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<br />and the limitations of the statutory authority under which it is made, <br /> <br />7, 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, the <br />BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be <br />applied to the prompt replacement, repair and restoration of the PROJECT facilities or any portion <br />thereof, or to repayment of this loan. Any net proceeds remaining after such work has been <br />completed shall be retained by the BORROWER, If the net insurance proceeds are insufficient to <br />pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the <br />work and pay any cost in excess of the net proceeds, In the event Borrower opts to repay the <br />loan, Borrower shall remain responsible for the full loan amount outstanding regardless of the <br />amount of such insurance proceeds or condemnation award. <br /> <br />8. Captions. 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 />9. STATE'S Approval. This contract requires review and approval of plans, specifications, and <br />various other technical and legal documents, The STATE'S review of these documents is only for <br />the purpose of verifying BORROWER'S compliance with this contract and shall not be construed or <br />interpreted as a technical review or approval of the actual design or construction of the PROJECT <br />rehabilitation, Notwithstanding any consents or approvals given to the BORROWER by the STATE <br />on any such documents, BORROWER and its CONSULTANT, by preparing any such documents. shall <br />be solely responsible for the accuracy and completeness of any of said documents. <br /> <br />10. Waiver. The waiver of any breach of a term of this contract shall not be construed as a waiver of <br />any other term, or of any subsequent breach of the same term. <br /> <br />11. Addresses for mailing. All notices, correspondence, or other documents required by this <br />contract shall be delivered or mailed to the following addresses: <br /> <br />For the STATE: For the BORROWER: <br /> <br />, Colorado Water Conservation Board Greeley and Loveland Irrigation Company <br />Attn: Construction Fund Section Attn: Ron Brinkman <br />1313 Sherman Street, Room 721 808 23rd Avenue <br />Denver, CO 80203 Greeley, CO 80631 <br /> <br />0, SPECIAL PROVISIONS (6/97 version), State Fiscal Rule 3-1 requires the inclusion of these Special <br />PrDvisions in every STATE contract, including grants, <br /> <br />Controller's Approval <br /> <br />" This contract shall not be deemed valid until it shall have been approved by the Controiler of the State of <br />Colorado Dr such assistant as he may designate, This prDvision is applicable to any contract involving the <br />payment Df mDney by the STATE, <br /> <br />FUND AVAILABILITY <br /> <br />2. Financial obligations of the State of Colorado payable after the current fiscal year are cDntingent upon funds <br />for that purpose being appropriated, budgeted, and Dtherwise made available, <br /> <br />Greeley & Loveland <br />Irrigation Company <br /> <br />Page 10 of 13 <br /> <br />Loan Contract <br />