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<br />. . ~ <br /> <br />,) <br /> <br />,"l <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of sain liability <br />insurance must be filed with the Colorado Water Conse~vation <br />Board prior to the' start of the ope~ation of the p~oject <br /> <br />system. <br /> <br />8. Make the services of said project available withln its <br />capacity to all petsons in the Contractor's s7r~ice area <br />without discrimination as to race, color, relIgion, or natural <br />origin at reasonable charqes including asseSSments, taxes, or, <br />fees in accordance with a SChedule of such charges, whether [or <br />one or more classes of service, formally adopted by the I <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 th~ system as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />9. Aojust its operating costs and service charges from <br />time to time to provide for adequate operation and maintenance, <br />emergency repair s~rvice5, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand th~ system from time to time to meet reasonable <br />growth or service ~equirements in the area within its <br />jurisdiction. <br /> <br />11. Provide tt)e State with sLlch periodiQ reports as it may <br />require and permit periodic inspections of its operations and <br />accounts by a designated r~presentative of tne State. <br /> <br />12. Purchase from the State all of the State's right, <br />title, and interest in said project and any ~acilities thereof <br />at a total purchas~ price of Four Hundred Eishty-Nine Thousand <br />Three Hundred Nine Dollars and Forty-Four Ce~ts ($489,309.44) <br />payable in f~rty (40) annual installments of Twelve Thousand <br />Two Hundred ThirtY~Two Dollars and Seventy-F~ur Cents <br />($12,232.74) , each, which first installment shall be due and <br />payable on Kay 1, 1984, and yearly thereafter until the entire <br />principal sum shall have been paid. Said installment payments <br />shall be made payable to the Colorado Water Conservation Board, <br />payable at the offtces of said Board in Denv~r, 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 unt.il <br />the Contractor has purchased the project system. The State <br />shall be the sole insu-rec1 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 coverage; i: <br />only a portion of the purChase price is paid t.o the Stat.e under <br />this policy, the number of installment payments shall remain <br />unchanged, however the amount of each payment shall be <br />red uced . <br /> <br />14. Comply with Constrtiction Fund program Procedures <br />attached hereto as Schedule p... <br /> <br />1S. 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 parag~aph <br />A.12. above remain unpaid, without. the prior written <br />concurrence of the State. <br /> <br />Po1f')~ 1 of 7 P;''l(':'; <br />