROWER shall contract for the construction of the work with responsible and <br />capable firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION <br />FIRMS shall be selected by the BORROWER and found acceptable by the CWCB staff <br />before work under this contract begins. <br /> <br />f. The BORROWER must provide a copy of the exe~uted construction contract documents <br />consisting of the advertisement for bid, contractor's proposal, construction contract, bid <br />bond, performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order, After the CWCB staff verifies that these <br />documents comply with the terms of this contract, the BORROWER may issue the notice to <br />proceed to the CONSTRUCTION FIRMS, <br /> <br />g, The BORROWER shall conduct a pre-construction conference at which time the CWCB <br />staff 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 />The Agricultural Ditch and Reservoir Company <br /> <br />Page 2 of 14 <br /> <br />Loan Contract <br />