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<br />the Contractor has purchased the project system. The State <br />shall be the solp. insured of this policy. The purchase price <br />pa.yable to the State shall be reduced- in the amount of any <br />payments made to the State under this insurance coverage; if <br />only a portion of the purchase price is paid to the State under <br />this pOlicy, the number of installment payments shall remain <br />unchanged, however the amount of each payment shall be <br />reduced. <br /> <br />14. Comply with Construction Fund program Procedures <br />attached hereto as Schedule A. <br /> <br />R. Upon default in the payments herein set forth to be made <br />by the Contractor, or in the performance of any covenant or <br />agreement contained herein, the State, at its option, may (a) <br />declare the entire principal amount then outstanding <br />immediately due and payable; (b) for the account of the <br />Contractor incur and pay reasonable expenses for repai!;.,~,.,_ <br />maintenance, and operation of the system herein des~~e~~~nd <br />such expenses as may be necessary to cure the cau;;E!' '~},derau~t; <br />and/or (c) take possession of the system, repa' .\~ma ""::aini,:;":~nd <br />operate or lease it. The provisions of this con '~i7.'act \ br'i <br />enforced by the State at its option witho~ regar ~ "'JP <br />waivers by it of previous defaults by the ~~~tract <br />be deemed necessary by the State to' uret-'~~ ian ' with <br />provisions of this contract and t a ~~ ions under <br />which this contract is made. ,~~ <br /> <br />~ The State agrees that it <br /> <br />1. Make available to the Contr or for the purpose of <br />this contract not to exceed the sum of Three Hundred Fifty-Four <br />Thousand One Hundred Thirteen Dollars and Fifty-Seven Cents <br />($354,113.57). Said Three Hundred Fifty-Four Thousand One <br />Hundred Thirteen Dollars and Fifty-Seven Cents ($354,113.57) <br />shall be made available to the Contractor in accordance with <br />the fOllowing terms and conditions: <br /> <br />a. Beginning with the monthly periOd commencing <br />December 1, 1981, and for every month thereafter <br />until said project has been completed, the Contactor <br />shall prepare with the assistance of the conSUlting <br />engineer referred to in paragraph A.l. above an <br />estimate of the funds required from the State for <br />project construction during that month and shall <br />forward said estimate to the State not less than <br />fifteen (15) days prior to the beginning of such <br />month. <br /> <br /> <br /> <br />b. Upon receipt and approval by the State of such <br />monthly estimate, the State will, within forty (40) <br />days from the receipt of such estimate, pay over to <br />the Contractor the amount of the monthly estimate or <br />such portion thereof as has been approved by the <br />State. <br /> <br />c. No payments will be made under this contract <br />until the project plans and specifications referred <br />to in paragraph A.1. above are approved by the State. <br /> <br />2. Provide the Contractor with such technical assistance <br />as the State deems appropriate in planning, constructing, and <br />operating the project and in coordinating the project with <br />local official comprehensive plans for sewer and water and with <br />any State or area plans f.or the area in which the project is <br />rocated. <br /> <br />D. This contract is not assignable by the Contractor except <br />with written approval of the State. <br /> <br />PoHle .., () I' "/ P':',UJ(.H! <br />