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<br />The warranty deed must be recorded by the Contractor in <br />the proper county or counties and all transfer taxes shall be <br />paid by the Contractor. <br /> <br />6. Permit periodic inspection of construction by <br />authorized representatives of the State duriDJ and after <br />construction. <br /> <br />7. Without expense to the State, manage, operate, and <br />maintain the project system continuously in an efficient and <br />economical manner, and assume all legal liability for such <br />management, operation, and maintenance. The Contractor shall <br />maintain general liability insurance covering its management, <br />operation, and maintenance of the project system until it has <br />completed purchase of the project system from the State in at <br />least the fOllowing amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of One Hundred Fifty Thousand <br />Dollars ($150,000). <br /> <br />b. For any injury to two or more persons in any <br />single occurrence, the sum of Four Hundred Thousand <br />Dollars ($400,000). <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of said liability <br />insurance must be filed with the Colorado Water Conservation <br />Board prior to the start of the operation of the project <br />system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor's service area <br />without discrimination as to race, color, religion, or natural <br />origin at reasonable charges inCluding assessments, taxes, or <br />fees in accordance with a schedule of such charqes, whether for <br />one or roore classes of service, formally adopted by the <br />Contractor through its board of directors, as may be modified <br />t:rom time to time by the Contractor. The initial rate schedule <br />must be approved by the State. Thereafter, the Contractor may, <br />subject to the approval of the State, make such modifications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide for the financial <br />requirements of the system as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />9. Mjust its operating costs and service charges from <br />time to time to provide for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth or service requirements in the area within its <br />jurisdiction. <br /> <br />11. Provide the State with such periodic reports as it may <br />require and permit periOdic inspections of its operations and <br />accounts by a designated representative of the State. <br /> <br />12. Purchase from the State all of the state's right, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of One Million Two Hundred Thousand <br />Five Hundred Sixty-Eight Dollars ($1,200,568) payable in forty <br />(40) annual installments of Thirty Thousand Fourteen Dollars <br />and Twenty Cents ($30,014.20) each, which first installment <br />shall be due and payable on June 1, 1984, and yearly thereafter <br />until the entire principal sum shall have been paid. Said <br />installment payments shall be made payable to the <br />Colorado Water Conservation Board, payable at the offices of <br />said Board in Denver, Colorado. <br /> <br />Page 3 of 8 pages <br />