C153467 PIF Contract

• Contract/PO #: C153467
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 0
• County: Weld
• Bill Number: XB 99-999
• Loan Projects - Doc Type: Contract Documents

was derived by adding a five percent (58) per annum charge to
the fifty percent (50 %) payment of Twenty -Six Thousand Six
Hundred Forty Dollars ($26,640) actually made by the State to
the Contractor for Comanche Dam; and
WHEREAS, rather than repay this amount pursuant to
Paragraphs 5. and 6. of the Original Contract, the Contractor
desires to include that repayment of the State's share of the
feasibility report for the Comanche Dam with the Contractor
repayment of the construction loan for the rehabilitation of
said dam as provided in a proposed Project Contract; and
WHEREAS, pursuant to Senate Bill No. 15, Fifty -Sixth
General Assembly of the State of Colorado, duly enacted into
law, the Colorado Water Conservation Board has been authorized
to enter into a Project Contract to loan a sum not to exceed
Eight Hundred Sixty -Two Thousand Five Hundred Dollars
($862,500) for the rehabilitation of Comanche Dam, which
includes Twenty -Six Thousand Six Hundred and Forty Dollars
($26,640) as the State's share of the feasibility report for
Comanche Dam, as shown in Exhibit B of Original Contract;
and
WHEREAS, the parties desire to th i nal Contract
to provide for these changes. ¢�
NOW, THEREFORE, it is hereby agree, t
1.
This Contract Amendment isap,s,�plement to the Original
Contract, Attachment A. whicd° s by this reference
incorporated and made a part hereof, and all the terms,
conditions and provisions thereof, unless specifically
modified herein, are to apply to this Contract
Amendment as though they were expressly rewritten,
incorporated. and included herein.
2. The language in Paragraph 5. of the Original Contract
shall be deleted and the following language shall be
inserted as the amended Paragraph 5:
In consideration of the State assuming a
certain portion of the cost of the preparation
of the Peterson Dam and Twin Lakes Dam
feasibility reports, the Contractor shall pay
to the State the sum of Fifty -Four Thousand Two
Hundred Eighty -Six Dollars and Forty Cents
($54,286.40) provided that construction of the
subject water projects are initiated within ten
(10) years of the date of this contract. The
Contractor shall fulfill this obligation
irrespective of how or by whom or to what
specifications or plans the subject projects
are financed, paid, or constructed for so long
as construction of the projects is initiated
within the specified time.
3. The language in Paragraph 6. of the Original Contract
shall be deleted, and the following language shall be
inserted as the amended Paragraph 6:
In the event the Contractor must make payment
pursuant to the terms of Paragraph S. above,
then the said sum of Fifty -Four Thousand Two
Hundred Eighty -Six Dollars and Forty. Cents
($54,286.40) shall be payable in ten (10)
equal yearly installments of Five Thousand
Four Hundred Twenty -Eight Dollars and Sixty
Four Cents ($5,428.64) each, the first
installment to be due and payable upon the
January 1st next succeeding the initiation of
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