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<br />(:'.::; <br /> <br />10. Construction and Financial Reports and MeetiI1l!s. The SWSP Enterprise will <br />provide Allottee with written monthly reports together with financial reports regarding payrD.ent <br />of charges and costs and expenditures during construction of the Pipeline on the progress of <br />construction and the expenditure offunds. In addition. the SWSP Enterprise shall schedule <br />and hold meetings of all Participants at the offices of the DistIict in Loveland. Colorado. at <br />least quarterly at which time the SWSP Enterprise shall present and discuss the fmancial <br />reports regarding payment of charges and costs by the Participants and the expenditure of <br />funds. <br /> <br />11. Limitations on Rillhts of Allottee. In addition to all the other terms. conditions <br />and covenants contained herein, it is specifically understood and agreed by and between the <br />parties hereto that the rights of the Allottee hereunder are subject to the follOwing terms. <br />conditions and limitations. which are incotPorated herein by this reference: <br /> <br />a. The Water Conservancy Act of Colorado, C.RS !l!l37-45-101 et sea.: and <br /> <br />b. The rules, regulations and poliCies of the Board and the same as may be <br />amended from time to time, provided that to the extent such future rules, <br />regulations and policies adversely affect the Allottee's rights hereunder or its. <br />rights to use the capacity contracted for in any lawful manner. such future <br />rules. regulations or policie~ shall not be enforceable against Allottee. <br /> <br />12. Transfer of Allotment Allottee shall have the right to permanently assign or <br />transfer all or any part of its allotment of cllpacity hereunder. for such consideration as <br />Allottee in its sole discretion may establish, subject to the terms and conditions of this <br />Contract to lIDother Entity that is flnanciaDy able to perform this Contract with the prior <br />written consent of the Board. which shall not be unreasonably withheld. Allottee may. in its <br />sole discretion. lease. sublease, pledge a seCurity interest in a lease. or pledge or encumber all <br />or a portion of its allotment of capacity hereunder to another Entity subject to the terms and <br />conditions of this Contract without prior approval of the Board. Allottee shall be relieved of its <br />obligations hereunder to the extent of any permanent transfer of capac.lty. except as otherwise <br />provided herein. Promptly follOwing any lellse. sublease. assignment. pledge or other <br />hypothecation. the lessee, sublessee. assigoee, pledgee, etcetera. as applicable. shall deliver to <br />'the SWSP Enterprise a written notice and a.cknowledgement in the form of Exhibit 3 attached <br />hereto. This Contract is made for the exclusive benefit of the Allottee and shall not inure to <br />the benefit of any successors or assigns of ~aid Allottee except pursuant to the terms of this <br />Contract. <br /> <br />13. permitted Assillnments. Allottee shall have the right to temporarily assign all or a <br />portion of its capacity allotment to another PartiCipant within the physical capabilities of the <br />Pipeline and the conditions set forth on Schedule A The SWSP Enterprise shall not be <br />required to reCOgnize such an assignment until it has received reasonable notice thereof from <br />the Allottee. <br /> <br />14. Remedies. <br /> <br />a. Should the Allottee or the SWSP Enterprise suffer injury or damage to person or <br />property because of any error, Omission or act of the other party or of any of the <br />other party's employees or agents or others for whose acts the other party is <br />legally liable. claims will be IJl3,de in writing to the other party within a <br />reasonable time of the first observance of such injury or damage. The <br /> <br />13 <br />