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<br />insurance must be filed with the Colorado Water Conservation <br />Board prior to the start of the operation of the pcoject <br />system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor's service area <br />without discrimination as to race, color, religion, or natural <br />origin at reasonable charges inCluding assessments, taxes, or <br />fees in accordance with a schedule of such charges, whether for <br />one or more classes of service, formally adopted by the <br />Contractor through its board of directors, as may be modified <br />from time to time by the Contractor. The initial rate schedule <br />must be approved by the State. Thereafter, the Contractor may, <br />subject to the approval of the State, make such modifications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide for"the financial <br />requirements of the system as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />9. Adjust its operating costs and service charges from <br />time to time to provide for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth or service requirements in the area within its <br />jurisdiction. <br /> <br />11. Provide the State with such periodic reports as it may <br />require and permit periodic inspections of its operations and <br />accounts by a designated representative of the State. <br /> <br />12. Purchase from the State all of the state's right, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of Two Hundred Fifty-Six Thousand <br />Four Hundred Thirty-Two Dollars ($256,432) payable in forty <br />(40) annual installments of Six Thousand Four Hundred Ten <br />Dollars and Eighty Cents ($6,410.80) each, which first <br />installment shall be due and payable on October 1, 1984, and <br />yearly thereafter until the entire principal sum shall have <br />been paid. Said installment payments shall be made payable to <br />the Colorado Water Conservation Board, payable at the offices <br />of said Board in Denver, Colorado. <br /> <br />13. Obtain and maintain general fire and hazard insurance <br />on the project system in an amount not less than the amount <br />owing to the State for purchase of the project system until <br />the Contractor has purchased the project system. The State <br />shall be the sole insured of .this policy. The purchase price <br />payable to the State shall be reduced in the amount of any <br />"payments made to the State under this insurance coveragej if <br />only a portion of the purchase price is paid to the State under <br />this policy, the numb'~r 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 />15. Comply with~ the provisions of Section 5 of S.B. 439, <br />1981 Session of the Colorado General Assembly. <br /> <br />16. Not sell, convey, assign, grant, transfer, or <br />otherwise dispose of the project or any portion thereof, so <br />long as any of the annual installments required by paragraph <br />A.12. above remain unpaid, without the prior written <br />concurrence of the State. <br /> <br />Page 3 of 7 pages <br />