C153170 contract docs - Laserfiche WebLink

Home Browse Search

� � `' �. To purchase from the State all of the State's right, title, and interest in said project and any facilities thereof at a total purehase price of Five Hundred Thirty-Five Thousand Eight Hundred Dollars ($535,800), payable in thirty (30) annual installments of Seventeen Thousand Eight Hundred Sixty Dollars ($17,860) each, which first installment shall be due and payable on May l, 1980, and yearly thereafter until the entire principal sum shall have been paid. Said installment payment shall be made payable to the Colorado Water Con- servation Board, payable at the offices of said board in Denver, Colorado. 10. Upon default in the payments herein set•forth to be made by the Contractor, or in the performance of any convenant or agreement contained herein, the State, at its option, may (a) declare the entire principal amount then outstanding immediately due and payable; (b) for the account of the Contractor incur and pay reasonable expenses for repair, maintenance, and operation of the domestic water system herein described and such other reasonable expenses as may be necessary to cure the cause of default; and/or (c) take possession of the system, repair, maintain, and operate or lease it. The provisions of this contract may be enforced by the State, at its option without regard to prior waivers by it of previous defaults by the Contractor, through judicial proceedings to require s�c performance of this contract or by such other proceedings equity as may be deemed nec- essary by the State to insur�c iance 'th provisions of this con- tract and the laws and regulations ��r 'ch this contract is made. � '�"� B. The State agrees that 'l� �� . 1. Make available to the Contractor for the purpose of this contract the sum of Four Hundred Thousand Dollars ($400,000). Said Four Hundred 'I�housand Dollars {$400,000) shall be made available to the Contractor in accordance with the following terms, schedule and conditions: a. Beginning with the monthly period commencing Ju1y 1 1978 and for every m�nth thereafter until said project has b�en a�mpleted, the Contractor shall prepare with the consult�.;:.; engineer's help an estimate of the funds required from the State for project construction during that month and shall forward said estimate to the State not less than fifteen (15) days prior to the beginning of such month. b. Upon receipt and approval by the State of such monthly estimate, the State will, within thirty (30) days from the receipt of such estimate, pay over to the Contractor the amount of the monthly estimate or such portion thereof as has been approved by the State. 2. Assist the Contractor with such technical assistance as the State deems appropriate in planning, constructing, and operating the project and in coordinating the project with local official compre- hensive plans for sewer and water and with any state or area plans for the area in which the project is located. 3. In its sole discretion, the State may at any time give any consent, deferment, subordination, release, satisfaction, or termina- tion of any or all of the Contractor's obligations under this agree- ment, with or without valuable consideration, upon such terms and conditions as the State may determine to be (a) advisable to further the purposes of this contract or to protect the State's financial interest therein, and (b) consistent with both the statutory purposes of this contract and the limitations of the statutory authority under which it is made. 4. Upon completion of the payment of the full purchase price to the State in the sum3of Five Hundred Thirty-Five Thousand Eight Hundred Dollars ($5�5,800) as set forth in paragraph A. 9. of this contract, to convey`to the Contractor all of the State's right, title, and interest in and to the project by deed or other proper conveyance. Page 3 of 5 pages