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� <br />� <br />B. Disbursement of grant. A payment not exceeding 70% of the grant shall be <br />processed no later than June 30, 2006. The remaining portion of the grant shall be <br />disbursed no later than June 30, 2007. <br />C. Use of portion of grant funds GRANTEE SI1811 allocate $446,684.00 of the grant <br />towards the purchase of 5,000 acre-feet of water and storage in the Elkhead <br />Reservoir Enlargement Project, which water and storage space will be used by the <br />UCRIP to mitigate and improve conditions for the Colorado River endangered fish in <br />critical habitat in the Yampa River. <br />D. Grantee representations GRANTEE represents and warrants that the information <br />submitted to the CWCB, as a part of the Application or in connection therewith, was and <br />continues to be a true and correct accounting of the Gw�,tvTEE's costs in connection with <br />the subject matter of this contract. GRa,NTEE further represents and warrants that the <br />Application, and related information, is not misleading in any material respect. GwaNTEE <br />agrees to submit to CWCB any further documentation as may be requested by the <br />CWCB in connection with the Application and the nonreimbursable expenditure. <br />E. Contract period. The time period to be covered by this contract shall begin on April <br />15, 2006, or the date the State Controller, or designee, executes this contract, <br />whichever is later, shall be undertaken and performed in the sequence and manner <br />set forth herein, and shall end upon the disbursement of the grant funds, or no later <br />than June 30, 2007. <br />F. Termination of contract for cause. If, through any cause, the GRaNTEE fails to fulfill in <br />a timely and proper manner its obligations under this contract or if the GRANTEE violates <br />any of the provisions of this contract, the CWCB shall thereupon have the right to <br />terminate this contract for cause by giving written notice to the GRANTEE of such <br />termination and specifying the effective date thereof, at least ten (10) days before the <br />effective date of such termination. <br />G. Severability. To the extent that this contract may be executed and performance of the <br />obligations of the parties may be accomplished within the intent of this contract, the <br />terms of this contract are severable, and should any term or provision hereof be <br />declared invalid or become inoperative for any reason, such invalidity or failure shall not <br />affect the validity of any other term or provision hereof. The waiver of any breach of a <br />term hereof shall not be construed as waiver of any other term. <br />H. Assignment. Neither party may assign its rights or duties under this contract without <br />the prior written consent of the other party. <br />I. Integration of all understandings. This contract is intended as the complete <br />integration of all understandings between the parties. No prior or contemporaneous <br />addition, deletion, or other amendment hereto shall have any force or effect whatsoever <br />unless embodied herein in writing. No subsequent novation, renewal, addition, deletion, <br />or other amendment hereto shall have any force or effect unless embodied in a written <br />contract executed and approved pursuant to STaTE fiscal rules. <br />J. Captions. The captions and headings contained in this contract are for convenience <br />and reference only and shall not be construed so as to define or limit the terms or <br />provisions contracted herein. <br />Grant Contract No. C150219 <br />Page 3 of 7 <br />