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<br />.., <br />" <br /> <br />Appendix "B11; and in no event shall this payment be the liability <br />of the State of Colorado. <br /> <br />5. In consIderation of the Stdte assuming a porliol1 of the <br />cost of the praparation of the said project feasibility report, <br />the Contractof-shalt pay to the State t.he ~um of Five Thousand <br />Four Hundred Thirty~Nine Dollars ($5,439) provided thdL <br />construction of the subject water project is Initlatcd within ten <br />(10) years of the date of this contrdct. The Contractor stlall <br />fulfIll this obLIgation irrespective of how, Or by whom, the <br />subject water project .is financed or paid for so long as <br />construction is initiated within the specified time. <br /> <br />6. In the event the Contractor must make payment pursuant <br />to the terms of pardgraph 5 above, then the said sum of Five <br />Thousand Four Hundred Thirty-Nine Dollars ($5,439) shall be <br />payable in ten (10) equal yearly installments of Five Hundred <br />Forty-Three Dollars and Ninety'Cents ($543.90) each, the FIrst <br />.installment to be due and payable upon the January 1st next <br />succeeding the initiation of construction on the said water <br />project. Subsequent payments shall be due and payable on January <br />1st of each year thereafter. <br /> <br />7. This contrijct is personal in nature and assignment of <br />performanc~ by the Contractor to another is prohibited unless <br />prior approval in writing 15 granted by the State. <br /> <br />8. The Contra~tor Is an independent Contractor and as such <br />is not entitled to any benefits of the 5tdte Personnel system. <br /> <br />Page 2 of 4 Pages <br />