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B. Consideration <br />The Parties acknowledge that the mutual promises and covenants contained herein and other good and <br />valuable consideration are sufficient and adequate to support this Contract. <br />C. Purpose <br />The State has a need to revise its Statewide drought vulnerability assessment. <br />D. References <br />All references in this Contract to sections (whether spelled out or using the § symbol), subsections, exhibits <br />or other attachments, are references to sections, subsections, exhibits or other attachments contained herein <br />or incorporated as a part hereof, unless otherwise noted. <br />4. DEFINITIONS <br />The following terms as used herein shall be construed and interpreted as follows: <br />A. Budget <br />"Budget" means the budget for the Work described in Exhibit B. <br />B. Contract <br />"Contract" means this Contract, its terms and conditions, attached exhibits, documents incorporated by <br />reference under the terms of this Contract, and any future modifying agreements, exhibits, attachments or <br />references incorporated herein pursuant to Colorado State law, Fiscal Rules, and State Controller Policies. <br />C. Contract Funds <br />"Contract Funds" means funds available for payment by the State to Contractor pursuant to this Contract. <br />D. Evaluation <br />"Evaluation" means the process of examining Contractor's Work and rating it based on criteria established <br />in §6 and Exhibit A. <br />E. Exhibits and other Attachments <br />The following are attached hereto and incorporated by reference herein: Exhibit A (Statement of Work), <br />Exhibit B (Prices and Rates). <br />F. Goods <br />"Goods" means tangible material acquired, produced, or delivered by Contractor either separately or in <br />conjunction with the Services Contractor renders hereunder. <br />G. Party or Parties <br />"Party" means the State or Contractor and "Parties" means both the State and Contractor. <br />H. Review <br />"Review" means examining Contractor's Work to ensure that it is adequate, accurate, correct and in <br />accordance with the criteria established in §6 and Exhibit A. <br />I. Services <br />"Services" means the required services to be performed by Contractor pursuant to this Contract. <br />J. Subcontractor <br />"Subcontractor" means third - parties, if any, engaged by Contractor to aid in performance of its obligations. <br />K. Work <br />"Work" means the tasks and activities Contractor is required to perform to fulfill its obligations under this <br />Contract and Exhibit A, including the performance of the Services and delivery of the Goods. <br />L. Work Product <br />"Work Product" means the tangible or intangible results of Contractor's Work, including, but not limited <br />to, software, research, reports, studies, data, photographs, negatives or other finished or unfinished <br />documents, drawings, models, surveys, maps, materials, or work product of any type, including drafts. <br />5. TERM and EARLY TERN UNATION <br />A. Intial Term -Work Commencement <br />The Parties' respective performances under this Contract shall commence on the later of either the <br />Effective Date. This Contract shall terminate on September 30, 2010 unless sooner terminated or further <br />extended as specified elsewhere herein. <br />Page 2 of 15 <br />