Laserfiche WebLink
IX. GENERAL PROVISIONS <br />A. Operating Agent Acting as Yampa Participants' Agent. Subject to the limitations <br />set forth herein, the Yampa Participants hereby authorize their Operating Agent, <br />which currently is Tri-State, to act as their agent on their behalf in the <br />administration and implementation of this Amended and Restated Agreement, and <br />agree that Craig and the River District may rely on this authorization. The scope <br />of Operating Agent's agency extends to all matters reasonably necessary to <br />implement this Amended and Restated Agreement, but the Operating Agent shall <br />not bind the other Yampa Participants to any amendments of this Amended and <br />Restated Agreement, other than extensions of time. The Yampa Participants shall <br />promptly notify Craig and the River District of any change in their designated <br />Operating Agent. <br />B. Effective Date and Termination. This Amended and Restated Agreement shall <br />become fully effective after execution hereof by all of the Parties and Substantial <br />Completion of the Reservoir Enlargement, provided, however, that the provisions <br />of Subsection III. B. above shall become effective upon full execution of this <br />Agreement; that the Recitals herein are true and correct as of the date of the full <br />execution hereof; and that the representations of authority in Section IX. E. 1 <br />below are effective as of that date of full execution. The River District shall <br />promptly notify Craig and the Yampa Participants of the fact and date of <br />Substantial Completion. If the River District has not given such notice of <br />Substantial Completion within seven years after the date of full execution hereof, <br />any Party may terminate this Amended and Restated Agreement by giving notice <br />of such termination to the other Parties at any time thereafter, whereupon this <br />Amended and Restated Agreement shall be null, void and of no further force and <br />effect. <br />C. Term of Agreement. <br />1. Because the River District maybe limited by § 37-46-148, C.R. S _ to a 75- <br />year term of agreement, in regard to the term applicable to the River <br />District's rights and obligations hereunder, the initial term shall be 75 <br />years from that date of the full execution hereof. Starting on the first <br />annual anniversary of that full execution and on each subsequent annual <br />anniversary thereafter, unless written notice to the contrary is provided by <br />any Party or Parties to the other Parties prior to the annual anniversary <br />date, this Agreement shall automatically be renewed for an additional one- <br />year term so that a full 7~-year term is restored continually. After notice <br />has been sent by any Party objecting to any one-year term renewal, this <br />provision shall not effectuate an automatic one-year term renewal in any <br />subsequent year. <br />13 <br />