NCWCD Ag Options Program Contract

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" ~ 6. AccountioR. At an times from the effective date of this Contract until completion of this Project, the Contractor shall maintain properly segregated books of State funds. matching funds. and other funds associated with this Project. All receipts and expendiwres associated with said Project shall be documented in a detailed and specific manner, and shall accord with the "Budget" set forth in Exhibit A. Contractor may adjust budgeted expenditure amounts up to ten percent (10%) within said Budget without approval of the State. Adjustments of budget expenditure amoUnts in excess of ten percent (10%) must be authorized by the State in an amendment to this Contract properly executed and approved pursuant to the State Fiscal Rules. In no event shall the State's total consideration exceed the amount shown in Paragraph 5 above. 8. Unless otherwise provided in rh.is Contract. if Exhibit A provides fOC' more than one paymeat by the State, the initial payment set focth in the Payment Schedule shaIl be made as soon as practicable after proper execution of this Contract. The Contractor shall initiate all subsequent payment requests by submitting documented proof of proper expenditure of State funds thus far received to a contract monitor designated by the State. b. The Contractor shall request the final payment, which is the amount withheld by the State until the Project is accepted for completion, for the Project by submitting to the contract monitor a detailed costs accounting of all State funds received and expended towacds completion of the Project which shan be included in a final JX'oject report. Upon detennining to its satisfaction that all funds received by the Contractoc have been properly spent towards the goals of the Project. the State shall promptly make final payment to the Contractor. c. Within ninety (90) days of completion of the Project. the Contractor shall submit to the contract monitor a detailed c:ost acoounting of expeoditures of the final payment received from the State as well as a full and final project expenditure report. Any State funds not expended in coonectioo with the Project shaU be remitted to the State at that time. 7. ~. The State oc its authorized representative shan have the right to inspect. examine. and audit Contractor's records, books and accounts, including the right to hire an independent Certified Public Accountant of the State's choosing and at the State's expense to do so. Such discretionary audit may be called for at any time and for any reason from the effective date of this Contract until five (S) years after the date final payment for this Project is received by the contractor, provided that the audit is perfonned at a time convenient to the Contractor and during regular business hours. Whether or not the State calls for a discretionary audit as provided for in this paragraph, if the Project is acoomplished within a single fiscal year of the Contract, the Contractor shall. at the cooc1usion of the Project, and in addition to aoy other reports required, submit a report and auditor's statement of the Project account to the Colorado Water Conservation Board. Such report shaU be prepared in conjunction with Contractor's regular yearly audit, and must be submitted within six (6) months after the close of the then current Contractor's fiscal year. 8. Cndependent Contractor. a. Contractor is a grantee and shall be an independent contractor and shaU have no authorization, express or implied, to bind the State to any agreements, settlements, liability oc understanding except as expressly set forth herein. b. The Contractor represents that the Contractoc has. or will secure at its own expense all personnel, as employees of the Contractor, necessary to perform the work and services required to be perfocmed by the Contractor under this Contract. Such personnel may not be employees of or have any contractual relationship with the State and no such personnel are eligible for any employee benefits, unemployment compensation or any other beoefits accocded to State employees and Contractor agrees to indemnify the State for any costs foc which the State may be found liable in these regards. Contractor shall pay when due all required employment taxes and income tax withholding. All of the services required hereunder will be perfonned by the Contractor or under its supervision, and aU personnel engaged in the work shall be fully qualified and shall be authorized under State and local law to perform such services. 9. Termination of Contract for Cause. If, through any cause, the Contractor shall fail to fulfill in a timely and proper manner his obligations under this Contract, or if the Contractor shall vjolate any of the covenants, agreements, or stipulations of this Contract, the State shaH thereupon have the right to terminate this Contract for cause by giving written notice to the Contractor of such termination and specifying the effective date thereof, at least five (5) days before the effective date of such termination. In that event, all finished or unfinished documents, data, studies, surveys, drawings, maps, models, photographs, and reports or other material prepared by the Contractor under this Contract shall, at the option of the State, become its property, and the Contractor shall be entitled to receive just and equitable compensation for any satisfactory work completed on such documents and other materials, Notwithstanding the above, the Contractor shall not be relieved of liability to the State for any damages sustained by the State by virtue of any bc~ch of the Contract by the Contractor, and the State may withhold any payments to the Contractor foe the purpose of setoff until such time as the exact amount of damases due the State from the Contractor is determined. Pase 2 of 6 Pages