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Said liability insurance shall name the State as a co-insured. A copy of a certificate of said liability insurance must be filed with the Colorado Water Conservation Board prior to the start of the operation of the project system. 8, Make the services of said project available within its capacity to all persons in the Contractor's service area without discrimination as to race, color, religion, or natural origin at reasonable charges including assessments, taxes, or. fees in accordance with a schedule of sucn charges, whether Lor one or more classes of service, formally adopted by the Contractor through its board of directors, as may be modified from time to time by the Contractor. The initial rate schedule must be approved by the State. Thereafter, the Contractor may, subject to the approval of the State, make such modifications to the rate schedule as the Contractor deems necessary to efficiently and economically provide for the financial requirements of the system as long as the rate schedule remains reasonable and non-discriminatory. 9. Adjust its operating costs and service charges from time to time to provide for adequate operation and maintenance, emergency repair services, obsolescence reserves, and debt reserves. 10. Expand the system from time to time to meet reasonable growth or service requirements in the area within its jurisdiction. 11. Provide the Sta t u h periodic reports as it may require and permit period c ions of its operations and accounts by a designated represe of the State. 12. Purchase fro~~ S~t~ the State's right, title, and interest in'l'aid project and any facilities thereof at a total purchase price of Four Hundred Eighty-Nine Thousand Three Hundred Nine Dollars and Forty-Four Cents (5489,309.44) payable in forty (40) annual installments of Twelve Thousand Two Hundred Thirty-Two Dollars and Seventy-Four Cents ($12,232.74)'each, which first installment shall be due and payable on May 1, 1984, and yearly thereafter until the entire principal sum shall have been paid. Said installment payments shall be made payable to the Colorado water Conservation Board, payable at the offices of said Board in Denver, Colorado. 13. Obtain and maintain general fire and hazard insurance on the project system in an amount not less than the amount owing to the State for purchase of the project system until the Contractor has purchased the project system. The State shall be the sole insured of this policy. The purchase price payable to the State shall be reduced in the amc:unt of any'' payments made to the State under this insurance coverage; ~_ only a pcrtion of the purchase price is paid to the State under this policy, the number of installment payments shall remain unchanged, however the amount of each payment shall be reduced. 14. Comply with Construction E'und Program Procedures attached hereto as Schedule A. 15. Comply with the provisions of Section 5 of S.R. 439, 1981 Session of the Colorado General Assembly. 16. Not sell, convey, assign, grant, transfer, or otherwise dispose of the project or any portion thereof, so long as any of the annual installments required by paragraph A.12. above remain unpaid, without the prior written concurrence of the State.