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<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 /> <br />Page 6 of 8 <br /> <br />Loan Contract <br />