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<br /> I
<br /> acts of its agents, employees, servants, engineering firms,
<br /> construction firms, and subcontractors during the performance
<br /> of this contract.
<br /> F. At all times during the performance of this contract, the
<br /> Contractor shall strictly adhere to all applicable ederal,
<br /> State, and local laws and regulations that have bee r may
<br /> hereafter be established.
<br /> G. This agreement is intended as the complete` Ve• ratio '4
<br /> all understandings between the parties . No p . oi o .`'
<br /> contemporaneous addition, deletion, or other ame "d , =''" :`
<br /> shall have any force or effect whatsoever unless embo• , -.,
<br /> herein in writing. No subsequent notation, renewal, add
<br /> 4;
<br /> deletion, or other amendment hereto shall have any force or
<br /> effect unless embodied in a written contract executed and
<br /> approved pursuant to State fiscal rules.
<br /> H. In its sole discretion, the State may at any time and in
<br /> writing give any consent, deferment, subordination, release,
<br /> satisfaction, or termination of any or all of the Contractor ' s
<br /> obligations under this agreement, with or without valuable
<br /> consideration, upon such terms and conditions as the State may
<br /> determine to be: (a) advisable to further the purposes of this
<br /> contract or to protect the State ' s financial interest therein,
<br /> and (b) consistent with both the statutory purposes of this
<br /> contract and the limitations of the statutory authority under
<br /> which it is made.
<br /> I . Upon completion of repayment to the State in the amount of
<br /> One Hundred Fifteen Thousand Two Hundred Ninety-Three Dollars
<br /> and Seventy-Five Cents ($115, 293 .75) , as set forth in paragraph
<br /> A. 13 . above of this contract, the State agrees to convey to the
<br /> Contractor all of the State ' s right, title, and interest in and
<br /> to the project and any other property described in paragraph
<br /> A.14. above by deed or other proper conveyance.
<br /> J . The Colorado Water Conservation Board, its agents and
<br /> employees, is hereby designated as the agent of the State for
<br /> the purpose of this contract.
<br /> K. The Contractor agrees and understands that sections
<br /> 37-60-119 through 37-60-122, C.R.S. , as amended, require that
<br /> the loan of money by the State to the Contractor for this water
<br /> project be conditioned upon the repayment of the loan to the
<br /> State. The Contractor hereby agrees to take any and all
<br /> actions necessary to guarantee such repayment as provided
<br /> herein including, without being limited to, the actions
<br /> specified in this contract.
<br /> L. The Contractor agrees that the specific revenues to be
<br /> pledged to repay the State shall include, without being limited
<br /> to, an assessment levied for that purpose as authorized by
<br /> Resolution of the Contractor . The Contractor hereby pledges
<br /> such assessment revenues to repay the State loan, warrants that
<br /> these revenues will not be used for any other purpose, and
<br /> agrees to provide the State a perfected security interest in
<br /> the form provided by the State irrevocably pledging such
<br /> revenues on the date of execution of this contract.
<br /> M. The Contractor warrants that it has duly passed, or will
<br /> pass, a Resolution (Exhibit A) by its Board of Directors, as
<br /> provided in its By-laws, authorizing: the Contractor to enter
<br /> into this contract with the State to borrow the principal sum
<br /> of Sixty-Five Thousand Dollars ($65,000) ; to levy, and pledge
<br /> assessment(s) sufficient to pay off this contract loan pursuant
<br /> to its terms and to discharge this lawful indebtedness; to set
<br /> aside this assessment revenue in a special fund separate and
<br /> Illii apart from other Contractor revenues to assure repayment of
<br /> this revenue to the State; and to sign a security interest in
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