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<br />"t;'- :;; ~ <br />"- '; <br /> <br />~ <br /> <br />," <br /> <br />EXHIBIT A <br /> <br /> <br />.... 6-ACOZA (R SI85) <br /> <br />No Encumbrance <br />TERMINATION Terminates Contract <br />CONTRACT No. C-153486 <br /> <br />THIS CONTRACT. made Ihis 2/ d- day of /J//-~ 198~, by and belween the <br />Slale of Colorado for the use and benefit of the Depart~ of 'I Natural Resources <br />(Colorado Water Conservation Board), <br />hereinafter ~ferred 10 as the Slate, and'2 the Farmers Water Development Comoany, <br />Box 387, Norwood, CO 81423, <br />hert'inafler referred to as the conlractor, <br /> <br />WHEREAS. authority t'xiSIS in the Law and Funds ha~e been budgeted. appropriated and otherwise made <br />available and a suffiCient unencumbered balance Ihereof remains a~ailable for payment in Fund Number N fA <br />GJL Accounl Number N/A . COnll'lct Encumbnnce Number N/A ; and <br /> <br />WHEREAS. r~uirt'd appro~al. clear:mce and coordinatiun has been accomplished from and with appropriate <br />aleneit's: and <br /> <br />WHEREAS, the State and the Contractor entered into a <br />contract on February 15. 1987 (attached as Exhibit Band <br />incorporated by reference herein). which contract shall <br />hereinafter be referred to as the "feasibility report <br />contract," in which the State agreed to pay the Contractor <br />Sixty Thousand Dollars ($60,000) for the purpose of partially <br />funding a feasibility report concerning the repair and <br />rehabilitation of the Gurley Dam; and <br /> <br />WHEREAS, the feasibility report contract provided in part <br />the following terms: <br /> <br />5. In consideration of the State assuming a portion <br />of the cost of the preparation of the said project <br />feasibility report. the Contractor shall pay to the <br />State the sum of Seventy-Seven Thousand Seven Hundred <br />Dollars ($77.700) provided that construction of the <br />subject water project is initiated within ten (10) <br />years of the date of this contract. The Contractor <br />shall fulfill this Obligation irrespective of how, or <br />by whom. the SUbject water project is financed or paid <br />for so long as construction is initiated within the <br />specified time. <br /> <br />6. In the event the Contractor must make payment <br />pursuant to the terms of paragraph 5 above. then the <br />said sum of Seventy-Seven Thousand Seven Hundred <br />Dollars ($77.700) shall be payable in-ten (10) equal <br />installments of Seven Thousand Seven Hundred Dollars <br />($7,700) each. the first installment to be due and <br />payable upon the January 1st next succeeding the <br />initiation of construction on the said water project. <br />Subsequent payments shall be due and payable on January <br />1st of each year thereafter. <br /> <br />WHEREAS. the State and the Contractor intend to enter into <br />a separate contract (hereinafter referred to as the "project <br />contract") in which the State will loan the Contractor money <br />for the purpose of repairing the Gurley Dam; and <br /> <br />WHEREAS. initiation of construction to repair the Gurley <br />Dam will create an Obligation on the part of the Contractor to <br />make payments under the terms, specifically paragraph Nos. 5 <br />and 6. of the existing feasibility report contract; and <br /> <br />WHEREAS. the parties agree that it would be mutually <br />beneficial to terminate the Contractor's separate Sixty <br />Thousand Dollars ($60.000) Obligation under the feasibility <br />report contract provided that the repayment of the Sixty <br />Thousand Dollars ($60.000) (WhiCh represents the principal <br />amount provided by the State for the purpose of partially <br /> <br />J9505.101-1014 . <br /> <br />EXHIBIT A <br />Pal!:e loLL pages <br /> <br />6754E <br />