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<br />'- <br /> <br />maintenance of the project from the time it accepts the <br />constructed project as substantially completed until it <br />completes repayment to the state, in at least the following <br />amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of One Hundred Fifty Thousand <br />Dollars ($150,000). <br /> <br />b. For any injury to two or more persons in any single <br />occurrence, the sum of Four Hundred Thousand Dollars <br />($400,000). <br /> <br />c. For any damage to property, the sum of Four Hundred <br />Thousand Dollars ($400,000) for each occurrence. <br /> <br />Said general liability insurance shall name the state <br />as a co-insured. A copy of a certificate of said <br />liability insurance must be filmii'th the state prior <br />to the start of the operation 0 ' ct system. <br />Such certificate shall be incorp ein as part <br />of this contract. j[~r <br /> <br />8. Make the services of said profett~;r'bJ1~within its <br />capacity to all qualified persons in the con~~ service <br />area without discrimination as to race, color, relig~on,. or <br />natural origin at reasonable charges (including assessments, <br />taxes, or fees), whether for one or more classes of service, in <br />accordance with a schedule of such charges formally adopted by <br />the Contractor through its elected officials, as may be modified <br />from time to time. The initial rate schedule must be approved <br />in writing by the state before any such charges are initially <br />assessed. Thereafter, the Contractor may, subject to the <br />approval of the state, make such modifications to the rate <br />schedule as the Contractor deems necessary to efficiently and <br />economically provide for the financial requirements of the <br />system, including repayment of the state, as long as the rate <br />schedule remains reasonable and non-discriminatory. <br /> <br />9. Pursuant to its By-Laws, adjust its operating costs and <br />service charges and levy assessments from time to time as <br />necessarYr upon written notice from the state, to provide <br />sufficient funds for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves, and to assure repayment of the project loan 'to the <br />State as provided herein. Should the stockholders fail to set <br />any assessment, the Contractor shall establish an adequate <br />assessment for purposes of this contract pursuant to Section <br />7-42-104(2), CRS (1986). <br /> <br />10. Pursuant to its Articles of Incorporation and to its <br />By-Laws have its Board of Directors take all necessary actions <br />consistent therewith to adopt an order or a resolution <br />authorizing the Contractor to contract this loan debt, and <br />authorizing the President and the Secretary to paYLthe <br />JOJ1 indebtedness. Such orders shall be attached hereto as Exhibit C <br />~VI and included herein. The Contractor, through a majority vote of <br />.....,. \ its stOCk. hO. Iders, sha. 11 also. .auth.orize the varraJl.ty deed of trust and <br />j)Vv security interest required by the State in paragraph B.14. <br />below. Such authorization shall be attached hereto and <br />incorporated herein as Exhibit D. The above conditions must be <br />performed by the Contractor prior to the State performance under <br />this contract. . <br /> <br />11. Pursuant to Section 7-42-104, CRS (1986), and to its <br />Articles of Incorporation and to its By-Laws, including, but not <br />limited to, Article 4, the Contractor, through either its <br />stockholders or its Board of Directors, shall take all necessary <br /> <br />Page ~ of 11 Pages <br />