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<br />'. <br /> <br />. <br /> <br />F. Pursuant to H.B. 98-1189, Section 12, the General Assernbly authorized the STATE to <br />allocate up to $90,000 to the CONTRACTOR and to the USGS to conduct the STUDY. <br /> <br />G. The CONTRACTOR shall work with the USGS on the performance of the STUDY, and has <br />approved a scope of work for the STUDY tasks prepared by the USGS. . <br /> <br />H. The STATE shall allocate $12,000 of the grant funds to the USGS for certain STUDY costs <br />under a separate agreernent. <br /> <br />I. The STATE has entered into a rnemorandum of understanding with the DWR under which <br />the DWR will deliver $10,000 to the CWCB per fiscal year for FY98-99, FY99-00 and FYOO- <br />01 to apply to STUDY costs ("State Agency MOU"), and the STATE shall deliver said funds to <br />the CONTRACTOR. The State Agency MOU is incorporated herein by reference. <br /> <br />J. The USGS will contribute $6,400 and Colorado State University will contribute $10,000 to <br />fund certain portions of the STUDY. <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br /> <br />1. Study performance. The CONTRACTOR shall contract with a licensed well construction <br />contractor to construct the core in accordance with the Invitation to Bid attached as <br />Appendix A, and shall coordinate with the USGS to perform the STUDY tasks in accordance <br />with the STUDY Scope of Services attached as Appendix B. <br /> <br />2. Time of performance. The CONTRACTOR recognizes that time is of the essence in the <br />perforrnance of its obligations under this contract. Therefore, the CONTRACTOR shall <br />coordinate with the USGS to ensure that the CONTRACTOR and the USGS cornplete the <br />STUDY within three (3) years from the date of this contract. <br /> <br />3. Disbursement of funds. The STATE shall disburse funds in the amount of up to $78,000 <br />frorn the CWCB and up to $30,000 from the DWR to the CONTRACTOR periodically as the <br />CONTRACTOR submits statements to the STATE that set forth the STUDY tasks accomplished <br />and costs incurred for the time period covered by the statement. The STATE shall make <br />such disbursements within 60 days of receipt of a statement from the CONTRACTOR. <br />However, the STATE shall not disburse any funds under this agreernent until it has received <br />documentation of the MUSEUM'S receipt of funds for the STUDY from the National Science <br />Foundation. <br /> <br />4, Provision to STATE of study results. The CONTRACTOR shall provide the STATE and the <br />DWR with full access to STUDY developrnent, data, drafts and conclusions. If necessary, <br />the CONTRACTOR shall obtain copies of such STUDY materials from the USGS on behalf of <br />the STATE and the DWR. <br /> <br />5, Termination of contract for cause. If, through any cause, the CONTRACTOR fails to fulfill in <br />a timely and proper manner its obligations under this contract, or if the CONTRACTOR violates <br />any of the covenants, agreements, or stipulations of this contract, the STATE shall thereupon <br />have the right to terminate this contract for cause by giving written notice to the <br />CONTRACTOR of such termination and specifying the effective date thereof, at least five (5) <br />days before the effective date of such termination. In that event, the CONTRACTOR shall <br />provide the STATE with copies of all finished STUDY development, data, drafts and <br />conclusions prepared by the CONTRACTOR or by the USGS pursuant to this contract and/or <br />to any contracts between the CONTRACTOR and the USGS relating to the STUDY. The <br /> <br />Page 2 of 6 <br />