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<br />,. <br /> <br />" <br /> <br />A.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 Eight Hundred Forty-Seven Thousand <br />Two Hundred Seventy-Four Dollars and Eighty Cents ($847,274.80) <br />payable in Forty (40) annual installments of Twenty-One <br />Thousand One Hundred Eighty-One Dollars and Eighty-Seven Cents <br />(~21,181.87) each, which first installment shall be due and <br />payable on July 1, 1985, 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 Boand, <br />payable at the offices of said Board in Denver, Colorado. <br /> <br />c. The State agrees that it shall: <br /> <br />1. Make available to the Contractor for the purpose of <br />this contract not to exceed the sum of Three Hundred <br />Sixty-Three Thousand Four Hundred Fifty Dollars ($363,450). <br />Said Three Hundred Sixty-Three Thousand Four Hundred Fifty <br />Dollars ($363,450) shall be made available to the Contractor in <br />accordance with the fallowing terms and conditions: <br /> <br />a. Beginning with the monthly period commencing <br />July 1, 19d3, and for every month thereafter until <br />said project has been completed, the Contractor shall <br />prepare with the assistance of the consulting <br />engineer referred to in paragraph A.1. above an <br />estimate of the funds required from the State for <br />project construction during that month and shall <br />forward said estimate to the State not less than <br />fifteen (15) days prior to the beginning of such <br />ITIonth. . <br /> <br />b. Upon receipt and approval by the State of such <br />monthly estimate, the State will, within forty (40) <br />days from the receipt of such estimate, pay over to <br />the Contractor the amount of the monthly estimate or <br />such portion thereof as has been approved by the <br />State. <br /> <br />c. No payments will be made under this contract <br />until the project plans and specifications referred <br />to in paragraph A.1. above are approved by the State. <br /> <br />I. Upon completion of the payment of the full purchase price <br />to the State in the sum of Eight Hundred Forty-Seven Thousand <br />Two Hundred Seventy-Four Dollars and Eighty Cents ($847,274.80) <br />as set forth in paragraph A.12. of this contract, the State <br />agrees to convey to the Contractor all of the State1s right, <br />title, and interest in and to the project by deed or other <br />proper conveyance. <br /> <br />3. All notices, correspondence or other documents <br />required by this contract shall be delivered or mailed to the <br />following addresses: <br /> <br />(a) For the Sto~P. <br /> <br />(b) For the Contractor <br /> <br />Mr. J. William McDonald, ~irector <br />Colorado Water Conservation Board <br />023 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br />Attn: Nick Ioannides <br /> <br />Handy Ditch Company <br />Box 460 <br />Berthoud, CO 00513 <br /> <br />Attn: Louis F. Bein <br /> <br />Page 2 of 4 Pages <br />