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16. Liability.
<br />a, Grantee shall be responsible tor, and to the extent permitted by law irteluding any
<br />constitutional or statutory limitations on the ability of a governmental entity to provide
<br />indemnification), indemnify, defend and hold harmless the Board, its officers, agents and
<br />employees from any and all liabilities, claims, demands, damages or costs (including reasonable
<br />;al fees) resulting from, vrowing out off, or in any way connected with or incident to Grantee's
<br />Ibrmance of this Agreement. Grantee hereby waives any and all rights to any type of express
<br />mplied indemnity or right of contribution. from the State of Colorado, the Board, its members,
<br />officers, agents or employees, for any liability resulting from., growing out of or in any way
<br />connected. with or incident to this Agreement. Grantee acknowledges that Cirantee is the owner
<br />of the Project and the Property upon which it is located, or has control of the Project and the
<br />Property, and that GOCO neither possesses nor controls the Project, t.h.e Property, nor the
<br />operations of the Project.
<br />-11 thin.2 else in this Agreerrrerrt to the contrary not -ithstandinu n0 1
<br />ccoiditiorr of this Agree rae�rt sh ill re co st .aed or ii pre to d as a t -aiv er, e _
<br />implied, of any of the i.rnmunities, rights benefits or protection. provided to the Board tzrrcler the
<br />Colorado Governmental Immunity Act { `CGIA ") as amended or as may be amended in the
<br />future (including, without lirnitat_ion. any amendments to such statute, or under any similar
<br />statute which is subsequently enacted). This provision may apply to the Grantee if the Grantee
<br />qualifies for protection under the Colorado Governmental Immunity Act, C.R.S. §24 -10 -1(11 et
<br />seq. The Board and Grantee understand and agree that liability for claims for injuries to persons
<br />or property arising =, out of the neg,ligence of the Board, its members, officials, agents and
<br />employees may be controlled and/or limited by the provisions of the CGIA. The parties agree
<br />that no provision of this Agreement shall be construed in such a manner as to reduce the extent to
<br />he CGIA limits the liability of the Board, its members, officers, agents and employees.
<br />17. Audits and Accounting. Grantee shall maintain standard financial accounts documents,
<br />and records relating to the use, management, and operation of the Project. The accounts,
<br />and records related to the Project shall be retained by the Grantee for not less than
<br />(5) years following the date of disbursement of funds under this Agreement, The Board, or
<br />designated agent, shall have the right, upon reasonable notice to the Grantee, to audit the
<br />books and records of Grantee which pertain to the Project and to the use and disposition of Board
<br />funds. While the Grantee is not required to use GA.A.P (Generally A.cteepted Accounting
<br />Principles), the Grantee shall use reasonable and appropriate accounting systems in maintaining
<br />the required records hereunder.
<br />b.
<br />At no time shall Grantee represent in any manner to the. public or to any party that
<br />ted with LOCO or acting on behalf of GC)CO.
<br />1.8. Inspection Throughout the: term of this A reeme t (25 irs from date of this
<br />Agreement, unless otherwise agreed in writing), GOCO shah ha4 e the right to inspect the Project
<br />area to ascertain compliance , ,vit `
<br />Pro ec c equest,?
<br />6/28/7' 6
<br />m en.,
<br />is Agreeir cnt.
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