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9. To purchase from the State all of the State ' s right, title,
<br /> and interest in said project and any facilities thereof at a total
<br /> purchase price of Four Hundred Thirty-Two Thousand Six Hundred Dollars
<br /> ($432, 600) , payable in forty (40) annual installments of Ten Thousand
<br /> Eight Hundred Fifteen Dollars ($10, 815) each, which first installment
<br /> shall be due and payable on October 1, 1981, and yearly thereafter
<br /> until the entire principal sum shall have been paid. Said installment
<br /> payment shall be made payable to the Colorado Water Conservation
<br /> Board, payable at the offices of said board in Denver, Colorado.
<br /> 10. Upon default in the payments herein set forth to be made by
<br /> the Contractor, or in the performance of any covenant or agreement
<br /> contained herein, the State, at its option, may (a) declare the entire
<br /> principal amount then outstanding immediately due and payable; (b) for
<br /> the account of the Contractor, incur and pay reasonable expenses for
<br /> repair, maintenance, and operation of the domestic water system herein
<br /> described and such other reasonable expenses as may be necessary to
<br /> cure the cause of default; and/or (c) take possession of the system,
<br /> repair, maintain, and operate or lease it. The provisions of this
<br /> contract may be enforced by the State, at its option without regard
<br /> to prior waivers by it of previous defaults by the Contractor, through
<br /> judicial proceedings to require specific performance of this contract
<br /> or by such other proceedings in law or equity as may be deemed
<br /> necessary by the State to insure compliance with provisions of this
<br /> contract and the laws and regulations under which this contract is
<br /> made.
<br /> B. The State agrees that it will :
<br /> 1. Make available to the Contractor for the purpose of this
<br /> contract the sum of Two Hundred Forty-Seven Thousand Eight Hundred
<br /> Dollars ($247 , 800) . Said Two Hundred Forty-Seven Thousand Eight
<br /> Hundred Dollars ($247, 800) shall be made available to the Contractor
<br /> in accordance with the following terms, schedule, and conditions :
<br /> a. Beginning with the monthly period commencing September 15,
<br /> 1979, and for every month thereafter until said project has been
<br /> completed, the Contractor shall prepare with the consulting
<br /> engineer ' s help an estimate of the funds required from the State
<br /> for project construction during that month and shall forward said
<br /> estimate to the State not less than fifteen (15) days prior to
<br /> the beginning of such month.
<br /> b. Upon receipt and approval by the State of such monthly
<br /> estimate, the State will, within forty (40) days from the receipt
<br /> of such estimate, pay over to, the Contractor the amount of the
<br /> monthly estimate or such portion thereof as has been approved by
<br /> the State.
<br /> 2. Assist the Contractor with such technical assistance as the
<br /> State deems appropriate in planning, constructing, and operating the
<br /> project and in coordinating the project with local official compre-
<br /> hensive plans for sewer and water and wit - y state or area plans for
<br /> the area in which the project is located. i ), c ,,.
<br /> 3. In its sole discretion, thet..te may ime give any
<br /> consent, deferment, subordination, satisfa ion, or termina-
<br /> tion of any or all of the Contracto ' : �-,�1 t under this agree-
<br /> ment, with or without valuable consider.ti, i , u terms and
<br /> conditions as the State may determine to be'' (4., d i ..:,.le to further
<br /> the purposes of this contract or to protect the S c '� "financial
<br /> interest therein and (b) consistent with both the statutory purposes
<br /> of this contract and the limitations of the statutory authority under
<br /> which it is made.
<br /> 4. Upon completion of the payment of the full purchase price to
<br /> the State in the sum of Four Hundred Thirty-Two Thousand Six Hundred
<br /> Dollars ($432, 600) as set forth in paragraph A. 9. of this contract,
<br /> to convey to the Contractor all of the State ' s right, title, and
<br /> interest in and to the project by deed or other proper conveyance.
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