Laserfiche WebLink
10. To purchase from the State all of the State's right, title, <br />and interest in said project and any facilities thereof at a total <br />purchase price of One Million One Hundred Forty -Seven Thousand Nine <br />Hundred Twenty Dollars ($1,147,920), payable in thirty (30) annual <br />installments of Thirty -Eight Thousand Two Hundred Sixty -Four Dollars <br />($38,264) each, which first installment shall be due and payable on <br />August 1, 1981, and yearly thereafter until the _.entire principal sum <br />shall have been paid. Said installment payment shall be made payable <br />to the Colorado Water Conservation Board, payable at the offices of <br />said board in Denver, Colorado. <br />11. Upon default in the payments herein set forth to be made by <br />the Contractor, or in the performance of any covenant or agreement <br />contained herein, the State, at its option, may (a) declare the entire <br />principal amount then outstanding immediately due and payable; (b) for <br />the account of the Contractor incur and pay reasonable expenses for <br />repair, maintenance, and operation of the domestic water system.hereTn <br />described and such other reasonable expenses as may be necessary to <br />cure the cause of default; and /or (c) take possession of the system, <br />repair, maintain, and operate or lease it. The provisions of this <br />contract may be enforced by the State, at i option without regard <br />to prior waivers by it of previous defaul the Contractor, through <br />judicial proceedings to require specifi m f this contract <br />or by such other proceedings in law or a deemed nec- <br />essary by the State to insure complia th ions of this <br />contract and the laws and regulations er this contract is <br />made. <br />B. The State agrees that it will: <br />1. Make available to the Contractor for the purpose of this <br />contract the sum of Seven Hundred Thirty -Eight Thousand Seventy -Five <br />Dollars ($738,075). Said Seven Hundred Thirty -Eight Thousand Seventy - <br />Five Dollars ($738,075) shall be made available to the Contractor in <br />accordance with the following terms, schedule and conditions: <br />a. Beginning with the monthly period commencing September 1, <br />1979 and for every month thereafter until said project has <br />been completed, the Contractor shall prepare with the <br />consulting engineer's help an estimate of the funds required <br />from the State for project construction during that month <br />and shall forward said estimate to the State not less than <br />fifteen (15) days prior to the beginning of such month. <br />b. Upon receipt and approval by the State of such monthly <br />estimate, the State will, within thirty (30) days from the <br />receipt of such estimate, pay over to the Contractor the <br />amount of the monthly estimate or such portion thereof as <br />has been approved by the State. <br />2. Assist the Contractor with such technical assistance as the <br />State deems appropriate in planning, constructing, and operating the <br />project and in coordinating the project with local official compre- <br />hensive plans for sewer and water and with any state or area plans for <br />the area in which the project is located. <br />3. In its sole discretion, the State may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termina- <br />tion of any or all of the Contractor's obligations under this agree- <br />ment, with or without valuable consideration, upon such terms and <br />conditions as the State may determine to be (a) advisable to further <br />the purposes of this contract or to protect the State's financial <br />interest therein, and (b) consistent with both the statutory purposes <br />of this contract and the limitations of the statutory authority under <br />which it is made. <br />Page 3 of 6 pages <br />