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<br />installment payments shall be made payable to the Colorado Water <br />Conservation Board, payable at the offices of said Board in <br />Denver, Colorado. The Contractor may prepay the principal amount <br />outstanding to the state, in whole or in part, at any time <br />without penalty. <br /> <br />C. The state agrees that it shall: <br /> <br />1. Loan to the contractor for the construction of the <br />project an amount not to exceed Eighty Thousand Dollars <br />($80,000). said Eighty Thousand Dollars ($80,000) shall be made <br />available to the Contractor in accordance with the following <br />terms and conditions: <br /> <br />a. Commencing ten (10) days from the date of this <br />contract and for every month thereafter until said <br />project has been completed, the contractor shall <br />prepare, with the assistance of tbe Consultant referred <br />to in paragraph A.l. above, an estimate of the funds <br />required for project construction during that month and <br />shall forward said estimate to the state not less than <br />fifteen (15) days prior to the beginning of such month. <br /> <br />b. Upon receipt and approval by the state of such <br />monthly estimate, the state will, within forty (40) <br />days from the receipt of such estimate, pay over to the <br />Contractor the amount of the monthly estimate or such <br />portion thereof as has been approved by the state. <br /> <br />c. Project construction costs eligible for payment by <br />the state shall be limited to the cost of: <br /> <br />(1) Preparing final designs and specifications for <br />the project. <br /> <br />(2) Preparing bid and construction contract <br />documents. <br /> <br />(3) Preparing environmental assessment or <br />environmental impact statements, and otherwise <br />complying with the federal National Environmental <br />POlicy Act. <br /> <br />(4) Complying with all federal, state, and local <br />regulatory requirements, including the obtaining of <br />all required permits. <br /> <br />(5) Land and water rights acquisitions needed for <br />the project, including the necessary appraisals and <br />evaluations. <br /> <br />(6) Fish and wildlife mitigation measures required <br />by federal, state, or local laws and regulations. <br /> <br />(7) Actual construction as called for in the bid <br />documents and in Change Orders approved by the <br />Consultant, the contractor, the Construction Firm, <br />and the state. <br /> <br />(8) Engineering services for construction <br />management, including design and construction <br />management for state-approved Change Orders. <br /> <br />(9) Legal services for: <br /> <br />(a) Reviewing engineering services contracts. <br /> <br />(b) Reviewing this contract. <br /> <br />Page ~ of 2 pages <br />