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<br />6. Accounting. At all times from the effective date of this Contract until completion of this Project, th~ Contractor shall maintain prop~rly
<br />~..~r\:gal~d honks of Stale funds, matching funds, and other funds associated with this Project. All receipts and expenditures associated with said Pnljcct shall
<br />k: d\lcurn~nkd in a detailed and specific manner, and shall accord with the "Budget" set forth in Exhibit A. Contractor may adjust budgeh:d ~xpenditun: amounts
<br />lip III t~n p~rc..:nl (10%) within said Budget without approval of the State. Adjustments of budget expenditure amounts in excess of ten percent (10%) must b~
<br />u\l\hnri'/.cd by Ih..: Slate in an amendm~nt to this Contract properly execuled and approved pursuant to the State Fiscal Rules. In no event shall the Stak's InIal
<br />l'llll,;i,kration exceed tbe amount shown in Paragraph 5 above.
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<br />a. Unless otherwise provided in this Contract, if Exhibit A provides for more than one paymenl hy the Slate, the
<br />initial payment sel forth in the Pllymenl Schedule shall be made as soon as practicable after proper execution
<br />of this Conll'lld. The Contractor shall initial": all subsequ..:nt paymenl requests by submitting documented proof
<br />of prop..:r expenditure of SInh: funds tbus far received to a conlract monitor designated by the Slllte.
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<br />h. The Contmctnr shall request the final payment, which is the amount withheld by the Stat~ until the Project is
<br />accepted for completion, for the Project by submitting to the contract monitor a detailed costs accounting of
<br />all State funds received and expended towards completion of the Project which shall be included in a final
<br />project report. Upon determining to its satisfaction that all funds received by the Contractor have been properly
<br />spent towards the goals of the Project, the State shall promptly make final payment to the Contractor.
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<br />c. Within ninety (90) days of completion of the Project, the Contractor shall submit to the contract monitor II
<br />detailed cost accounting of expenditures of the final payment received from the State as well as a full and final
<br />project expenditure report. Any State funds not expended in connection with the Project shall be remitted to
<br />the SIal.: al thaI tirn..:.
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<br />7. Audit. Th..: State or ils aUlhorized representatiw shall have the right to inspect. exnmine, Hnd audit Contrllctor's records. hooks and
<br />a....OlillIS. including Ihe rig hI to hire an independent Cer1ified Public Accountanl of the State's choosing and al the State's expense to do so. Such
<br />,Iiscr\.:tinnary audit1l1ay he call..:d fOt' al any lime and for any reason from the effectiw date of this Contract until five (5) years aller the date linal payment
<br />Illr Ihis Pmject is rec~ived by tll..: contractor, provided thllt Ihe lludit is performed at a time convenient 10 the Contractor and during regular business hours.
<br />Whclh.:r or nollhe Slate calls for a discretionary audit as provided for in this paragraph, if the Project is accomplished within a singh~ liscnl year of the
<br />Conlract. the CllOlractor shall. at the conclusion of the Project, and in addition to any other reports required, submit a rep011 and auditor's statement of
<br />the Project accnunt to the Colorado Water Conservation Board. Such report shall be pr~pared in conjunction with Contractor's regulnr yenrly nudil. nn~ ./
<br />""'" b, ,ubmi",d within ,ix (6) mnnth, ,ner the elo" of the then current Con"'ctor's fisc,1 ycor, W
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<br />H. Independent Contractor.
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<br />Contm"o, i, a gmn"e ,nd sh,ll be an independent 'on",ctor and sh,ll have no ,uthorization, exl"'m or implied, to hind Ihe S"" c1f"
<br />to any agreements. settlements, liability 01' understlll)ding cxcept as expressly sel f0l1h herein. O/.. IlIb6PGN~e-,vv- C'tJl"
<br />
<br />Tbe Conl",,,nr "p""nl' Ihat Ihe COnl",,,or h"" or will ""n'e at i" own expen" ,11 p",onnel, "' emp'oYWkf t~~,~-r::-~/ ~J!:
<br />necessllry to perform the work and s<:rvices required to be performed by the Contractor under this Contract. Such personnel may ~tUut'l4t<'e
<br />not he employees of or have llny contractual relationship with the State and no such personnel arc eligible for nny employee benefits.
<br />unemplo)'ment compensation or any olher benefits accorded to Stale employees llnd Contractor agrees to indemnify the Stale lor llny ~
<br />costs for which lhe State may be found liable in these regards. Contrnctor shall pay when due all rcquir..::d employment tnx.;:" and .
<br />income tax withholding. All of the services required hereunder will be performed by the Contractor or ul1l.kr its supervision. lInd
<br />all personnel engaged in the work shall be fully qualified and shaH be authorized under Stnte and local law to perform such scrvic..:s.
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<br /><l.
<br />
<br />b,
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<br />9. Terminfttion of Contract for Cause. If, through any cause, the Contractor shall fail to fulfill in a timely llnd proper manner his ohligalilllH
<br />Ilnd.::r this Contract. or if the Contractor shall violate nny of the covenlmts, agreements, or stipulations of this Contract. the State shall thereupnn !lllve lhe
<br />ri~hl to h.:rlllinale this Contrnct for cause by giving wriuen notice 10 the Contrnctor of such termination and specifying the eITcctiv.:: date Ihereor. at lcasl
<br />l'lv<: (5) days before the effective date of such termination. In that event, nll finished or unfinished documents, dllla, slUdics, surwys. drawings. IlUlpS.
<br />Ill< ldds, phnlogritphs. nnd reports nr oth~r malerinl prepared by the Contrnctor under this Contrnct shall. al the option of the Sta!.:, become its prnpcl1y.
<br />ilnd Ih.... ConlrllChl1' shall h.... ....ntitled 10 r.:c.::ive jll~1 and ....quitnhlc ....ompensation for any satisfal.:lory work compkted on sueh documenls llnd other materiuk
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<br />Nlllwilhstanding the ahove. the Conlractor shnlJ nnt be rdieved of liability to the Stale for any dnmnges sustained by the Stale by vl11ue nf illlY
<br />i'!"e<rd1 or Ih.... Contract by the Contractor, and the Slate mny withhold any payments to the Contractor for the purpose of seloff until sllch time as th..: exact
<br />nrllount of damages dll": Ihe Stnte from the Contractor is determined.
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<br />Page 2 of 6 Pages
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