PROJ00241

• Contract/PO #: C153496
• 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

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Furm Il.Af"-mA II{ ~'.~5!
Attachment to Project Lontract
The No. Poudre Irrig. Co.
Clark Lake Dam

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34-04-00
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No Encumbrance
Terminates C-153440

EXHIBIT A

TERMINATION
CONTRACT

THIS CONTRACT, made (his 20th daY of July
SIal<.' of Clllonujo for lhe lhe ;lIld Dendil of lile' Ikparlmenl IIf . \
(Colorado Water Conservation Board),
hl'reinafler r("ferred 10 a~ lhe Slall'. ;.tnd '2 The North Poudre
~O. Box 100, Wellinqton, CO 80549,
hrr..in:Jfler referred 10 a.\ theCOlllraclof.

198 ~ . by and between the
Natural Resources

Irriqatlon COmpany,

WHEREAS. lII11hllritr ~'\i\h in th.. Law and Fund, ha\'c been budgeled. appropriau:d and otherwise made
<I:<lil<lbk. and a \unk-iell! UlIi'nnllllt:H.'red hal:llIcc thereof re-maim :Jmilable for paymenl in Fund Numher _..NLA...._.
G/L Arcounl Number N fA . [ol1trart EIl('lllllhr,lllcf Number N/A : and

.WHEREAS. reqUlr~'d apprcllal. d~ar,lIIl-l.' and ~'ounlinatlol1 has bl'cn ac(-omplish..d from and with apprnprialc
.'gencles: ;llId

WHEREAS, the State and the Contractor entered into a
contract on August 1. 1985 (attached as Exhibit Band
incorporated by reference herein). which contract shall
hereinafter be referred to as the "feasibility report
contract.'I in which the State agreed to pay the Contractor
Eleven Thousand Seven Hundred Twenty Dollars ($11.720) for the
purpose of partially funding a feasibility report concerning
the repair of Clark Lake dam of the irrigation company; 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 Fifteen Thousand One Hundred Seventy-Seven
Dollars and Forty Cents ($15.177.40) 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 Fifteen Thousand One Hundred Seventy-Seven Dollars
and Forty Cents ($15.177.40) shall be payable in ten (10)
equal installments of One Thousand Five Hundred Seventeen
Dollars and Seventy-Four Cents ($1.517.74) 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 thereafter.

WHEREAS. the State and the Contractor intend to enter into
a contract (hereinafter referred to as the "project contractll)
in which the State will loan the Contractor money for the
purpose of repairing the Clark Lake dam: and

WHEREAS. initiation of construction to repair the Clark
Lake 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
Eleven Thousand Seven Hundred Twenty Dollars ($11.720) (WhiCh
represents the principal amount provided by the State for the
purpose of partially funding the feasibility report foe repairs

J95-5MI-'IO'14

I':lgl' Illf~rage~

3l94E

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EXHIBIT A