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<br />b. For any injury to two or more persons in any <br />single occurrence, the sum of Four Hundred Thousand <br />Dollars ($400,000), <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of said liability <br />insurance must be filed with the Colorado Water Conservation <br />Board prior to the start of the operation of the project <br />system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor1s service area <br />without discrimination as to race, color, religion, or natural <br />origin at reasonable charges including assessments, taxes, or <br />fees in accordance with a schedule of such charges. whether for <br />one or more classes of service, formally adopted by the <br />Contractor through its board of directors, as may be modified <br />from time to time by the Contractor. The initial rate schedule <br />must be approved by the State. Thereafter, the Contractor may, <br />subject to the approval of the State, make such modifications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide for the financial <br />requirements of the system as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />9. Adjust its operating costs and service charges from <br />time to time to provide for adequate -operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth or service requirements in the area within its <br />jurisdiction. <br /> <br />11. Provide the State with such periodic reports as it may <br />require and permit periodic inspections of its operations and <br />accounts by a designated representative of the State. <br /> <br />12. Purchase from the State all of the State's right, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of Three Hundred Seven Thousand One <br />Hundred Forty-Six Dollars ($307,146) payable in forty (40) <br />annual installments of Seven Thousand Six Hundred Seventy-Eight <br />Dollars and Sixty-Five Cents ($7,678.65) each, which first <br />installment shall be due and payable on June 1, 1986, and <br />yearly thereafter until the entire principal sum 'shall have <br />been paid. Said installment payments shall be made payable to <br />the Colorado Water Conservation Board, payable at the offices <br />of said Board in Denver, Colorado. <br /> <br />13. Obtain and maintain general fire and hazard insurance <br />on the project system in an amount not less than the amount <br />owing to the State for purchase of the project system until <br />the Contractor has purchased the project system. The State <br />shall be the sole insured of this policy. The purchase price <br />payable to the State shall be reduced in the amount of any <br />payments made to the State under this insurance coverage; if <br />only a portion of the purchase price is paid to the State under <br />this policy, the number of installment payments shall remain <br />unchanged, however the amount of each payment shall be <br />reduced. <br /> <br />14. Comply with construction Fund Program Procedures <br />attached hereto as Schedule A. <br /> <br />15. Comply with the provisions of Section 5 of S.B. 439, <br />1981 Session of the Colorado General Assembly. <br /> <br />Page 3 of 7 pages <br /> <br />~ <br />