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maintain general liability insurance covering its management , <br /> operation, and maintenance of the project system until it has <br /> completed purchase of the project system from the State in at <br /> least the following amounts: <br /> a. For any injury to one person in any single <br /> occurrence , the sum of One Hundred Fifty Thousand <br /> Dollars ($150,000) . <br /> b. For any injury to two or more persons in any <br /> single occurrence , the sum of Four Hundred Thousand <br /> Dollars ($400,000) . <br /> Said liability insurance shall name the State as a <br /> co-insured. A copy of a certificate of said liability <br /> insurance must be filed with the Colorado Water Conservation <br /> Board prior to the start of the operation of the project <br /> system. <br /> 8 . Make the services of said project available within its <br /> capacity to all persons in the Contractor ' s service area <br /> without discrimination as to race, color, religion, or natural <br /> origin at reasonable charges including assessments , taxes , or <br /> fees in accordance with a schedule of such charges, whether for <br /> one or more classes of service , formally adorpted by the <br /> Contractor through its board of directors, as may be modified <br /> from time to time by the Contractor . The initial rate schedule <br /> must be approved by the State. Thereafter, the Contractor may , <br /> subject to the approval of the State , make such modifications <br /> to the rate schedule as the Contractor deems necessary to <br /> efficiently and economically provide for the financial <br /> requirements of the system as long as the rate schedule remains <br /> reasonable and non-discriminatory . <br /> 9 . Adjust its operating costs and service charges from <br /> time to time to provide for adequate operation and maintenance , <br /> emergency repair services , obsolescence reserves , and debt <br /> reserves. <br /> 10. Expand the system from time to time to meet reasonable <br /> growth or service requirements in the area within its <br /> jurisdiction. <br /> i <br /> 11 . Provide the State with such ' 'd • ice. orts as it may <br /> require and permit periodic inspecti a. ", ojerat ions and <br /> accounts by a designated representa e4+ : ate. <br /> 12 . Purchase from the Stat - . `1 o�rr!!�! t te ' sright , <br /> . <br /> title , and interest in said prq; e nd,1 n fl4li les thereof <br /> at a total purchase price of Four' H o d �i 'h - ,Oup Thousand <br /> Five Hundred Twelve Dollars ( $484, 512 ) paya e" 't*^~f`trtty ( 40 ) <br /> annual installments of Twelve Thousand One Hundred Twelve <br /> Dollars and Eighty Cents ( $12 , 112 .80) each , which first <br /> installment shall be due and payable on September 1 , 1983, and <br /> yearly thereafter until the entire principal sum shall have <br /> been paid. Said installment payments shall be made payable to <br /> the Colorado Water Conservation Board , payable at the offices <br /> of said Board in Denver , Colorado . <br /> 13 . Obtain and maintain general fire and hazard insurance <br /> on the project system in an amount not less than the amount <br /> nw ; nC to the Stat- f`... ;-,,,v._ch ,JA„ of t +e pro erect <br /> .int i Z <br /> he Contractor has purchasedt_. e <br /> '" the project system. The State <br /> shall be the sole insured of this policy . The purchase price <br /> payable to the State shall be reduced in the amount of any <br /> payments made to the State under this insurance coverage ; if <br /> only a portion of the purchase price is paid to the State under <br /> this policy, the number of installment payments shall remain <br /> unchanged, however the amount of each payment shall be <br /> reduced. <br /> 1 <br /> Page 3 of 7 Pages <br />