C153351 Contract - Laserfiche WebLink

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, ' ..~ "";.j 4. The parties expressly agree that all terms used in the ORIGINAL CONTRACT to refer to the CONTRACTOR shall be deemed to refer to the ASSIGNEE. 5. The ASSIGNEE assumes, agrees to be bound by, and shall perform each and everyone of the terms, covenants and conditions contained in the ORIGINAL CONTRACT and further assumes all obligations and liabilities of and all claims and demands against the CONTRACTOR under the ORIGINAL ~ONTRACT in all respects as if the ASSIGNEE were the original party to the ORIGINAL CONTRACT. 6. The ASSIGNEE ratifies and confirms all actions heretofore taken by the CONTRACTOR with respect to the ORIGINAL CONTRACT. 7. The ASSIGNEE shall be entitled to all right, title and interest of the CONTRACTOR in and to the ORIGINAL CONTRACT in all respects as if the ASSIGNEE were the original party to the ORIGINAL CONTRACT. 8. It is agreed the ORIGINAL CONTRACT is and shall be modified, altered, and changed in the following respects only: A. Paragraph A.5 is amended by the addition of the following: The CONTRACTOR conveyed the portions of the PROJECT facilities described above in paragraphs a. through f. to the STATE by a quitclaim deed recorded in the Summit County Clerk and Recorder's Office on January 29, 1987 at Reception No. 331935. With the CONTRACTOR'S consent, the STATE has conveyed the same to the ASSIGNEE by quitclaim deed. Jt deed of trust, executed by the ASSIGNEE and conveying to the STATE a 100% interest in the portions of the PROJECT facilities described above in paragraphs a. through 0., is attached hereto as ATTACHMENT 3 and incorporated herein. B. Paragraph A.7 is replaced by the following: Without expense to the State, manage, operate and maintain the project system continuously in an efficient and economical manner. The ASSIGNEE agrees to indemnify and hold the State harmless from any liability incurred by the STATE as a result of the STATE'S interest in the project facilities and any other property identified in Paragraph A.5 of this Contract. Until complete repayment of the loan is made to the STATE, the ASSIGNEE shall maintain comprehensive general liability insurance covering the management, operation, and maintenance of the Project. ASSIGNEE is a "public entity" within the meaning of the Colorado Governmental Immunity Act, CRS 24-10-101, et seq., as amended ("Act"). The ASSIGNEE shall at all times during the term of this contract maintain such liability insurance, by commercial policy or self-insurance, as is necessary to meet its liabilities under the Act. Said insurance shall name the STATE as additional insured. A current certificate of said liability insurance and an additional insured endorsement must be filed with the STATE upon execution of this contract, and a certificate provided upon each subsequent renewal. C. Paragraph A.12 is amended to read as follows: Pay to the STATE Two Million Four Hundred Twenty-Four Thousand Nine Hundred Sixty Dollars ($2,424,960), payable in forty (40) annual installments of Sixty Thousand Six Page 3 of 5 -"