C153444 Contract

• Contract/PO #: C153444
• Contractor Name: Farmers Extension Ditch & Highland Lake Lateral Company
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: SB 80-67
• Loan Projects - Doc Type: Contract Documents

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Form 6-AC-01A
NFI'B

DE'

PROJECT
CONTRACf

THIS CONTRACT, made tbis 15th day of Auqust

Slale of Colorado for the use and benefit of the Department of '1
(Colorado Water Conservation Board),

hereinafter referred 10 as the Stale and '2 the Farmers Extens:Lon
Highland Lake Lateral Pitch Company, P. O. Box 550,

hereinafter referred to as the contractor or the Borrower.

198 5. by and between the
Natural Resources

Ditch Company and the
Jo~nstown. CO 80534.

WHEREAS. authority exists in the Law and Funds have been budgeted. appropriated and otherwise made
available and a sufficient unencumbered balance thereof remains available fovayment in Fund Numbcr 40 n R
G/L Account Number 53] AX Contract Encumbrance Numbert1 !.9t/-if ; and
ABL Account Number 13186, Org.. Unit 77-77-777,
WHEREAS, required approval, clearance and coordination has been accOn1plished from and with appropriate
agencies; and

WHEREA~, pursuant to the provisions of 37-60-119, Colorado
Revised Statutes, the State is authorized to loan money for.the
construction of water projects for the benefit of the people of
the State; and

WHEREAS, the Borrower is a mutual ditch company in the
State of Colorado and wishes to repair, or cause to be
repaired, its irrigation system, hereinafter called the
project, for the Farmers Extension Ditch Company and the
Highland Lake Lateral Company shareholders in Weld County,
COlorado, at an estimated cost of Four Hundred Sixty Thousand
Dollars ($460,000), and

WHEREAS, a feasibility investigation of said project was
conducted and it waS found that such a project is technically
and financially feasible; and

WHEREAS, pursuant to Senate Bill No. 67, FiftY-Second
General Assen~ly of the State of Colorado, dulY enacted into
law, the Colorado water Conservation Board has been authorized
to loan a sum not to exceed One Million Two Hundred Thousand
Dollars ($1,200,000) for construction of the project;

NOW THEREFORE, in consideration of the mutual and
dependent covenants herein contained, it is agreed by the
parties hereto as follows:

A. 'the Borrower agrees that it shall:

1. Employ an engineering firm to prepare project plans
and specifications tor the project. Both the engineering firm
and the project plans and speCifications must pe approved by
the State before initiation of construction on the project,
including any real estate and water rights acquisitions, cart
conunence.

2. Contract for the construction of said project to a
responsible and capable firm or firms (hereinatter referred to
as Construction Fir~ or Firms), which Construction Firms shall,
when required by the State, be selected throug~ competitive
public bidding, said project to be completed within two (2)
years of the date of this contract in accordance with the
project plans and specifications and any neces~ary modification
thereof approved by the State. The State must approve, in
writing, all contracts before they can become effective. The
above-specified time may be extended by the State if such time
is insufficient because of acts of God or othe~ acts or
circumstances beyond the control of the Borrower.

3. Require all Construction Firms and their SUbcontrac-
tors to indemnify the State and the Borrower against all
liability and loss, and against all claims and actions based

395.53-o1.cOl0

Page I of ~ pages
.(See instructions on reverse or Jast page.)

317
farm/ex