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<br />Generic GO Bond Proceeds 28 Ver – 10/26/2020 <br />Grant Agreement for Construction Grants <br /> <br /> <br />O. The State Entity shall have received evidence, in form and substance acceptable to <br />the State Entity, that the Contractor will complete the Construction Items substantially in <br />conformance with the Construction Contract Documents and pay all amounts lawfully owing <br />to all laborers and materialmen who worked on the Construction Items or supplied materials <br />therefor, other than amounts being contested in good faith. Such evidence may be in the form <br />of payment and performance bonds in amounts equal to or greater than the amount of the fixed <br />price or guaranteed maximum price contained in the Construction Contract Documents that <br />name the State Entity and the Public Entity dual obligees thereunder, or such other evidence as <br />may be acceptable to the Public Entity and the State Entity. <br /> <br />P. No determination shall have been made by the State Entity that the amount of funds <br />committed to the Project is less than the amount required to pay all costs and expenses of any <br />kind that may reasonably be anticipated in connection with the Project, or if such a <br />determination has been made and notice thereof sent to the Public Entity under Section 6.03, <br />then the Public Entity has supplied, or has caused some other entity to supply, the necessary <br />funds in accordance with such section or has provided evidence acceptable to the State Entity <br />that sufficient funds are available. <br /> <br />Q. The Public Entity has supplied to the State Entity all other items that the State Entity <br />may reasonably require. <br /> <br />Section 6.05 Construction Inspections. The Public Entity and the Architect, if any, shall <br />be responsible for making their own inspections and observations of the Construction Items, and shall <br />determine to their own satisfaction that the work done or materials supplied by the Contractors to <br />whom payment is to be made out of each Advance has been properly done or supplied in accordance <br />with the Construction Contract Documents. If any work done or materials supplied by a Contractor <br />are not satisfactory to the Public Entity or the Architect, if any, or if a Contractor is not in material <br />compliance with the Construction Contract Documents in any respect, then the Public Entity shall <br />immediately notify the State Entity, in writing. The State Entity and the Inspecting Engineer, if any, <br />may conduct such inspections of the Construction Items as either may deem necessary for the <br />protection of the State Entity's interest, and that any inspections which may be made of the Project <br />by the State Entity or the Inspecting Engineer, if any, are made and all certificates issued by the <br />Insp ecting Engineer, if any, will be issued solely for the benefit and protection of the State Entity, <br />and the Public Entity will not rely thereon. <br /> <br />Article VII <br />MISCELLANEOUS <br /> <br />Section 7.01 Insurance. The Public Entity shall, upon acquisition of the ownership interest <br />delineated in Section 2.02, insure the Facility, if such exists, in an amount equal to the full insurable <br />value thereof (i) by self insuring under a program of self insurance legally adopted, maintained and <br />adequately funded by the Public Entity, or (ii) by way of builders risk insurance and fire and extended <br />coverage insurance with a deductible in an amount acceptable to the State Entity under which the <br />State Entity and the Public Entity are named as loss payees. If damages which are covered by such