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H. This agreement is intended as the complete integration of all understandings <br /> between the parties. No prior or contemporaneous addition, deletion, or other <br /> amendment hereto shall have any force or effect whatsoever unless embodied herein in <br /> writing. No subsequent notation, renewal, addition, deletion, or other amendment <br /> hereto shall have any force or effect unless embodied in a written contract executed <br /> and approved pursuant to State fiscal rules. <br /> I. In its sole discretion, the State may at any time and in writing give any consent, <br /> deferment, subordination, release, satisfaction, or termination of any or all of the <br /> Contractor's obligations under this agreement, with or without valuable consideration, <br /> upon such terms and conditions as the State may determine to be: (a) advisable to <br /> further the purposes of this contract or to protect the State's financial interest therein, <br /> and (b) consistent with both the statutory purposes of this contract and the limitations <br /> of the statutory authority under which it is made. <br /> J. Upon completion of repayment to the State in the amount of One Million One <br /> Hundred Twenty Thousand One Hundred Seventy-Five Dollars ($1,120,175), as set <br /> forth in paragraph B.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 to the project and any other <br /> property described in paragraph B.14. above by deed or other proper conveyance. <br /> K. The Colorado Water Conservation Board, its agents and employees, is hereby <br /> designated as the agent of the State for the purpose of this contract. <br /> L. The Contractor agrees and understands that Sections 37-60-119 through <br /> 37-60-122, C.R.S. (as amended), require that the loan of money by the State to the <br /> Contractor for this water project be conditioned upon the repayment of the loan to the <br /> State. The Contractor hereby agrees to take any and all actions necessary to guarantee <br /> such repayment as provided herein including, without being limited to, the actions <br /> specified in this contract. <br /> M. The Contractor agrees that the revenues to be pledged to repay the State shall <br /> include, without being limited to, operational profits or increased share contributions by <br /> the Limited Partners. The Contractor hereby pledges such revenues to repay the State <br /> loan. <br /> N. The Contractor warrants that it has duly passed, or will pass, a Resolution <br /> (Exhibit C) by its Board of Directors, as provided in its By-Laws, authorizing: the <br /> Contractor to enter into this contract with the State to borrow the principal sum of <br /> Seven Hundred Thousand Dollars ($700,000); to make and levy assessment(s) sufficient <br /> to pay off this contract loan pursuant to its terms and to discharge this lawful <br /> indebtedness; to set aside this assessment revenues in a special fund separate and apart <br /> from other Contractor revenues to assure repayment of this revenue to the State; and <br /> to sign a security interest in such assessment revenues in favor of the State to secure <br /> Page 9 of 12 Pages <br />