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C154238 Contract
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C154238 Contract
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Last modified
6/20/2016 10:56:45 AM
Creation date
6/20/2016 10:56:35 AM
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Loan Projects
Contract/PO #
C154238
Contractor Name
San Luis Valley Irrigation District
Contract Type
Grant
Loan Projects - Doc Type
Contract Documents
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M • <br /> C. Certificates <br /> Contractor and all Subcontractors shall provide certificates showing insurance coverage required hereunder <br /> to the State within seven business days of the Effective Date of this Contract.No later than 15 days prior to <br /> the expiration date of any such coverage, Contractor and each Subcontractor shall deliver to the State or <br /> Contractor certificates of insurance evidencing renewals thereof. In addition, upon request by the State at <br /> any other time during the term of this Contract or any subcontract, Contractor and each Subcontractor shall, <br /> within 10 days of such request, supply to the State evidence satisfactory to the State of compliance with the <br /> provisions of this§13. <br /> 14. BREACH <br /> A. Defined <br /> In addition to any breaches specified in other sections of this Contract,the failure of either Party to perform <br /> any of its material obligations hereunder, in whole or in part or in a timely or satisfactory manner, <br /> constitutes a breach. The institution of proceedings under any bankruptcy, insolvency,reorganization or <br /> similar law,by or against Contractor, or the appointment of a receiver or similar officer for Contractor or <br /> any of its property, which is not vacated or fully stayed within 20 days after the institution or occurrence <br /> thereof, shall also constitute a breach. <br /> B. Notice and Cure Period <br /> In the event of a breach, notice of such shall be given in writing by the aggrieved Party to the other Party in <br /> the manner provided in §16. If such breach is not cured within 30 days of receipt of written notice, or if a <br /> cure cannot be completed within 30 days,or if cure of the breach has not begun within 30 days and pursued <br /> with due diligence,the State may exercise any of the remedies set forth in §15.Notwithstanding anything <br /> to the contrary herein,the State, in its sole discretion, need not provide advance notice or a cure period and <br /> may immediately terminate this Contract in whole or in part if reasonably necessary to preserve public <br /> safety or to prevent immediate public crisis. <br /> 15. REMEDIES <br /> If Contractor is in breach under any provision of this Contract,the State shall have all of the remedies listed in <br /> this §15 in addition to all other remedies set forth in other sections of this Contract following the notice and cure <br /> period set forth in§14(B). The State may exercise any or all of the remedies available to it, in its sole discretion, <br /> concurrently or consecutively. <br /> A. Termination for Cause and/or Breach <br /> The State may terminate this entire Contract or any part of this Contract. Exercise by the State of this right <br /> shall not be a breach of its obligations hereunder. Contractor shall continue performance of this Contract to <br /> the extent not terminated, if any. <br /> i. Obligations and Rights <br /> To the extent specified in any termination notice, Contractor shall not incur further obligations or <br /> render further performance hereunder past the effective date of such notice,and shall terminate <br /> outstanding orders and subcontracts with third parties. However,Contractor shall complete and deliver <br /> to the State all Work, Services and Goods not cancelled by the termination notice and may incur <br /> obligations as are necessary to do so within this Contract's terms. At the sole discretion of the State, <br /> Contractor shall assign to the State all of Contractor's right,title,and interest under such terminated <br /> orders or subcontracts. Upon termination,Contractor shall take timely, reasonable and necessary <br /> action to protect and preserve property in the possession of Contractor in which the State has an <br /> interest. All materials owned by the State in the possession of Contractor shall be immediately <br /> returned to the State. All Work Product, at the option of the State, shall be delivered by Contractor to <br /> the State and shall become the State's property. <br /> ii. Payments <br /> The State shall reimburse Contractor only for accepted performance up to the date of termination. If, <br /> after termination by the State, it is determined that Contractor was not in breach or that Contractor's <br /> action or inaction was excusable,such termination shall be treated as a termination in the public <br /> interest and the rights and obligations of the Parties shall be the same as if this Contract had been <br /> terminated in the public interest, as described herein. <br /> Page 8 <br />
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