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b. The balance of the State's share, not to exceed Ten Thousand Dollars <br /> ($10,000), shall be paid within thirty (30) days following receipt and acceptance <br /> by the State of the final report specified in paragraph 2. <br /> 6. In consideration of the State assuming a portion of the cost of the preparation <br /> of the study the contractor agrees to the following repayment obligation: <br /> a. If construction on any water project identified by the study is not initiated <br /> by the contractor within ten (10) years of the date of the completion of the <br /> study, then the contractor shall have no repayment obligation to the Board. <br /> b. If construction on any water project identified by the study is initiated by <br /> the contractor within ten (10) years of the date of the completion of the study, <br /> then: <br /> (1) the One Hundred Thousand Dollars ($100,000) shall be repaid to the <br /> Board at the time when construction on the project commences, with <br /> interest at five percent (5%) per annum from the date when the final <br /> payment under this contract was made to the Contractor, or <br /> (2) if the project is subsequently authorized by the Colorado General <br /> Assembly and constructed by the contractor with funds provided by the <br /> Board, then the One Hundred Thousand Dollars ($100,000) shall be <br /> included in the total amount authorized for construction and shall be repaid <br /> to the Board pursuant to the terms of that authorization. <br /> 7. This contract is personal in nature and assignment of performance by the <br /> Contractor to another is prohibited unless prior approval in writing is granted by the <br /> State. <br /> 8. The Contractor is an independent Contractor and as such is not entitled to any <br /> benefits of the State personnel system. <br /> 9. The Contractor warrants that it has not employed or retained any company or <br /> person, other than a bona fide employee working solely for it, to solicit or secure this <br /> contract and that it has not paid or agreed to pay any person, company, corporation, <br /> individual, or firm, other than a bona fide employee working solely for it, any fee, <br /> commission, percentage, gift, or other consideration contingent upon or resulting from <br /> the award or the making of this contract. <br /> Page 3 of 6 pages <br />