Laserfiche WebLink
<br />-, <br /> <br />Onion Valley Dam an appurtenant structures. will be integrated <br />with the Fruitland Irrigation Company I 5 repayment of the <br />construction loan of the project contract. which will be <br />executed contemporaneously with and immediately prior to the <br />execution of this termination contract. <br /> <br />NOW. THEREFORE it is hereby agreed that: <br /> <br />1. The feasibility report contract entered into between <br />the State and the Contractor on February IS, 1987 (attached as <br />Exhibit B and incorporated by reference herein). Contract <br />Encumbrance No. C-153487. is hereby terminated and the <br />remaining Obligations of the State and the Contractor under the <br />terms of that contract are no longer enforceable. <br /> <br />2. The Contractor agrees to the following terms for the <br />repayment of Three Thousand Dollars ($3.000). which represents <br />the principal amount provided by the State as partial financing <br />for the feasibility report under the terms of the feasibility <br />report contract: <br /> <br />a. The Three Thousand Dollars ($3.000) referred to <br />above will be added to that amount loaned to the <br />Fruitland Irrigation Company by the State under the <br />project contract for the repairs of Onion Valley Dam <br />and appurtenant structures. <br /> <br />b. The total amount described in paragraph 2.a. <br />above and interest for the full term will be repaid <br />under the terms of the project contract to be entered <br />into between the State and the Fruitland Irrigation <br />Company. <br /> <br />\ <br />\ <br />I <br />I <br /> <br />3. This termination of the feasibility report contract <br />will not be effective until such time as a valid and <br />enforceable project contract containing the terms of paragraph <br />2. above is in effect for the ~e:pairs of Onion Valley Dam and <br />appurtenant structures. <br /> <br /> <br />Page ~ of ! Pages <br />