C153707 Contract - Laserfiche WebLink

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9. Pursuant to the BORROWER'S articles of incorporation, bylaws, and statutory authority, the BORROWER has authority to contract to borrow money provided that a resolution approving said actions has been duly adopted by its stockholders or board of directors and to levy assessments assuring repayment of the loan to the STATE in accordance with the terms of this contract; and 10. The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon mutually agreeable terms and conditions. NOW THEREFORE, in consideration of tl1e mutual and dependent covenants contained, it is agreed by the parties as follows: A. The BORROWER agrees as follows: 1. Construction Fund Program procedures. The following items are procedures the BORROWER will follow during the construction phase of the PROJECT. a. preparation of plans and specifications. This PROJECT will be completed in accordance with the plans and specifications of the Natural Resources Conservation Service (NRCS), formerly the Soil Conservation Service (SCSl. b. Bidding. ewCB staff must approve bidding for the PROJECT. BORROWER may prepare the notice of award and the notice to proceed with construction to the contractor; however, both notices must be approved by the oNCB staff before they are issued. The BORROWER shall conduct a pre-construction conference and the ewCB staff will have the opportunity to review and approve the construction schedule. c. performance of work. The BORROWER shall contract for the construction of the work with responsible and capable firms, hereinafter referred to as CONSTRUCTION FIRMS, which CONSTRUCTION FIRMS shall be selected by the BORROWER and found acceptable by the STATE before work under this contract begins. The BORROWER may perform portions of the construction work, provided that STATE approval is obtained in advance of this work being performed. All work must be completed in accordance with NRCS plans and specifications. d. As-built drawings. upon completion of the PROJECT, the BORROWER will provide as-built drawings of the PROJECT to the ewCB staff for approval and filing. 2. Time for PROJECT completion. The BORROWER shall commence with construction of the PROJECT as soon as practicable to effect completion within three (3) years of the date of this contract. The PROJECT shall be constructed in accordance with the PROJECT plans and specifications, and with any modifications thereof approved by the STATE. The time for completion of the PROJECT may be extended subject to the mutual agreement of the STATE and the BORROWER. The BORROWER must provide, in writing, request of extension sixty (60) days prior to the end of the three (3) year period for completion. The BORROWER further recognizes that time is of the essence in the performance of all of its obligations under this contract. 3. Indemnification of the STATE. The BORROWER shall require all CONSTRUCTION FIRMS and their subcontractors to indemnify the STATE and the BORROWER against all liability and loss, and against all claims and actions based upon or arising out of damage or injury, including death, to persons or property, caused by any acts or omissions of tnose parties or sustained in connection with the performance of any contract related to the PROJECT or by conditions created thereby, or based upon a violation of any statute, ordinance, or regulation, and the defense of any such claims or actions. 4. Liability insurance during construction. The BORROWER shall require the CONSTRUCTION FIRM and its subcontractors to maintain during the term of their contracts for construction of the PROJECT the following: RAINBOW PARK WATER COMPANY Page 2 of 11 LOAN CONTRACT