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<br />5. AC~i)\.lfitina. At an Hmes fro_effective date Mtllis Contract lJ11til cOlnpletion of this rroAihe C:ontnlctoT shaH m:aintajn properly segretate(l
<br />,ooks ~}f Stare ftll1ds, matching funds, and other 5. f\S50ciattd with this Project All receipts and exp~nditurlll(fCiated with said Project slndl he documented 111
<br />, detailed and specific manner, and 'Slut!! (ie-card with the IlBUdget" set forth in Exhibit A. CQntra.ctOr tnay adjust budge-ted exptmditllTe amounts up to tet! percent
<br />(J 0%) within said Budget ",rjthOllt approval of the State. Adjustments of budget expenditurt amounts in exec:;,:; of ten percent (I(Wll} nlust be allt11orizeo by the State
<br />111 an al't'Wndment to this C<mtract properly executed and approved pursuant tl) the St.1te Fist<11 Rule1;, Ih no event :;hall the St<tte's total consideration exceed tht:
<br />afllmjOt ~hown in Paragruph 4 above.
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<br /><l. Hnles:!> otherwise pravide4 in this Contract, if Exhibit A PtQyides. for mote than one paYtnent by the State, the
<br />mitial payment set forth it! the Payment Schedule shaJl be made as Si)On as practicablt a.fu:-r -proper clWcl.ltion of
<br />this Contract ThiS Contr.l{:tor shall initiate all sub5e-quent payment requests by submitting docum::nted proof of
<br />proper expendihlre of State: funds thus fur receive<! to a cQntraCt monitor d<:sigtlated by the Stale,
<br />
<br />b. The C"nttactor shall reques.t the final payrnentl which is the amoUnt withheld by the Stlte until tbe Project is
<br />accepted for completloft, for the Project by subttritting to the Stare a detailed costs accounting of all State (un':!s
<br />received Md e'xpended towan:ls cot1'Jpletioh of the Project whkh shall be included in a final project re~rt Upon
<br />d~termining to its $2tfst~ction that aU funds received by the COI1t:r3t;fOf have b~ ptop~rly spent towards the goals
<br />of the Project, the State shall promptly make final paymellt to the C{mn-actvf,
<br />
<br />c. Within ninety (90) d8.Y~ Qf completion of the Project, the Controctm shall submit tv the Stal~ a de\}l1Jed c-o:,1
<br />acoounting of expenditures of the final payment received from the State as well <lS .a fun and final project
<br />expenditure report, Any State funds not expended in c{)onection wittl the Projett shall be ~mitled to the State llt
<br />that time.
<br />
<br />6. Audit The State 01' it~ llutborit:(:d reprlts(mtative shall have the right to inspec~ examine, and audit Contractor's rtcordsj books. and ~ccounts,
<br />including the right to hire 2.4 imlepwdent Certified Public Accountant afthe State's choosing and at the State's e.x-pensc to do so. Such dixftt:lo?lary audit may
<br />be can~ ftlr at any time and for any reason from the e-ftbctive date I)f this ContrhC-t until five (5) years after the date f'iniil paYlmr'lt for thi~ Project is received by
<br />the cQUtractor, provided that the audit i1; perfomred at a time converlient to the COlltroctor and during regulal' business oours. Whether or not the State cans fOf a
<br />discretionary audit l3S provid~d for in thil; paragr'dph, if the Proj~t is acwmp!ishcd within a singlt: fiscuJ year of the ContI'act, the Contral::tor shall, at the
<br />cc:mc1usi(}:f'j of t.he Projed, arld in additiOfl to any otlwr reportS required, submit a wp(lrt and auditor's s~temel1t t>f the Prr}ject account to the Colorado Water
<br />COtlSelVation Board. Su~h report sha.1I be prepared in conjum:tioft with ContractOr's regular yearly audit, and must be submitted within sh (6) months after tire
<br />close of the then current Contractor's fiscal year,
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<br />7. IndependemCofJtractor.
<br />
<br />a. COfltractor is a grantec and ~ha!l be an independent t:ontrJctor and s11all have no aufhQt1zation, express or impHed, to bind the State to any
<br />agreements, settlet'nents.. li~bi!ity or understa!lditJg except as expressly set tbl1h herein.
<br />
<br />b. The Contractor represent!; that the Contra(:tOl' has, <Jf wi!! secure at its own expense aU pen;ontlcl, a.s employees of the Conl.rf1ctor,
<br />ne{?e!.isary to Vetform J:he work and services required to be perfonned by the COntnlctof under this Contract Such personnel n~y not be
<br />employees of or have any contractual relationship with ttie State and no such persQune1 are eligible for any employee benefits,
<br />unemploymerlt comptn:mt;on or any other benefits al;wrded to Sta~ employees and CtmtracWI' agree!> to indenmity the Stittc for any
<br />COSts for whkh the State maybe fO\.lnd liable in these regards. Contn.Jctor shaH pay when due all require<! errlp!oy-merJt taxes and income
<br />tax withholding. All of thl:: servlces required heminder will be perfQrmed by the Contractor Q( under its supeTVision, and all ptfSohl1el
<br />engaged in the work shall be fully qualified and shaJl be ;lutbQrized under State and locil.llaw to perfonn such sCfi'ices,
<br />
<br />8. Termination of Contract for Cause. rt through aft)' cause, the; Om-tractor shaH fail 10 fulfillil1 a timely 3nd proper manner his obligations un(ler
<br />this Contract, or if the Contractor shaH violate all)' uf the covenantsl agn:ernents, or stipulations of thi$ Contn3ct, the State shaH thcrelJpon ~ve the right to
<br />termia<:tte this ContraCt for ['_aU!ie by giving written notice to the Cont1i1ctor {}f $\.Ich temrin:a.tion and s!J<lcifyirlg the effective date thereof, at least five {S) du:ys
<br />before the effettiv-e OO'lte of' $LIdl tr:rminatkm. In that event, ~H finished Of unfinished doCutnenUl, data, stu(\jes, surveys, drawings, 1nap~, models, photographs,
<br />af1d report:;; or other material ptepau.'<i by the Contractor under this Contract shall\ ~t the option of the State.. become its prt>p".:rty, and the Contractor $hal~ be
<br />entitled to receive just and ei:luitab!e compensation for any satisfactory work: completed on such docu1i1tn~ and othtr materials.
<br />
<br />Notwithsumdili8 tile above.. the Contnu:tor shall not be relieved ()f1jability to the State far any danuges sustained by the State by virtue (}f any
<br />breach of the Conttact by the Contractor, and the State may withhold any paymetlts to the CO!ttrat;lOf for the purpose of setoff until such time as the exact
<br />amout1t of damages due Ifie State ff{)m the Cmtt.racttlf is determined,
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<br />Pa)1:C 2. d6 Page$
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