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5.4. The maximum amount available for this grant Contract shall be $200,000 in fiscal year 2008. <br />6. Availability of Funds <br />This Contract is contingent upon the continuing availability of State appropriations as provided in Section 2 <br />of the Colorado Special Provisions, incorporated as a part of this Contract. The State is prohibited by law <br />from making fiscal commitments beyond the term of its current fiscal period. If Federal appropriations or <br />grants fund this Contract in whole or in part, the Contract is subject to and contingent upon the continuing <br />availability of appropriated Federal funds for this Contract. If State of Colorado or Federal funds are not <br />appropriated, or otherwise become unavailable to fund this Contract, the State may immediately terminate <br />the Contract in whole or in part without further liability. <br />PROCEDURES FOR AND OBLIGATIONS OF CONTRACT PERFORMANCE <br />7. Billing/Payment Procedure <br />7.1. The State shall establish billing procedures and pay Grantee the Contract price or rate for Services <br />performed, reviewed, and accepted pursuant to all the terms and conditions of this Contract, <br />including without limitation, performance, quality, milestones and completion requirements for <br />payment set forth in Exhibit A, Scope of Work, and the State's inspection and acceptance rights in <br />Section 8. Grantee shall submit invoices for payment on forms and provide requested <br />documentation in a manner prescribed or approved by the State. Payments pursuant to this Contract <br />shall be made as earned, in whole or in part, from available funds encumbered for the purchase of <br />the described Services. Incorrect payments by the State to Grantee due to omission, error, fraud, or <br />defalcation shall be recovered from Grantee by deduction from subsequent payments under this <br />Contract or other Contracts between the State and Grantee or collected as a debt due to the State. <br />7.2. Invoices and payments shall be mailed using the US Postal Service or other delivery service with a <br />properly addressed stamped envelop to the following addresses: <br />For the State: <br />Department of Natural Resources, Colorado Water Conservation Board <br />1313 Sherman Street, Suite 721 <br />Denver, CO 80203 <br />Attention: Rick Brown <br />For Grantee: <br />Colorado River Water Conservation District <br />P.O. Box 1120 <br />Glenwood Springs, CO 81602 <br />Attention: David H. Merritt, P.E. <br />7.3. The State shall make payment in full with respect to each invoice within forty-five (45) days of receipt <br />thereof; provided that the amount invoiced represents Services which have been accepted by the <br />State and the form of the invoice is acceptable to the State. Uncontested amounts not paid by the <br />State within forty-five (45) days shall bear interest on the unpaid balance beginning with the forty- <br />sixth (46th) day at a rate of one percent (1 %) per month until paid in full; provided, however, that no <br />interest shall accrue with respect to unpaid amounts for which the State has delivered to Grantee <br />notice of a good faith dispute. Grantee shall invoice the State separately for accrued interest on <br />delinquent amounts. The billing shall reference the delinquent payment, the number of day's interest <br />to be paid and the applicable interest rate. <br />Inspection and Acceptance <br />Page 3 of 15 <br />