C153335 PIF Contract

• Contract/PO #: C153335
• Contractor Name: Rifle, City of
• Contract Type: Loan
• Water District: 38
• County: Garfield
• Loan Projects - Doc Type: Contract Documents

installment shall be due and payable on November 1, 1982 and yearly
thereafter until the entire principal sum shall have been paid.
Said installment payment shall be made payable to the Colorado Water
Conservation Board, payable at the offices of said Board in Denver,
Colorado.
B. Upon default in the payments herein set forth to be made by the
Contractor, or in the performance 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 account of the Contractor incur and pay reasonable
expenses for repair, maintenance, and operation of the water supply
system herein described and such other reasonable expenses as may be
necessary 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, through judicial proceedings to require specific
performance of this contract or by such other proceedings in law
or equity as may be deemed necessary by the State to insure compliance
with provisions of this contract and the laws and regulations under
which this contract is made.
C. The State agrees that it will:
1. Make available to the Contracto for the purpose of this contract
the sum of Three Hundred Thousand rs ($300,000). Said Three
Hundred Thousand Dollars ($300,0 11 ade available to the
Contractor in accordance with Prepare rms and conditions:
a. Beginning with the mon y commencing November 1, 1980
and for every month thereaft r said project has been
completed, the Contractor 1 with the consulting
engineer's help an estim the funds required from the
State for project constru on 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 forty (40) days from the
receipt of such estimate, pay over to the Contractor the
amount 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
State deems appropriate in planning, constructing, and operating
the project and in coordinating the project with.local official
comprehensive plans for sewer and water and with any State or area
plans for the area in'which the project is located.
D. in its sole discretion, the State may at any time give any
consent,deferment, subordination, release, satisfaction, or termina-
tion of any or all of the Contractor's obligation 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 herein, and (b) consistent with both the statutory purposes
of this contract and the limitations of the statutory authority under
which it is made.
77 c:ompicticn
State in the sum of
($606,240) as set f
agrees to convey to
and interest in and
of the payment of the fill1 rt1#frha.Re price to the
Six Hundred Six Thousand Two Hundred Forty Dollars
arth in paragraph A.9. of this contract, the State
the Contractor all of the State's right, title,
to the project by deed or other proper conveyance.
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