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<br />, <br /> <br />by the ContrdcLor i5 estimdted to cost dpproximdlely Two <br />Hundred Sixty ThouscJll<1 Oolldrs ($2';0,000); dlld <br /> <br />WHEREAS. the Sldte, through the Colorddo Wdler <br />Conservdtlon BOdrd, hds dgreed Lo repdir lhe sdid projecL dnd <br />to sell lhe Sdme to lhe Contrdctor upon mutudlly dyreedule <br />terms dnd condlljons; dnd <br /> <br />WHEREAS, purSudnt Lo pol icy est.dhl ished bY lhe Colorddo <br />Wdter Conservdl ion UOdru dnd l'rom rUflds dppropridled by the I <br />General Assembly, the State will expend the sum of Two Hundred <br />Sixty Thousand Dollars ($260,000) for the repair, replacement, <br />dnd reconstruction of the project; dnd <br /> <br />NOW THEREFORE, in considerdtion of lhe mutudl dnd <br />dependent covendnts herein contained, il is hereby dgreed by <br />the pdrties hereto dS follows: <br /> <br />A. The Contractor dgrces thdt it shdll: <br /> <br />1. Cduse sdid project to be constructed within one (1) <br />year of the ddte of this contract In accordance with project <br />pldns dnd speclficdllons dpproved by the Stdte dnd dny <br />necessary modifIcations hereof prepared by it dnd aiso approved <br />by the State, or unless such time is extended b>- the State, or <br />unless such time is insufficIent because of the dCts of God or <br />other dcts or faIlure to dct beyond the control of <br />the Contractor. <br /> <br />2. Convey to the Colorado Water Conservdtion eoard, <br />Department of Ndturdl Resouces, State of Colorado, by <br />appro'priate deed or conveyance an undivided one-half interest <br />in the Horse Creek Dam, together wIth land and rights of said <br />darn, dll Jocated j,n 532, Tll~, H64W, Weld CounLY, StdLe of <br />Colorado. <br /> <br />3. Permit periodic inspection of construction by the <br />authorized represenLdtives of the State during construction dnd <br />permit the Stdte to review dnd approve or disdpprove dny <br />contract for the construction of the project or the performance <br />of work pursuant to such contracts or subcontr~cts, excepL thdt <br />thIs provision shall not dppl>, to work heretofore dcco~plished <br />by the Contrdctor. <br /> <br />4. Without expense to the State, mdndge, operate dnd <br />maintain the project system continously dnd in dn efficient dud <br />economicdl manner, and assume all legal and fi(ldncidl lidbility <br />for such management, operdtion and maintenance. <br /> <br />5. Make the servIces of such project dvailable within its <br />capdcity to all stockholders of the Contractor without <br />discrimination as to rdce, color, religion, or ndturdl origin <br />dt reasonable chdrgeS, including assessments, tdxes, or fees in <br />dccordance with a schedule of such chdrges, whether for one or <br />more cldsses of service, ,jS mdy he rurm.llly ddopLed by the <br />Contrdctor through its bOdrd of directors, and as mdY be <br />modified from time to tIme by the ConLactor. 1he ini tidJ rdle <br />schedule must be dpproved by Lhe StdLe. Theredfter, the <br />Contdctor mdy mdke such modIfications to the rdte scedule <IS <br />the Contdctor deems necessary to efficiently and economlcdlly <br />provide for the flndncial requirement of the system ..-IS long "'5 <br />the rdte schedule remdins rCdsondble dnd non-djscrimiltdLory and <br />subject to the approval b~ the State. <br /> <br />6. Adjust its operating costs dnd service chdrges from <br />time Lo time Lo provide for ddequdte ojJ('rdL iOIl dud m....IIILelldllce, <br />emergency repdir services, obsolescence reserves, debt servIce, <br />dnd debt reserves. <br /> <br />PoIeJn ? or (, p"eJf~~; <br />