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<br />1'lllm6.AC.02A
<br />FPB
<br />
<br />DEPARTMENT OR AGENCY NUMBER
<br />-0 -00
<br />CONTRACT R UTING NUMBER
<br />.~ ! i
<br />
<br />L
<br />
<br />
<br />$50,800
<br />
<br />PROJECT
<br />CONTRACT
<br />
<br />THIS CONTRACT. made this 18th day of AUqust 11)85, by and between the
<br />State of Colorado (or the use and benefit of the Department of ., Natural Resources
<br />(Colorado Water Conservation Board),
<br />hereinafter referred to as the StaCe, and '2 Fuchs Ranches, roc.,
<br />1620 County Rd. 14A, Del Norte, CO 81132,
<br />hereinafter referred to as the contractor or the Borrower.
<br />
<br />WHEREAS, authority exists in the Law and Funds have been budgeted. appropriale.d and otherwise made
<br />available and a sufficient unencumbered balance thereof remains (fj'ablwr payment in Fund Number 400B .
<br />G/L Account Number 5405X, Contract Encumbrance Number '53 oJ.;-and
<br />ABL Account Number 14051, Org. Unit 77-77-777,
<br />WHEREAS, re4uired approva~nce and coordination has been accomplished from and with appropriate
<br />agencies: and
<br />
<br />~mEREAS, IJursuant to the provisions of 37-60-119, Colorado
<br />Rev~sed Statutes, the State is authorized to loan money for the
<br />construction of water projects for the benefit of the people of
<br />the State; and
<br />
<br />WHEREAS, the Borrower is Fuchs Ranches, Inc., in the State
<br />of Colorado and wishes to improve, or cause to be improved, its
<br />irrigation storage structure, hereinafter called the project,
<br />tor the members of Fuchs Ranches, Inc., in Rio Grande County,
<br />Colorado, at an estimated cost of One Hundred Ten Thousand
<br />Dollars ($110,000); and
<br />
<br />WHEREAS, a teasibility investigation of said project was
<br />conducted and it was found that such a project is technically
<br />and financially feasible; and
<br />
<br />WHEREAS, on August 15, 1985, the State and the Borrower
<br />entered into an agreement (attached as Exhibit A and
<br />incorporated by reference herein and herelnafter referred to as
<br />the termination contact) which terminated a feasibility report
<br />contract (attached as Exhibit B and incorporated by reference
<br />herein) previously entered into between the parties.
<br />
<br />WHEREAS, the termination contract provided that the
<br />Borrow~r would ~ay tile State Five Thousand Four Hundred
<br />Thirty-Nine Dollars ($5,439) under the terms and conditions of
<br />this contract in consideration of the State.'s partial financing
<br />of the feasibility report for the project; and
<br />
<br />WHEREAS, the State has now agreed to loan money for the
<br />construction of said project upon mutually agreeable terms and
<br />conditions, subject to the availability of funding for that
<br />purpose; and the State and the Borrower agree that the
<br />repayment of the feasibility report funding shall be
<br />consolidated with the repayment of the project loan; and
<br />
<br />WHEREAS, pursuant to House Bill No. 1102, Fifty-Fourth
<br />General Assembly of the State of Colorado. duly enacted into
<br />law, the Colorado Water Conservation Board has been authorized
<br />to loan a sum not to exceed Fifty-Five Thousand Dollars
<br />($55,000) for construction of the project;
<br />
<br />NOW THEREFORE, in consideration of the mutual and
<br />dependent covenants herein contained, it is agreed by the
<br />parties hereto as tallows:
<br />
<br />A. The Borrower agrees that it shall:
<br />
<br />1. Em~loy an engineering tirm to prepare project plans
<br />and specitications tor the project. Both the engineering firm
<br />and the project plans and specitications must be approved by
<br />
<br />395-5lO1-1014
<br />
<br />Page I of ~ pages
<br />'(See instluefionson rcvcrs.e of last p.jc.)
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<br />102
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