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<br />acts of its agents, employees, servants, engineering firms, <br />construction firms, and subcontractors during the performance <br />of this contract, <br /> <br />F. At all times during the performance of this contract, the <br />Contractor shall strictly adhere to all applicable federal and <br />State laws and regulations that have been or may hereafter be <br />established. <br /> <br />G. This agreement is intended as the complete integration of <br />all understandings between the parties. No prior or <br />contemporaneous addition, deletion, or other amendment hereto <br />shall have any force or effect whatsoever unless embodied <br />herein in writing, No subsequent notation. renewal. addition, <br />deletion, or other amendment hereto shall have any force or <br />effect unless embodled in a written contract executed and <br />approved pursuant to' State fiscal rules, <br /> <br />H, In its sole disdretion, the State may at any time and in <br />writing give any consent. deferment. subordination. release. <br />satisfaction. or terimination of any or all of the Contractor's <br />Obligations under this agreement. with or without valuable <br />consideration. upon :such terms and conditions as the State may <br />determine to be: (a) advisable to further the purposes of this <br />contract or to protect the State's financial interest therein. <br />and (b) consistent with both the statutory purposes of this <br />contract and the limitations of the statutory authority under <br />which it is made. <br /> <br />I. Upon completion of repayment to the State in the amount of <br />One Hundred Eighty-Six Thousand Four Hundred Ninety-Six Dollars <br />($186,4961..as set forth in paragraph A.13. above of this <br />contract. the State 'agrees to convey to the Contractor all of <br />the State1s right. title. and interest in and to the project <br />and any other property describiWin paragraph A.14. 'above by <br />deed or other proper 7fJJveyan e'. nd release the Deed of Trust described <br />in Paragraph A. 14 above.#tt-- er<.' '. <br />J. The Colorado Water Conservation Board, its agents and <br />employees, is hereby designated as the agent of the State for <br />the purpose of this contract. <br /> <br />K. The Contractor a'grees and understands that sections <br />37-60-119 through 37-60-122. CRS. as amended. require that the <br />loan of money by the' State to the Contractor fgr this water <br />project be conditioned upon the repayment of the loan to the <br />State. The Contractor hereby agrees to tak~ any and all <br />actions necessary to guarantee such repayment as provided <br />herein inclUding. wi~hout being limited to. the actions <br />specified in this contract. <br /> <br />L. The Contractor agrees that the specific revenues to be <br />pledged to repay the State shall include, without .being limited <br />to, an assessment levied for that purpose as- authorized by <br />Resolution of the Contractor. The Contractor hereby pledges <br />such assessment revenues to repay the State loan. warrants that <br />these revenues will not be used for any other purpose, and <br />agrees to provide the State a perfected security interest in <br />the form provided by the State irrevocably pledging such <br />revenues on the date of execution of this contract, <br /> <br />M, The Contr"actor warrants that i-t has duly passed. or will <br />pass, a Resolution by both its stockholders and by its Board of <br />Directors, as provided in its By-Laws. authorizing: the <br />Contractor to enter into -this contract with the State to borrow <br />the principal sum of Eighty Thousand Dollars ($80.000); to make <br />and levy assessment{s) 6ufficient to payoff this contract loan <br />pursuant to its terms and to discharge this lawful <br />indebtedness; to set aside this assessment revenue in a special <br />fund separate and apart from otner Contractor revenues to <br />assure repayment of this revenue to the State; and to sign a <br /> <br />Page 2 of lQ Pages <br /> <br />I <br />~ <br />