PROJ00289

• Contract/PO #: C153597
• Contractor Name: Windsor Reservoir and Canal Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 91-1006
• Loan Projects - Doc Type: Contract Documents

Douglas Dam

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PDA
CQNTRACl KOlITING NUMBER

No Encumbrance
Terminates C-153585

TERMINATION

CONTRACT

-Z7L ,
THIS CONTRACT. made Ihjs~~ '1 day or /7 <...t.-.;-7".( ~ 7!-

Stale or Colorado for the Ulle and benefil of the Deparfmen({f ., Na tural
(Colorado Water Conservation Board) ,

hereinaher rl'ferred to as the State. and '2 The Windsor Reservoir
P. O. Box 206, Eaton, CO 80615,

hereinaher referred to as the contraclor.lContractorpr Borrower.

19 9..!.. . by and bel ween the
Resources

and Canal Comoany,

WHEREAS. authority uisfs in the Law and Funds have been budgefed. appropriated and otherwise made
i1yailable and a sufficient unencumbered balance thereof remains ayailable ror payment in Fund Number N/A
G/L Account Number N/A . Contract Encumbrance Number N/A : and

WHEREAS. re4uirc-d approval, clearance and coordinatiuo has been accomplished from and with llPllropriate
agrndes: and
WHEREAS, the State and the Contractor entered into a contract
on October 24, 1990 (attached as Exhibit B and incorporated by
reference herein), which contract shall hereinafter be referred to
as the "feasibility report contract," in which the state agreed to
pay the Contractor Nine Thousand Dollars ($9,.000) for the purpose
of partially funding a feasibility report concerning the
rehabilitation of the Douglas Dam facilities owned by the
Contractor; 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 up to
Eleven Thousand six Hundred Fifty-Five Dollars ($11,655)
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, or to what specifications or plans the subject
project is financed, paid, or constructed for so long as
construction of the project 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 up to
Eleven Thousand six Hundred Fifty-Five Dollars ($11,655) shall
be payable in ten (10) equal yearly installments of up to One
Thousand One Hundred Sixty-Five Dollars and Fifty Cents
($1,165.50) 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
separate contract (hereinafter referred to as the "project
contract") in which the state will loan the Contractor money
for the purpose of rehabilitating the Douglas Dam facilities owned
by the Contractor; and

'WHEREAS, initiation of construction to rehabilitate the
Douglas Dam facilities will 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 separate Eleven-Thousand-
Six-Hundred-Fifty-Five-Dollar ($11,655) obligation under the
feasibility report contract provided that the repayment of the Nine
Thousand Dollars ($9,000) (WhiCh represents the principal amount
provided by the State for the purpose of partially funding the
feasibility report for the Douglas Dam rehabilitation) will be

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EXHIBIT A