Joint Front Range Climate Change Study Contract

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6. Availability of Funds This contract is contingent upon the continuing availability of State appropriations as provided in Section 2 of the Colorado Special Provisions, incorporated as a part of this contract. The State is prohibited by law from making fiscal commitments beyond the term of its current fiscal period. If Federal appropriations or grants fund this contract in whole or in part, the contract is subject to and contingent upon the continuing availability of appropriated Federal funds for this contract. If State of Colorado or Federal funds are not appropriated, or otherwise become unavailable to fund this contract, the State may immediately terminate the contract in whole or in part without further liability. PROCEDURES FOR AND OBLIGATIONS OF CONTRACT PERFORMANCE 7. Billing /Payment Procedure 7.1. The State shall establish billing procedures and pay Contractor the contract price or rate for Services performed, reviewed, and accepted or Goods delivered, inspected, and accepted pursuant to all the terms and conditions of this contract, including without limitation, performance, quality, milestones and completion requirements for payment set forth in Exhibit A, Statement of Work, and the State's inspection and acceptance rights in Section 8. Contractor shall submit invoices for payment on forms and provide requested documentation in a manner prescribed or approved by the State. Payments pursuant to this contract shall be made as earned, in whole or in part, from available funds encumbered for the purchase of the described Services and Goods. Incorrect payments by the State to Contractor due to omission, error, fraud, or defalcation shall be recovered from Contractor by deduction from subsequent payments under this contract or other contracts between the State and Contractor or collected as a debt due to the State. 7.2. Invoices and payments shall be mailed using the US Postal Service or other delivery service with a properly addressed stamped envelop to the address specified by the Contractor on form W -9 or other similar form and by the State in its billing procedures. 7.3. The State shall make payment in full with respect to each invoice within forty -five (45) days of receipt thereof; provided that the amount invoiced represents Goods and /or Services which have been accepted by the State and the form of the invoice is acceptable to the State. Uncontested amounts not paid by the State within forty -five (45) days shall bear interest on the unpaid balance beginning with the forty -sixth (46th) day at a rate of one percent (1 %) per month until paid in full; provided, however, that no interest shall accrue with respect to unpaid amounts for which the State has delivered to Contractor notice of a good faith dispute. Contractor shall invoice the State separately for accrued interest on delinquent amounts. The billing shall reference the delinquent payment, the number of day's interest to be paid and the applicable interest rate. 8. Inspection and Acceptance The State reserves the right to inspect Services and Goods provided under this contract at all reasonable times and places during the term of this contract, including any extensions. If any of the Services or Goods does not conform to contract requirements, the State may require Contractor to promptly perform the Services or provide Goods again in conformity with contract requirements, at no additional cost to the State. When defects in the quality or quantity of Services and Goods cannot be corrected by re- performance, the State may: (a) require Contractor to take necessary action to ensure that future performance conforms to this contract requirements; and (b) equitably reduce the payment due to Contractor to reflect the reduced value of the Services performed or Goods provided. These remedies shall in no way limit the remedies available to the State in other provisions of this contract or remedies otherwise available in equity or at law, all of which may be exercised by the State, at its option, in lieu of or in conjunction with the preceding measures. Furthermore, the reduction, delay or denial of payment under this provision shall not constitute a breach of contract or default by the State. Page 3 of 13 04 -11 -07