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<br />5. In consideration of the State aS6uming a portion of the <br />cost of the preparation of the said project feasibility report. <br />the Contractor shall pay to the State the sum of Seventy-Seven <br />Thousand seven Hundred Dollars ($77,700) provided that <br />construction of the subject water project is initiated ~ithin <br />ten (10) years of the date of this contract. The Contractor <br />shall fulfill this obligation irrespective of how or by whom or <br />to what specifications or plans the subject project is <br />financed, paid, or constructed for so long as construction of <br />the project is initiated within the speci:ied time. <br /> <br />6. In the event the Contractor must make payment pursuant <br />to the terms of paragraph 5. above, then the said sum of <br />Seventy-Seven Thousand Seven Hundred Dollars ($77,700) shall be <br />payable in ten (10) equal yearly installments of Seven Thousand <br />Seven Hundred Seventy DOlla~. 70) each, the first <br />installment to be due an~ ~ pon the January 1st next <br />succeeding the initiation~~ struction on the said water <br />project. subsequent payments s~irb1r due and payable on <br />January 1st of each ye~e~~~JLJ <br /> <br />7. This contract ~1~rsonal in nature and assignment of <br />performance by the Contractor to another is prohibited unless <br />prior approval in writing is granted by the State. <br /> <br />8. The Contractor is an independent contractor and as such <br />is not entitled to any benefits of the State personnel systeffi. <br /> <br />9. The original contract price stated in paragraph 4. and <br />any additions thereto shall be adjusted to exclude any <br />significant sums by whiCh the State determines the contract <br />price increased due to inaccurate~ incomplete. or noncurrent <br />wage rates and other factual unit costs. All such contract <br />adjustments shall be made within one (1) year following the end <br />of the contrac't. <br /> <br />10. The Con'trac'tor warrants that he has not employed or <br />retained any company or person, other than a bona fide employee <br />working solely for him, to solicit or secure this contract and <br />that he has not paid or agreed to pay any person. company. <br />corporation. individual. or firm. other than a bona fide <br />employee working solely for him, any fee. commission, <br />percentage, gift. or other consideration contingent upon or <br />resul~ing from the award or the making of this contract. <br /> <br />11. All notices. correspondence. or other documents <br />required by this contract shall be delivered or mailed to the <br />following addresses: <br /> <br />a. <br /> <br />For the S'tate <br /> <br />b. <br /> <br />For the Contractor <br /> <br />Mr. J. William McDonald. Direc'tor <br />Colorado Water Conservation Board <br />721 State CentennialcBuilding <br />1313 Sherman Street <br />Denver, CO 802C3 <br />Attn: Nick Ioannides <br /> <br />Farmers Water Development <br />Company <br />Box 387 <br />Norwood, CO 81423 <br />Attn: ROy M. Davis, President <br /> <br />; <br />. <br />\ <br /> <br />page 2 of i pages <br />