Laserfiche WebLink
<br />of the Clark Lake dam project) with the Contractor's repayment <br />of the loan which will be made pursuant to the project contact; <br /> <br />NOW. THEREFORE it is hereby agreed that <br /> <br />1. The feasibility report contract entered into between the <br />State and the Contractor on August 1. 1985 (attached as Exhibit <br />B and incorporated by reference herein). Contract No. C-153440. <br />is hereby terminated. and the remaining obligations of the <br />State and the Contractor under the terms of that contract are <br />no longer enforceable. <br /> <br />2. The Contractor agrees to the following terms for the <br />repayment of Eleven Thousand Seven Hundred Twenty Dollars <br />($11,720). which represents the principal amount provided by <br />the State as partial financing for the feasibility report under <br />the terms of the feasibility report contract: <br /> <br />a. The Eleven Thousand Seven Hundred Twenty Dollars <br />($11.720) referred to above will be added to that <br />amount loaned to the Contractor by the State under the <br />project contract for the construction of the repairs <br />of the Clark Lake dam project. <br /> <br />b. The total amount described in paragraph 2.a. above <br />and interest for the full term will be repaid under the <br />terms of the project contract to be entered into between <br />the State and the Contractor. <br /> <br />3. This termination of the feasibility report contrac't <br />will not be effective until such time as a valid and enforceable <br />project contract is in effect for the construction of the <br />repairs of the Clark Lake dam project. <br /> <br /> <br />Page ~ of ~ pages <br />