Laserfiche WebLink
<br />': <br /> <br />r"" <br />( <br /> <br />J. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon <br />mutually agreeable terms and conditions. <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained, the <br />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 BORROWER shall <br />follow during the construction phase of the PROJECT rehabilitation. <br /> <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. <br /> <br />b. The agreement between the BORROWER and the CONSULTANT and the plans and specifications <br />must be submitted to the CWCB staff for verification of compliance with the terms of this contract <br />prior to bid opening. Any modifications to the plans and specifications must be approved in <br />_writing by the CWCB staff. <br /> <br />c. CWCB staff must be present at bid opening and must approve the award of the construction <br />contract. <br /> <br />d. 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 selected <br />by the BORROWER and found acceptable by the CWCB staff before work under this contract begins. <br /> <br />e. 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, and <br />sample field order. After the CWeB staff verifies that these documents comply with the terms <br />of this contract, the BORROWER may issue the notice to proceed to the CONSTRUCTION FIRMS. <br /> <br />f. The BORROWER shall conduct a pre-construction conference at which time the CWCB staff shall <br />have the opportunity to review and approve the construction schedule. <br /> <br />g. 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 staff. <br /> <br />h. The BORROWER shall construct the PROJECT in accordance with the approved plans and <br />specifications. <br /> <br />i. Upon completion of the PROJECT construction, the BORROWER shall provide as-built drawings of <br />the PROJECT to the CWCB staff, and, if required by ~ 37-87-105, C.R.S. (19901, the BORROWER <br />shall provide the same drawings to the State Engineer's Office for approval and filing. <br /> <br />j. Upon completion of the PROJECT construction, the BORROWER shall arrange a. final inspection for <br />the CWCB staff, CONSTRUCTION FIRM, and the CONSULTANT. <br /> <br />2. Time for PROJECT completion. The BORROWER recognizes that time is of the essence in the <br />performance of all of its obligations under this contract. Therefore, the BORROWER shall commence with <br />construction in order to complete the PROJECT no later than two (2) years from the date of this contract. <br />The time for completion of the PROJECT may be extended subject to the approval of the STATE. The <br /> <br />Bravo Ditch Company <br /> <br />Page 2 of 11 <br /> <br />Loan Contract <br />