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<br />h. Engineering services for construction management, including design and construction management
<br />for STATE-approved change orders.
<br />
<br />i. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing
<br />construction contract documents, acquiring the land and water rights needed for the PROJECT, and for
<br />complying with all federal, state, and local regulatory requirements. Legal services must be approved
<br />by the STATE in writing before they are rendered to be eligible for payment by the STATE.
<br />
<br />6. STATE may release contract at its option. 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 BORROWER'S or
<br />OBLIGOR'S obligations under this contract with valuable consideration, upon such terms and conditions as the
<br />STATE may determine to be:
<br />
<br />a, advisable to further the purposes of this contract or to protect the STATE'S financial interest therein, and
<br />
<br />b, consistent with both the statutory purposes of this contract and the limitations of the statutory authority
<br />under which it is made.
<br />
<br />7. Casualty and eminent domain. If, at any time, during the term of this contract, (a) the PROJECT facilities
<br />and/or the collateral for this loan, including buildings or any portion thereof, are damaged or destroyed, in whole
<br />or in part, by fire or other casualty, or (b) title to or use of the PROJECT facilities or any part thereof and/or the
<br />collateral shall be taken under the exercise of the power t'l ~~inant domain, the OBLIGORS shall cause the net
<br />proceeds of any insurance claim or condemnation award to 15e' ~pplied to the prompt replacement, repair and
<br />restoration of the PROJECT facilities or any portion thereof ,ane/or the collateral. If the net proceeds are
<br />insufficient to pay the full cost of the replacement, repair and '"isTaration, the OBLIGOR shall complete the work
<br />and pay any cost in excess of the net proceeds.
<br />
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<br />
<br />8, Captions. That the captions and headings containei:l ,in tIJ(s contract are for convenience and reference
<br />only and shall not be construed so as to define or limit the ,tem1'3 or provisions contracted herein.
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<br />g. STATE'S approval. This contract requires review and'ajliJrQval of plans, specifications, and various other
<br />technical and legal documents. The STATE'S review of thesc'doeuments Is only for the purpose of verifying
<br />compliance with this contract and shall not be construed or .ir.terDreted as a technical review or approval of the
<br />actual design or construction of the PROJECT. Notwithstanding !iny consents or approvals given by the STATE
<br />on any such documents, BORROWER and the OBLIGORS s..~all b@) solely responsible for the accuracy and
<br />completeness of any of the construction documents. ' , , '
<br />
<br />10. Addresses for mailing. All notices, correspondence, or other documents required by this contract shall
<br />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 />Ann: William P. Stanton
<br />
<br />Hay-Bretherton Ditch Company
<br />c/o Billy S. Howard & Brenda G. Howard
<br />P. O. Box HH
<br />Meeker, CO 81641
<br />
<br />D. Special provisions (1993 version)
<br />
<br />1. Controller's approval. This contract shall not be deemed valid until it shall have been approved by the Controller
<br />of the state of. Colorado or such assistant as he may deSignate. This provision Is applicable to any contract inVOlving the
<br />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
<br />contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available.
<br />
<br />HAY.BRETHERTON DITCH COMPANY
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<br />Page 6 of 8
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<br />LOAN CONTRACT
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