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<br /> <br />DRAFT 9-1-04 <br /> <br />Contract. <br /> <br />., <br /> <br />C. Payment ofthe full Recovery Program Obligation is a prerequisite to the River <br />District executing the deeds transferring the interests described in paragraph II.A. herein <br />to the CWCB. Payment of the entire Recovery Program Obligation is due upon <br />Substantial Completion of the Reservoir Enlargement. Substantial Completion of the <br />Reservoir Enlargement shall be determined in accordance with the construction contract <br />between the River District and the entity retained to build the Reservoir Enlargement. If <br />a portion of the Reservoir Enlargement Cost of Construction remains undetermined upon <br />Substantial Completion of the Reservoir Enlargement, such portion shall become due and <br />payable at such time as the amount becomes definite. <br /> <br />I <br />I <br />I <br />I <br />I <br />I, <br />'. <br /> <br />D. In the event that the entire Recovery Program Obligation is not paid in full upon <br />Substantial Completion of the Reservoir Enlargement (or when any portion of the <br />Recovery Program Obligation that is undetermined upon Substantial Completion of the <br />Reservoir Enlargement is reduced to a definite amount), Reclamation, the State of <br />Colorado, or any other entity (not including the River District) may cure such default for <br />a period of up to two (2) years after the date of substantial completion of the Reservoir <br />Enlargement (or when any portion of the Recovery Program Obligation that is <br />unliquidated upon substantial construction of the Reservoir Enlargement is reduced to a <br />definite amount). In ihe event that Reclamation, the State of Colorado or any other entity <br />has not paid the Recovery Program Obligation in full within the time periods described in <br />this paragraph herein, Reclamation and the State of Colorado shall forfeit any and all <br />funds paid to the River District pursuant to this Reservoir Enlargement Agreement, Grant <br />Agreement No. , or the DNR Cost Share Agreement, and shall similarly forfeit <br />any and all right, title, or other interest, legal or equitable, in the Reservoir Enlargement, <br />its storage space, or any water rights adjudicated by the River District for use in the <br />Reservoir Enlargement. <br /> <br />IV. Reservoir OM&R Costs <br /> <br />I <br />I <br />I <br />I <br /> <br />A. Upon completion of the Reservoir Enlargement, the River District will be <br />allocated a percentage share of the OM&R costs for the Reservoir Enlargement together <br />with Craig. As provided in the Amended and Restated Agreement between the River <br />District, Craig, and Yampa Participants, the Yampa Participants will pay an annual <br />service charge that shall be used to reduce the OM&R costs for the Reservoir <br />Enlargement. The River District estimates that its percentage share ofthe OM&R <br />expenses will be Il,750/24,884th - which fraction is based on the anticipated size ofthe <br />storage space created by the construction of the Reservoir Enlargement (which will be <br />owned by the River District) and the anticipated total storage capacity of the Reservoir <br />Enlargement upon completion. In the event that the actual, as-built capacity of the <br />Reservoir Enlargement differs from this estimate, the percentage share of the River <br />District's obligation to pay OM&R costs shall be adjusted accordingly. <br /> <br />I' <br /> <br />C:\Documents and Settings\aDli.DWR\Local Settings\Temporary Inteme~~~ir Enlatgem:nt Agreement 9-1-04 clean.doc <br />