C153330 PIF Contract - Laserfiche WebLink

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10. Upon default in the payments herein set forth to be made by the Contractor, or in the.performarn.ce of any covenant or agreement . contained herein, the State, at its option, may (a) declare the entire principal amount then outstanding immediately due and payable,; (b) for the aq §ount of the Contractor incur and pay reasonable expeo, e ,_; for repair, maintenance, 4nd operat.ibl of th@ domestic water system herein described and such other reasonable expenses as may be necess�tly to cure the cause of default; and /or (c) take possession of the system, repair, maintain, and operate or lease it. The provisions of this contract may be enforced by the State, at its option without regard. to prior waivers by it of previous defaults by the Contractor, througi judicial proceedings to require specific performance of this contract or by such other proceedings in law or equity as may be deemed nec- essary by the State to insure compliance with provisions of this contract and the laws and regulation de ch this contract is made. B. The State agrees that it will: t, ,,V( 1. Make available to the Co X, to the purpose of this contract the sum of Nine Hundred nt Pe Thousand Seven Hundred. Twenty -Five Dollars ($979,725). Said a Hundred Seventy -Nine Thousand Seven Hundred Twenty -Five Do,!,s ($979,725) shall be made available to the Contractor in accord�oe with the following terms, schedule and conditions: a. Beginning with the monthly period commencing August L, 1979 and for every month thereafter until said project has beerl completed, the Contractor shall prepare with the consulting engineer's help an estimate of the funds required from the State for project construction during that month and shall forward said estimate to the State not less than fifteen (15) days prior to the beginning of such month. b. Upon receipt and approval by the State of such monthly estimate, the State will, within thirty (30) days from the receipt of such estimate, pay over to the Contractor the amoutit of the monthly estimate or such portion thereof as has been approved by the State. 2. Assist the Contractor with such technical assistance as the Stage deems appropriate in planning, constructing, and operating l.iile project and in coordinating the project with local official compre- hensive plans for sewer and water and with any state or area plar,.s for the area in which the project is located. 3. In its sole discretion, the State may at any time give an .y consent, deferment, subordination, release, satisfaction, or telml -All Lion of any or all of the Contractor's obligations under this agree ment, with or without valuable consideration, upon such terms and conditions as the State may determine to be (a) advisable to further - the purposes of this contract or to protect the State's financial interest therein, and (b) consistent with both the statutory purposo- of this contract and the limitations of the statutory authority urydei which it is made. 4. Upon completion of the payment of the full purchase price to the State in the sum of One Million Seven Hundred Thirty Thousand I -c� Hundred Dollars ($1,730,400) as set forth in paragraph A. 9. of thi,; contract, to convey to the Contractor all of the State's right, t:i +_ic and interest in and to the project by deed or other proper conveya.r)c ± Page 3 of 5 pages