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<br />PROJECT costs expended for that period and shall forward said statement to the CWCB, After <br />receipt of the periodic progress report from the BORROWER, and review and acceptance of the <br />items therein as eligible expenses as described below, the CWCB will pay to the BORROWER the <br />amount set forth in the report or such portion that has been approved by the CWCB, Such <br />payment shall be made within thirty (30) days from the CWCB's approval of each progress <br />report, <br /> <br />SECTION 7 - CONSTRUCTION FUND PROGRAM PROCEDURES <br /> <br />A, The BORROWER shall employ an engineer, registered in the state of Colorado to prepare plans <br />and specifications for the PROJECT, <br /> <br />B, The BORROWER'S and the Engineering Consultant's Agreements and the plans and <br />specifications must be submitted to the CWCB staff for verification of compliance with the <br />terms of this contract when available prior to bidding. Any modifications to the plans and <br />specifications must be approved in writing by the CWCB staff, <br /> <br />C, For plans and specifications for all jurisdictional dams and reservoirs, as defined by S 37.87- <br />105 C,RS" the BORROWER shall provide a letter of approval from the State Engineer's Office <br />prior to construction, <br /> <br />D. CWCB staff must be present at bidding and must approve the award of the construction <br />contract <br /> <br />E, The BORROWER shall contract for the construction of the work with responsible and capable <br />Construction Firms, which said Construction Firms shall be selected by the BORROWER and <br />found acceptable by the CWeB staff, <br /> <br />F, The BORROWER must provide a copy of the executed construction contract documents <br />consisting of the contractor's proposal, construction contract, performance bond, payment <br />bond, notice of award, notice to proceed, sample change order, and sample field order, as <br />well as the advertisement for bid and bid bond at bidding, After the CWCB staff verifies that <br />these documents comply with the terms of this contract, the BORROWER may issue the notice <br />to proceed to the Construction Firms, <br /> <br />G, The BORROWER shall conduct a pre-construction conference at which time the CWCB staff <br />shall have the opportunity to review and approve the construction schedule, <br /> <br />H, 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 <br />staff, <br /> <br />L The BORROWER shall construct the PROJECT in accordance with the approved plans and <br />specifications, <br /> <br />J, Upon completion of the PROJECT construction, the BORROWER shall provide as-built drawings <br />of the PROJECT to the CWCB staff, or, if required by S 37-87-105, C,RS" the BORROWER shall <br />provide the as-built drawings to the State Engineer's Office for approval and filing, <br /> <br />K, Upon completion of the PROJECT construction, the BORROWER shall arrange a final inspection <br />for the CWCB staff, <br /> <br />L The BORROWER shall pay all of the expenses related to the PROJECT when such bills are due. <br /> <br />SECTION 8 - EUGIBLEExPENSES, The following items are eligible for loan disbursements, <br /> <br />A Preparing final designs and specifications for the PROJECT, <br /> <br />