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C153388 contract docs
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C153388 contract docs
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Last modified
6/15/2010 1:39:24 PM
Creation date
6/14/2010 2:20:14 PM
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Loan Projects
Contract/PO #
C153388
Contractor Name
Rangely, Town of
Contract Type
Loan
County
Rio Blanco
Loan Projects - Doc Type
Contract Documents
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previous defaults by the Contractor, through judicial proceedings <br />to require specific performance of this cantract or by such other <br />proceedings in law or equity as may Ue deemed necessary by the <br />State to insure compliance with provisions of t-h;� contract and <br />the laws and regulations under which this cunLiucL is made. <br />B. The State agrees that it will: <br />1. Make available to the Contrac.ter for the purpose of this <br />contract the sum of Five Hundred Ei�hty-One Thousand Five Hundred <br />Thirty Dollars ($581,530). SaiC Fiue Hundred Eighty-One Thousand <br />Five Hundred Thirty Dollars ($531,550) shall be made available to <br />the Contractor in accordance witr t: following terms, schedule <br />and conditions: <br />a. Beginning with the mor_thly� period commencing July 1, 1976, <br />and for every month thereaftar until said project has been <br />completed, the Contractor shall prepare an estimate of the <br />funds required from the 3tata for project construction during <br />that month and shall foYH�ard said estimate to the State not <br />less than fifteen (15) days prior to the beginning of such <br />month. <br />b. Upon receipt and approval by the State of such monthly <br />estimate, the State will, within thirty (30) days from the <br />receipt of such estimate, pay over to the Contractor the <br />amount of the monthly estimate or such portion thereof as has <br />been approved by the State. <br />2. Assis� the Contractor with such technical assistance as the <br />State deems appropriate in lann' constructing, and operating <br />the project and in coordina t oject with local official <br />comprehensive plans for sew • r and with any state or <br />area plans for the area in which the ro ect is located. <br />3. In its sole discreti �� h�����t any time give any <br />consent, deferment, subo��3'Tn�tion, release, satisfaction, or <br />termination of any or all of the Contractor's obligations under <br />this agreement, with or without valuable consideration, upon such <br />terms and conditions as the State may determine to be (a) advisable <br />to further the purposes of this contract or to protect the State's <br />financial interest therein, and (b) consistent with both the <br />statutory purposes of this contract and the limitations of the <br />statutory authority under which it is made. <br />4. Upon completion of the payment of the full purchase price to <br />the State in the sum of Nine Hundred Eighteen Thousand Three <br />Hundred Sixty Dollars ($918,360) as set forth in paragraph A. 9. <br />of this contract, to convey to the Contractor all of the State�s <br />right, title and interest in and to the project by deed or other <br />proper conveyance. <br />Page •3 of S pages <br />
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