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C153355 PIF
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C153355 PIF
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Last modified
6/15/2018 11:04:54 AM
Creation date
6/15/2018 11:04:38 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C153355
Contractor Name
Beaver Park Water, Inc.
Contract Type
Loan
Loan Projects - Doc Type
Repayment Information
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14 . Comply with Construction Fund Program Procedures <br /> attached hereto as Schedule A. <br /> B. Upon default in the payments herein set forth to be made <br /> by the Contractor , or in the performance of any covenant or <br /> agreement contained herein, the State, at its option , may ( a ) <br /> declare the entire principal amount then outstanding <br /> immediately due and payable ; (b ) for the account of the <br /> Contractor incur and pay reasonable expenses for repair , <br /> maintenance, and operation of the system herein described and <br /> such expenses as may be necessary to cure the cause of default ; <br /> and/or (c ) take possession of the system, repair , maintain , and <br /> operate or lease it . The provisions of this contract may be <br /> enforced by the State at its option without regard to prior <br /> waivers by it of previous defaults by the Contractor , through <br /> judicial proceedings to require specific performance of this <br /> contract or by such other proceedings in law or equity as may <br /> be deemed necessary by the State to insure compliance with <br /> provisions of this contract and the laws and regulations under <br /> which this contract .is made. <br /> C. The State agrees that it shall : <br /> 1 . Make available to the Contractor for the purpose of <br /> this contract not to exceed the sum of Two Hundred Seventy-Six <br /> Thousand Seven Hundred Fifty Dollars ($276 , 7.20) . Said Two <br /> Hundred Seventy-Six Thousand Seven Hundred Fifty Dollars <br /> ($276 , 750) shall be made available to the Contractor in <br /> accordance with the following terms and conditions : <br /> d . Beginning with the monthly period commencing <br /> September 1 , 1981 , and for every month thereafter <br /> until said project has been completed , the Contactor <br /> shall prepare with the assistance of the consulting <br /> engineer referred to in paragraph A. 1 . above an <br /> estimate of the funds required from the State for <br /> project construction during that month and shall <br /> forward said estimate to the State not less than <br /> fifteen ( 15 ) days prior to the beginning of such <br /> month . <br /> b. Upon receipt and approval by the State of such <br /> monthly estimate , the State will , within forty (40 ) <br /> days from the receipt of such esti , ,4kp44 over to <br /> the Contractor the amount of the tbelmote or <br /> such portion thereof as has been /lye <br /> e <br /> State. <br /> c. No payments will be made foul! tt it ttac - <br /> unt it the project plans and spec rfic oars .?reifer ed <br /> to in paragraph A. 1 . above are approved <br /> 2 . Provide the Contractor with such technical assistance <br /> as the State deems appropriate in planning, constructing, and <br /> operating the project and in coordinating the project with <br /> local official comprehensive plans for sewer and water and with <br /> any State or area plans for the area in which the project is <br /> located. <br /> D. This contract is not assignable by the Contractor except <br /> with written approval of the State . <br /> E . The parties to L IS contr'aG1. in nd Litdt Liie r 1 tGii )h ii; <br /> between them contemplated by this contract is that of <br /> employer- independent contractor . No agent , employee , or <br /> servant of the contractor shall be or shall be deemed to be an <br /> employee , agent , or servant of the State . The Contractor will <br /> be solely and entirely responsible for its acts and the acts of <br /> its agents , employees , servants , and Subcontractors during the <br /> performance of this contract . <br /> Page 4 of 7 Pages <br />
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