Gunnison - Lone Cabin Ditch & Reservoir - Dam Rehabilitation_C150529 Contract

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i. Advance,Iterim and Final Payments Any payment allowed under this Grant or in Exhibit A shall comply with State Fiscal Rules and be made in accordance with the provisions of this Grant or such Exhibit. Grantee shall initiate any payment requests by submitting invoices to the State in the form and manner set forth and approved by the State. ii. Interest The State shall fully pay each invoice within 45 days of receipt thereof if the amount invoiced represents peformance by Grantee previously accepted by the State. Uncontested amounts not paid by the State within 45 days may, if Grantee so requests,bear interest on the unpaid balance beginning on the 46th day at a rate not to exceed one percent per month until paid in full; provided,however,that interest shall not accrue on unpaid amounts that are subject to a good faith dispute. Grantee shall invoice the State separately for accrued interest on delinquent amounts. The billing shall reference the delinquent payment,the number of day's interest to be paid and the interest rate. iii. Available Funds-Contingency-Termination The State is prohibited by law from making fiscal commitments beyond the term of the State's current fiscal year. Therefore, Grantee's compensation is contingent upon the continuing availability of State appropriations as provided in the Colorado Special Provisions, set forth below. If federal funds are used with this Grant in whole or in part,the State's performance hereunder is contingent upon the continuing availability of such funds. Payments pursuant to this Grant shall be made only from available funds encumbered for this Grant and the State's liability for such payments shall be limited to the amount remaining of such encumbered funds. If State or federal funds are not appropriated,or otherwise become unavailable to fund this Grant,the State may immediately terminate this Grant in whole or in part without further liability in accordance with the provisions herein. iv. Erroneous Payments At the State's sole discretion,payments made to Grantee in error for any reason, including,but not limited to overpayments or improper payments, and unexpended or excess funds received by Grantee, may be recovered from Grantee by deduction from subsequent payments under this Grant or other Grants, grants or agreements between the State and Grantee or by other appropriate methods and collected as a debt due to the State. Such funds shall not be paid to any party other than the State. B. Use of Funds Grant Funds shall be used only for eligible costs identified herein and/or in the Budget. The State's total consideration shall not exceed the maximum amount shown herein. 8. REPORTING—NOTIFICATION Reports,Evaluations,and Reviews required under this§8 shall be in accordance with the procedures of and in such form as prescribed by the State and in accordance with§19, if applicable. A. Performance,Progress,Personnel,and Funds State shall submit a report to the Grantee upon expiration or sooner termination of this Grant,containing an Evaluation and Review of Grantee's performance and the final status of Grantee's obligations hereunder. In addition,Grantee shall comply with all reporting requirements, if any, set forth in Exhibit A and Exhibit B. B. Litigation Reporting Within 10 days after being served with any pleading in a legal action filed with a court or administrative agency,related to this Grant or which may affect Grantee's ability to perform its obligations hereunder, Grantee shall notify the State of such action and deliver copies of such pleadings to the State's principal representative as identified herein. If the State's principal representative is not then serving, such notice and copies shall be delivered to the Executive Director of the Colorado Department of Natural Resources. C. Performance Outside the State of Colorado and/or the United States Following the Effective Date, Grantee shall provide written notice to the State, in accordance with§16 (Notices and Representatives),within 20 days of the earlier to occur of Grantee's decision to perform, or Page 4 of 16