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ii. Interest <br />The State shall fully pay each invoice within 45 days of receipt thereof if the amount invoiced <br />represents peformance by Grantee previously accepted by the State. Uncontested amounts not paid by <br />the State within 45 days may, if Grantee so requests, bear interest on the unpaid balance beginning on <br />the 46`�' day at a rate not to exceed one percent per month until paid in full; provided, however, that <br />interest shall not accrue on unpaid amounts that are subject to a good faith dispute. Grantee shall <br />invoice the State separately far accrued interest on delinquent amounts. The billing shall reference the <br />delinquent payment, the number of day's interest to be paid and the interest rate. <br />iii. Available Funds-Contingency-Termination <br />The State is prohibited by law from making fiscal commitments beyond the tenn of the State's current <br />fiscal year. Therefore, Grantee's compensation is contingent upon the conti��uing availability of State <br />appropriations as provided in the Colorado Special Provisions, set forth below. If federal funds are <br />used with this Grant in whole or in part, the State's performance hereunder is contingent upon the <br />continuing availability of such funds. Payments pursua��t to this Grant shall be made only from <br />available funds encumbered for this Grant and the State's liability for such payments shall be limited <br />to the amount remaining of such encumbered funds. If State or federal funds are not appropriated, or <br />otherwise become unavailable to fund this Grant, the State may immediately terminate this Grant in <br />whole or in part without further liability in accordance with the provisions herein. <br />iv. Erroneous Payments <br />At the State's sole discretion, payments made to Grantee in error for any reason, including, but not <br />limited to overpayments or improper payments, and unexpended or excess funds received by Grantee, <br />may be recovered from Grantee by deduction from subsequent payments under this Grant or other <br />Grants, grants or agreements between the State and Grantee or by other appropriate methods and <br />collected as a debt due to the State. Such funds shall not be paid to any party other than the State. <br />B. Use of Funds <br />Grant Funds shall be used only for eligible costs identified herein and/or in the Budget. The State's total <br />consideration shall not exceed the maximum amount shown herein. <br />8. REPORTING — NOTIFICATION <br />Reports, Evaluations, and Reviews required under this §8 shall be in accordance with the procedures of and in <br />such form as prescribed by the State and in accordance with §19, if applicable. <br />A. Performance, Progress, Personnel, and Funds <br />Grantee shall submit a report to the State upon expiration or sooner termination of this Grant, containing an <br />Evaluation and Review of Grantee's performance and the final status of Grantee's obligations hereunder. In <br />addition, Grantee shall comply with all reporting requirements, if any, set forth in Exhibit A and Exhibit <br />B. <br />B. Litigation Reporting <br />Within 10 days after being served with any pleading in a legal action filed with a court or administrative <br />agency, related to this Grant or which may affect Grantee's ability to perform its obligations hereunder, <br />Grantee shall notify the State of such action and deliver copies of such pleadings to the State's principal <br />representative as identified herein. If the State's principal representative is not then serving, such notice and <br />copies shall be delivered to the Executive Director of the Colorado Department of Natural Resources. <br />C. Noncompliance <br />Grantee's failure to provide reports and notify the State in a timely manner in accordance with this §8 may <br />result in the delay of payment of funds and/or termination as provided under this Grant. <br />D. SubGrants <br />Copies of any and all subGrants entered into by Grantee to perform its obligations hereunder shall be <br />submitted to the State or its principal representative upon request by the State. Any and all subGrants <br />entered into by Grantee related to its performance hereunder shall comply with all applicable federal and <br />state laws and shall provide that such subGrants be governed by the laws of the State of Colorado. <br />9. GRANTEE RECORDS <br />Grantee shall make, keep, maintain and allow inspection and monitoring of the following records: <br />Page 4 of 16 <br />