<br />8, CWCB May Release Contract. In its sole discretion, the CWCB may at any time give any
<br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the
<br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms
<br />and conditions as the CWCB may determine to be advisable to further the purposes of this
<br />contract or to protect the CWCB's financial interest therein, and consistent with both the
<br />statutory purposes of this Contract and the limitations of the statutory authority under which it
<br />is made.
<br />
<br />9, Casualty and Eminent Domain. If, at any time, during the term of this contract, (a) the
<br />BORROWER'S PROJECT facilities, including buildings or any portion thereof, are damaged or
<br />destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT
<br />facilities or any part thereof shall be taken under the exercise of the power of eminent domain,
<br />the BORROWER shall cause the net proceeds of any insurance claim or condemnation award
<br />to be - a-p-plied16 tlie prompCrepfaeemefit,- re-pair ana resToration of the -PROJ-Ecr-facilITies- 61' any
<br />portion thereof, or to repayment of this loan, Any net proceeds remaining after such work has
<br />been completed or this loan has been repaid, shall be retained by the BORROWER, If the net
<br />Insurance proceeds are insufficient to pay the full cost of the replacement, repair and
<br />restoration, the BORROWER shall complete the work and pay any cost in excess of the net
<br />proceeds, In the event BORROWER opts to repay the loan, BORROWER shall remain
<br />responsible for the full loan amDunt outstanding regardless of the amount of such insurance
<br />proceeds or condemnation award,
<br />
<br />10, CaptiDns. The captions and headings contained in this contract are for convenience and
<br />reference only and shall not be construed so as to define or limit the terms or provisions
<br />contracted herein,
<br />
<br />11, CWCB's Approval. This contract requires review and approval of plans, specifications, and
<br />various other technical and legal documents, The CWCB's review of these documents is only
<br />for the purpose of verifying BORROWER'S compliance with this Contract and shall not be
<br />construed or interpreted as a technical review or approval of the actual design or construction
<br />of the PROJECT, Notwithstanding any consents or approvals given to the BORROWER by the
<br />CWCB on any such documents, BORROWER shall be solely responsible for the accuracy and
<br />completeness of such documents,
<br />
<br />12, Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver
<br />of any other term, or of any subsequent breach of the same term,
<br />
<br />13, Addresses for mailing. All notices, correspondence, or other documents required by this
<br />contract shall be delivered or mailed to the addresses shown in the Section 1 (Borrower
<br />InfDrmation) of the Project Summary, for the BORROWER and to the address below for the
<br />CWCS:
<br />
<br />Colorado Water Conservation Board
<br />Altn: Construction Fund Section
<br />1313 Sherman Street, Room 721
<br />Denver, CO 80203
<br />
<br />14, Additional Contract Requirements, Any additional contract requirements are shown in
<br />Additional Contract Requirement (Section 10) of the Project Summary,
<br />
<br />SPECIAL PROVISIONS (12/01 version), State Fiscal Rule 3-1 requires the inclusion of these
<br />Special Provisions in every STATE contract, including grants.
<br />
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<br />Loan Contract
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