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1 ! <br /> 1 <br /> first installment shall be due and payable on January 1, 1981, and <br /> yearly thereafter until the entire principal sum shall have been paid. <br /> Said installment payment shall be made payable to the Colorado Water <br /> Conservation Board, payable at the offices of said board in Denver, <br /> Colorado. <br /> 9. Upon default in the payments heprein 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 to <br /> 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 neces- <br /> sary by the State to insure compliance [with provisions of this contract <br /> and the laws and regulations under which this contract is 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 One Million Five Hundred Thousand Dollars <br /> ($1, 500, 000) . <br /> 2. Assist the Contractor with such technical assistance as the <br /> State deems appropriate in operating the project and in coordinating <br /> the project with local official comprehensive plans for sewcr and <br /> water and with any state or area plans ' for the area in which the <br /> project is located. <br /> 3. In its sole discretion, the State may at any time give any <br /> consent, deferment, subordination, release, satisfaction, or termina- <br /> tion of any or all of the Contractor ' s obligations under this agreement, <br /> with or without valuable consideration, upon such terms and conditions <br /> as the State may determine to be (a) advisable to further the purposes <br /> of this contract or to protect the State ' s financ=al interest therein, <br /> and (b) consistent with both the statutory purposes of this contract <br /> and the limitations of the statutory authority under which it is made. <br /> 4. Upon completion of the payment of the full purchase price to <br /> the State in the sum of Two Million Five Hundred Ninety-Five Thousand <br /> Six Hundred Dollars ($2, 595, 600) as set forth in paragraph A. 8. of <br /> this contract, convey to the Contractor all of the State ' s right, <br /> title, and interest in and to the project by deed or other proper <br /> conveyance. <br /> • <br /> Page 3 of 5 pages <br />