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<br />H, Pursuant to 1994 Colo. Sess. Laws, Section 1, Chapter 265, as amended in the 1995
<br />Colo, Sess, Laws, the Colorado General Assembly authorized CWCB to loan to the BORROWER an
<br />amount not to exceed $750,500 for the PROJECT.
<br />
<br />L Remy Labrouche and Ruth A, Labrouche, stockholders of the BORROWER, have agreed to
<br />convey a security interest to the STATE in certain property owned by them as individuals as part of
<br />the security for this loan,
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<br />J, The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT
<br />upon mutually agreeable terms and co'nditions.
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<br />NOW THEREFORE, in consideration ofthe mutual and dependent covenants contained, the
<br />parties agree as follows:
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<br />A, The BORROWER agrees as follows:
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<br />1, Construction Fund Program procedures. The following items are procedures the BORROWER
<br />shall follow during the construction phase of the PROJECT rehabilitation.
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<br />a, The BORROWER shall employ an engineer, registered in the State of Colorado, hereinafter
<br />referred to as the CONSULTANT, to prepare plans and specifications for the PROJECT,
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<br />b, The agreement between the BORROWER and the CONSULTANT and the plans and
<br />specifications must be submitted to the CWCB staff for verification of compliance with the
<br />terms of this contract prior to bid opening. Any modifications to the plans and specifications
<br />must be approved in writing by the CWCB staff.
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<br />c. For plans and specifications for all jurisdictional dams and reservoirs, as defined by ~ 37-
<br />87-105 C.R,S. (1990), the BORROWER shall 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.
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<br />e. The BORROWER shall contract for the construction of the work with responsible and capable
<br />firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be
<br />selected by the BORROWER and found acceptable by the eWCB staff before work under this
<br />contract begins.
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<br />f. The BORROWER must provide a copy of the executed construction contract documents
<br />consisting of the advertisement for bid, contractor's proposal, construction contract, bid bond,
<br />performance bond, payment bond, notice of award, notice to proceed, sample change order,
<br />and sample field order. After the CWCB staff verifies that these documents comply with the
<br />terms of this contract, the BORROWER may issue the notice to proceed to the CONSTRUCTION
<br />FIRMS,
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<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,
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<br />h, If the CWCB staff determines that the PROJECT requires a resident inspector during
<br />construction, the BORROWER shall employ an inspector who has been approved by the CWCB
<br />staff ,
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<br />Vouga Reservoir Association
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<br />Loan Contract
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