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PROJ00088
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Last modified
11/19/2009 11:43:05 AM
Creation date
10/5/2006 11:35:17 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153035
Contractor Name
Carbondale, Town of
Contract Type
Loan
Water District
0
County
Garfield
Bill Number
SB 75-468
Loan Projects - Doc Type
Contract Documents
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<br />as may be neces~dry to cure the cause of default, and/or (c) take <br />possession of. the system, repair, maintain, and operate or lease <br />it. The provisions of this contract may-be enforced by the State, <br />at its'option without regard to prior waivers by it of previous <br />defaults by the Contractor, through judicial proceedings to require <br />specific performance of- this contract or by such other proceedings <br />in law or equity as may be deemed necessary by the State to insure <br />compliance with provisions of .this contract and the laws and <br />regulations under which this contract is made. <br /> <br />B. The State agrees that it will: <br /> <br />1. Make available to the Contractor for the purpose of this <br />.contract the sum of Seven Hundred Ninety-Five Ihousand Dollars <br />($795,000). Said Seven Hundred Ninety-Five Thousand Dollars <br />($795,000) shall be made available to the Contractor in accordance <br />with the following terms, schedule and conditions: <br /> <br />a. Beginning with the monthly period commencing July 1, 1976, <br />'and .for every month thereafter. until said project has been <br />completed, the Contractor shall prepare an, estimate of the <br />funds required from the State for project construction during <br />that month.and shall forward said estimate to the State not <br />less than fifteen (15) days prior to the beginning of such <br />month. <br /> <br />. b. Upon receipt and approval by the State of such monthly <br />estimate, the State will, within thirty (30) days from the <br />receipt of such estimate, pay over tO,the Contractor the amount <br />of the monthly estimate. or such portion thereof. as has been' <br />approved by the State. <br /> <br />2. Assist the Contractor with such teclmical ass-istance as the <br />State deems appropriate in planning, constructing, and operating <br />the project and in coordinating the project with local official <br />comprehensive plans for sewer and water and with .any state or area <br />plans for the. area in which the project is located. <br /> <br />3. In its sole discretion, the State may at any time give any <br />consent, deferment, subordination, release, satisfaction,.or <br />termination of any or all of the Contractor's obligations under <br />this agreement, with or. without valuable consideration, upon such <br />terms and conditions as the State may determine to be (a) advisable <br />to further the purposes of this contract or to protect the State's <br />financial interest therein, and (b) consistent with both the <br />statutory purposes of this contract and the limitations .of the <br />statutory authority under which it is made. <br /> <br />4: Upon completion of the payment of the full purchase price to <br />the State in the sum of One Million Two Hundred Twenty-Four <br />Thousand Four Hundred Eighty Dollars ($1,224,480) as set forth in <br />paragraph A. 9. of this contract, to convey to the Contractor all <br />of the State's right, title and interest in and to the project by <br />deed or other proper conveyance. <br /> <br />P~e 3. of 5 pages <br />
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