PROJC01305 - Laserfiche WebLink

Home Browse Search

" "1 g. Engineering services for construction management, including design and construction management for STATE-approved change orders. h. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing construction contract documents, and for complying with all federal, state, and local regulatory requirements. 6. STATE May Release Contract. In its sole discretion, the STATE may at any time give any consent, deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER'S obligations under this contract, with valuable consideration, upon such terms and conditions as the STATE may determine to be advisable to further the purposes of this contract or to protect the STATE'S financial interest therein, and consistent with both the statutory purposes of this contract and the limitations of the statutory authority under which it is made. 7. Casualty And Eminent Domain. If, at any time, during the term of this contract, (a) the BORROWER'S PROJECT facilities including buildings or any portion thereof, are damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT facilities or any part thereof shall be taken under the exercise of the power of eminent domain, the BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion thereof, or to repayment of this loan. Any net proceeds remaining after such work has been completed shall be retained by the BORROWER. If the net insurance proceeds are insufficient to' pay the full cost of the replacement, ' repair and restoration, the BORROWER shall complete the work and pay any cost in excess of the net proceeds. In the event Borrower opts to repay the loan, Borrower shall remain responsible for the full loan amount outstanding regardless of the amount of such insurance proceeds or condemnation award. 8. Captions. The captions and headings contained in this contract are for convenience and reference only and shall not be construed so as to define or limit the terms or provisions contracted herein. 9. STATE'S Approval. This contract requires review and approval of plans, specifications, and various other technical and legal documents, The STATE'S review of these documents is only for the purpose of verifying BORROWER'S compliance with this contract and shall not be construed or interpreted as a technical review or approval of the actual design or construction of the PROJECT rehabilitation. Notwithstanding any consents or approvals given to the BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT, by preparing any such documents, shall be solely responsible for the accuracy and completeness of any of said documents. 10. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of any other term, or of any subsequent breach of the same term. 11. Addresses for mailing. All notices, correspondence, or other documents required by this contract shall be delivered or mailed to the following addresses: For the STATE: For the BORROWER: Colorado Water Conservation Board Attn: Construction Fund Section 1313 Sherman Street, Room 721 Denver, CO 80203 Pine River Canal Company Attn: President 1137 CR 329 Ignacio, CO 81137 D. SPECIAL PROVISIONS (6/97 versionl. State Fiscal Rule 3-1 requires the inclusion of these Special Pine River Canal Company Page 9 of 12 Loan Contract