C153514 Contract - Laserfiche WebLink

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\ I I [ amendment as though they were expressly rewritten. incorporated. and included herein. 2. The only modifications. alterations. or changes in the Original Contract shall be that Exhibit A and paragraphs B.II. D.I.. J. and N. shall be deleted and in their place Attachment B and the following paragraphs shall be inserted: B. The Contractor agrees that it shall: 11. Repay to the State the total principal sum of One Million Two Hundred Thirty-Eight Thousand Dollars ($1.238.000), which includes the project loan amount and the Sixty-Thousand-Dollar ($60.000) feasibility report amount. together with interest at the rate of five percent (5\) per annum. said repayment to be made in constant annual installments of Seventy-Two Thousand One Hundred Fifty Dollars and Sixty-Four Cents ($72,150,64)/ each. for forty (40) years. as shown in Attachment B. ~ attached hereto and incorporated by reference herein. which first installment shall be due and payable on December 1. 1989. and yearly thereafter until the entire principal sum shall have been paid. However. in the event the Contractor does not draw funds commencing on the date specified in paragraph D.l.a. below. the obligation to repay shall be postponed for the same number of months as the Contractor delays in drawing funds. Said installment payments shal~ be made payable to the COlorado Water Conservation Board.. payable at the offices of said Board in Denver. Colorado: D. The State agrees that it shall: 1. Loan to the Contractor for the construction of the project an amount not to exceed One Million One Hundred Seventy-Two Thousand Dollars ($1.172.000), Said One Million One Hundred Seventy-Two Thousand DoLlars ($1.172.000) shall be made available to the Contractor in accordance with the following terms and conditions: a. Beginning with the monthly periOd commencing June 22. 1988. and for every month thereafter until said project has been completed. the Contractor shall prepare. with the assistance of the Consultant referred to in paragraph B.l. above. an estimate of the funds required for project construction during that month and shall forward said estimate to the State not less than fifteen (15) days prior to the beginning of such month. b. Upon receipt and approval by the State of such monthly estimate. the State will. within forty (40) days from the receipt of such estimate. pay over to the Contractor the amount of the monthly estimate or such portion thereof as has been approved by the State. c. No payments will be made under this contract unless and until the project plans and specifications referred to in paragraph B.l. above are approved by the State in writing. d. Project construction costs eligible for payment by the State shall be limited to the cost of: (1) Preparing final designs and specifications for the project. (2) Preparing bid and construction contract documents. Page ~ of ~ Pages