PROJ00212

• Contract/PO #: C153449
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

Form 6-AC-02A

DEPARTMENT OR AGENCY NUMBER
34-04-00
CONTRACT ROUTI ~ NUM&.ER

EXHIBI:r A

No encum rance

TERlIINATION
CONTRACT

THIS CONTRACT. made this 1st day of October 19,a~ by and belween the
Slate of Colorado for the use and benefit of the Department of.' Natural Resources
(Colorado Water Conservation Board),
hereinafter referred 10 as the Stale. and '2 The North Poudre IrriGation Company,.
P. O. Box 100, Wellinqton, CO 80549,
hereinafter referred to as the contnclor,

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WHEREAS, required appro...a!. clearance and coordination has been accomplished from and with appropriate
agencies: and

WHEREAS, the State and the Contractor entered into a
contract on August 27, 1984 (attached as Exhibit Band
incorporated by reference herein, which contract shall
hereinafter be referred to as the "feasibility report contract,1t
in which the State agreed to pay the Contractor Twelve Thousand
Five Hundred Dollars ($12,500) for the purpose of partially
funding a feasibility report concerning the improvement of the
Contractor's existing darnj and

WHEREAS, the feasibility report contract provided in part
the following terms:

5. In consideration of the State assuming a
portion of the cost of the preparation of the said project
feasibility report, the Contractor shall pay to the State
the sum of Sixteen Thousand One Hundred Eighty-Seven Dollars
and Fifty Cents ($16,187.50) provided that construction of
the subject water project is initiated within ten (10) years
of the date of this contract. The Contractor shall fulfill
this obligation irrespective of how, or by whom, the subject
water project is financed or paid for so long as
construction is initiated within the specified time.

6. In the event the Contractor must make payment
pursuant to the terms of paragraph 5 above, then the said
sum of Sixteen Thousand One Hundred Eighty-Seven Dollars and
Fifty Cents ($16,187.50) shall be payable in ten (10) equal
installements of One Thousand six Hundred Eighteen Dollars
and Seventy-Five Cents ($1,618.75) each, the first
installment to be due and payable upon the January 1st next
succeeding the initiation of construction on the said water
project. Subsequent payments shall be due and payable on
January 1st of each year thereafterj and

WHEREAS, the State and the Contractor intend to enter into a
contract (hereinafter referred to as the "project contract") in
which the State will loan the Contractor money for the purpose of
improving the Contractor's existing dam (Reservoir No. 15 Darn);
and

WHEREAS, initiation of construction to improve the Reservoir
No. 15 Dam would create an obligation on the part of the
Contractor to make payments under the terms, specifically
paragraph Nos. 5 and 6, of the existing feasibility report
contract; and

WHEREAS, the parties agree that it would be mutually
beneficial to terminate the Contractor's obligation under the
feasibility report contract and to integrate repayment of the
Twelve Thousand Five Hundred Dollars ($12,500) (which represents
the principal amount provided by the State for the purpose of

395.5J-01-C010

Page I of....!.- pages
*(See instructions on reverse or lut pale.)

523
np/terTE-

EXHIBIT A