C153564 PIF contract

• Contract/PO #: C153564
• Contractor Name: Bauer Lakes Water Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

the
the
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As security for the loa o be made to it by the
Sta e,�execute a vasrarat�r deed ithin thirty (30) days of thecompletion o
project f3�ss-adva�ca-e€--f-uads-€so�-tAe-�Stata-as-�r-evad�e�-3-n--pafagFa�►h
�} �.-a,--belcia which shall convey to the S�a�e-�#�e-€e�l-o�r�.�rq-= Public Trustee
following, as such are incorporated in the project: of Montezuma County
a. 23,000± cubic yards of embankment material for the benefit of
the State
b. 190± linear feet of 18-inch class V R.C. pipe with
all appurtenances.
c .
d.
e.
f.
9•
An 18-inch qate, air vent pipe, and all appurtenances.
5+ cubic yards of concrete in association with item c.
above.
6± cubic yards of concrete for five cutoff collars.
Five gauge rods.
480± cubic yards of b-inch pit run, sand and qravel
mat.
h. 725± cubic yards of 18-inch rock riprap.
i.
]•
750± cubic yards
3± cubic yards of
sections.
of old riprap
C �.Y
� p
spillway control
15. Obtain and maintain ge e � �azard insurance
on the project in an amou 1 the ovtstandinq
amount of the loan made by e to the Contractor until
the Contractor has repaid e loan in full under the terms of
paraqraph 8.13. above. The State shall be the sole insured of
this policy. The outstandinq loan amount payable to the State
shall be reduced in the amount of any payments made to the
State under this insurance coveraqe. If only a portion of the
outstanding loan amount 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.
16. Comply with the Construction Fund Program Procedures
attached hereto as Exhibit D and incorporated by reference
herein.
17. Coraply with the provisions of section 37-60-120,
Colorado Revised Statutes, and any other applicable statutes,
procedures, requirements, rules, or requlations which the State
has.
18. Not sell, convey, assiqn, grant, transfer. mortgaqe�
pledge, encumber, or otherwise dispose of the project or any
portion thereof, so lonq as any of the annual installments
required by paraqraph 8.13. above remain unpaid, without the
prior written concurrence of the State.
C. Upon default in the.payments herein set forth to be made by
the Contractor, or default in the performance of any covenant
or agreement contained herein, the State, at its option, may:
(a) declare the entire principal amount then outstandinq
immediately due and payable; (b) for the account of
the Contractor, incur and pay reasonable expenses for repair,
maintenance, and operation of the project herein described and
such expenses as may be necessary to cure the cause of default;
(c) take possession of the project, repair, maintain, and
operate or lease it; (d) act upon the security (described in
paraqraph B.14. above) conveyed to the State; (e) take action
to enforce paraqraphs B.11. and 13. above; and/or (f) take any
other appropriate leqal action. All remedies described herein
may be simultaneously. or selectively and successively
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