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<br />Dollars ($350,000) shall be made available to the Contractor <br />in accordance with the fOllowing terms and conditions: <br /> <br />a. Beginning with the monthly period commencing <br />March 1, 1981 and for every month thereafter until <br />said project has been completed, the Contractor <br />shall prepare with the consulting engineer's help <br />an estimate of the funds required from the Stat~ <br />for project construction during that month and <br />shall forward said estimate of the funds required <br />from the State for project construction during <br />that month and shall forward said estimate to the <br />State not less than fifteen (15) days prior to the <br />beginning of such month. <br /> <br />b. Upon receipt and approval by the State of <br />such monthly estimate, the State will, within <br />forty (40) days from the receipt of such estimate, <br />pay over to the Contractor the amount of the <br />monthly estimate or such portion thereof as has <br />been approved by the state. <br /> <br />2. Assist the Contractor with such technical assistance <br />as the State deems appropriate in planning, constructing, <br />and operating the project and in coordinating the project <br />with local official comprehensive plans for sewer and water <br />and with any State or area plans for the area in which the <br />project is located. <br /> <br />D. In its sole discretion, the State may at any time give <br />any consent,deferment, subordination, release, satisfaction, <br />or termination of any or all of the Contractor's obligations <br />under this agreement, with or without valuable consideration, <br />upon such terms and conditions as the State may determine to <br />be (a) advisable to further the purposes of this contract or <br />to protect the State's financial interest herein, and (b) <br />consistent with both the statutory purposes of this contract <br />and the limitations of the statutory authority under which <br />it is made. <br /> <br />E. Upon completion of the payment of the full purchase price <br />to the State in the sum of Seven Hundred Seven Thousand Two <br />Hundred Eights Dollars ($707,280) ,as set forth in paragraph <br />A.9. of this contract, the State agrees to convey to the <br />Contractor all of the State's righ~?title, and interest in <br />and to the project by deed or other proper conveyance. <br /> <br />F. Contractor may at any time prepay, without penalty, the <br />purchase price described in paragraphs A.9 and E. above. <br />The prepayment price shall be the project cost of Three <br />Hundred Fifty Thousand Dollars ($350,000) plus the annual <br />fee of four percent (4%) accrued to the date of prepayment, <br />less p~yments made by contractor to the date of prepayme?t. <br /> <br />\ <br /> <br />Page 4 of 6 pages <br />