|
<br />6. Accountin2. At all times from the effective date of this Contract until completion of this Project, the Contractor shall maintain properly
<br />sc'gregated books of State funds, matching funds, and other funds associated with this Project. All receipts and expenditures associated with said Project
<br />shall be documented inia detailed and specific manner, and shall accord with the "Budget" set forth in Exhibit A Contractor may adjust budgeted
<br />expenditure amounts up to ten percent (10%) within said Budget without approval of the State. Adjustments of budget expenditure amounts in excess
<br />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.
<br />In no event shall the State's total consideration exceed the amount shown in Paragraph 5 above.
<br />
<br />a. Unless otherwise provided in this Contract, if Exhibit A provides for more than one payment by the State,
<br />the initial payment set forth in the Payment Schedule shall be made as soon as practicable after proper
<br />execution of this Contract. The Contractor shall initiate aU subsequent payment requests by submitting
<br />documented proof of proper expenditure of State funds thus far received to a contract monitor designated
<br />by the State.
<br />
<br />b. The Contractor shall request the final payment. which is the amount withheld by the State until the Project
<br />is accepted for completion, for the Project by submitting to the contract monitor a detailed costs accounting
<br />of aU State funds received and expended towards completion of the Project which shall be included in a
<br />final project report. Upon determining to its satisfaction that all funds received by the Contractor have
<br />been properly spent towards the goals of the Project, the State shall promptly make fmal payment to the
<br />Contractor.
<br />
<br />c. Within ninety (90) days of completion of the Project, the Contractor shall submit to the contract monitor
<br />a detailed cost accounting of expenditures of the final payment received from the State as well as a full and
<br />final project expenditure report. Any State funds not expended in connection with the Project shall be
<br />remitted to the State at that time.
<br />
<br />7. Audit. The State or its authorized representative shall have the right to inspect, examine, and audit Contractor's records, books and
<br />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
<br />discretionary audit may be called for at any time and for any reason from the effective date of this Contract until five (5) years after the date finaJ
<br />payment for this Project is received by the contractor, provided that the audit is performed at a time convenient to the Contractor and during regular
<br />business hours. Whether or not the State calls for a discretionary audit as provided for in this paragraph, if the Project is accomplished within a single
<br />fiscal year of the Contract, the Contractor shall, at the conclusion of the Project, and in addition to any other reports required, submit a report and
<br />auditor's statement of the Project account to the Colorado Water Conservation Board. Such report shall be prepared in conjunction with Contractor's
<br />regular yearly audit, and must be submitted within six (6) months after the close of the then current Contr.l.ctor's flSC31 year.
<br />
<br />8. Indenendent Contractor.
<br />
<br />a. Contractor is a grantee and shaH be an independent contractor and shall have no authorization, express or implied, to bind the
<br />State to any agreements, settlements, liability or understanding except as expressly set forth herein.
<br />
<br />b. The Contractor represents that the Contractor has, or will secure at its own expense all personnel, as employees of the
<br />Contractor, necessary to perform the work and services required to be performed by the Contractor under this Contract. Such
<br />personnel may not be employees of or have any contractual relationship with the State and no such personnel are eligible for
<br />any employee benefits, unemployment compensation or any other benefits accorded to State employees and Contractor agrees
<br />to indemnify the State for any costs for which the State may be found liable in these regards. Contractor shall pay when due
<br />all required employment taxes and income tax withholding. Ail of the services required hereunder will be performed by the
<br />Contractor or under its supervision, and all personnel engaged in the work shall be fully qualified and shall be authorized under
<br />State and local law to perform such services.
<br />
<br />9. Termination of Contract for Cause. If, through any cause, the Contractor shall fail to fulfill in a timely and proper manner his
<br />obligations under this Contract, or if the Contractor shall violate any of the covenants, agreements, o! stipulations of this Contract, the State shall
<br />thereupon have the right to terminate this Contract for cause by giving written notice to the Contractor of such termination and specifying the effective
<br />date thereof, at least rive (5) days before the effective date of such termination. In that event, all finished or unfinished documents, data, studies,
<br />surveys, drawings, maps, models, photographs, and reports or other material prepared by the Contractor under this Contract shall, at the option of
<br />the State, become its property, and the Contractor shall be entitled to receive just and equitable compensation for any satisfactory work completed
<br />on such documents and other materials.
<br />
<br />Notwithstanding the above, the Contractor shall not be relieved of liability to the State for any damages sustained by the State by virtue
<br />oC any breach of the Contract by the Contractor, and the State may withhold any payments to the Contractor for the purpose of setoff until such time
<br />as the exact amount of damages due the State from the Contractor is determined.
<br />
<br />Page 2 of 6 Pages
<br />
|