Colorado - Grand County Stream Flow Mgmt Plan Phase III_Contract

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The Parties respective performances under this Grant shall commence on the later of either the Effective Date or March 1, 2010. This Grant shall terminate on June 30, 2011 unless sooner terminated or further extended as specified elsewhere herein. 6. STATEMENT OF WORK A. Completion Grantee shall complete the Work and its other obligations as described herein and in Eahibit A on or before June 30, 2011. The State shall not be liable to compensate Grantee for any Work performed prior to the Effective Date or after the termination of this Grant. B. Goods and Services Grantee shall procure Goods and Services necessary to complete the Work. Such procwement shall be accomplished using the Grant Funds and sha11 not increase the ma�cimum amount payable hereunder by the State. C. Employees All persons employed by Grantee or Sub-grantees shall be considered Grantee's or Sub-grantees' employee(s) for all purposes hereunder and shall not be employees of the State for any purpose as a result of this Grant. 7. PAYMENTS TO GRANTEE The State shall, in accordance with the provisons of this §7, pay Grantee in the following amounts and using the methods set forth below: A. Maaimum Amount The maximum amount payable under this Grant to Grantee by the State is $100,000, as determined by the State from available funds. Grantee agrees to provide any additional funds required for the successful completion of the Work. Payments to Grantee are limited to the unpaid obligated balance of the Grant as set forth in Ezhibit A. 'The ma�cimum amount payble by the State to Grantee during each State fiscal year of this Grant shall be: $100,000 in FY2010 $100,000 in FY2011, minus any funds ezpended in FY2010 i. Advance, Iterim and Final Payments Any payment allowed under this Grant or in Ezhibit A shall comply with State Fiscal Rules and be made in accordance with the provisions of this Grant or such Exhibit. Grantee shall initiate any payment requests by submitting invoices to the State in the form and manner set forth and approved by the State. ii. Interest The State shall fully pay each invoice within 45 days of receipt thereof if the amount invoiced represents peformance by Grantee previously accepted by the State. Uncontested amounts not paid by the State within 45 days may, if Grantee so requests, bear interest on the unpaid balance beginning on the 46th day at a rate not to exceed one percent per month until paid in full; provided, however, that interest shall not accrue on unpaid amounts that are subject to a good faith dispute. Grantee 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 interest rate. iii. Available Funds-Contingency-Termination The Sta.te is prohibited by law from making fiscal commitments beyond the term of the State's current fiscal year. Therefore, Grantee's compensation is contingent upon the continuing availability of Sta.te appropriations as provided in the Colorado Special Provisions, set forth below. If federal funds are used with this Grant in whole or in part, the State's performance hereunder is contingent upon the continuing availability of such funds. Payments pursuant to this Grant shall be made only from available funds encumbered for this Grant and the State's liability for such payments shall be limited to the amount remaining of such encumbered funds. If State or federal funds are not appropriated, or Page 3 of 15