PROJ00316

• Contract/PO #: C153577
• Contractor Name: Michigan River Water Conservancy District
• Contract Type: Loan
• Water District: 47
• County: Jackson
• Bill Number: SB 90-41
• Loan Projects - Doc Type: Contract Documents

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,ATTACHMENT TO PROJE'
CONTRACT

lJt-.I',\I'TMf::N r 01( ,\.(jf::NC'r' :'OU.\lllI:R
34-04-00
CONTRACT ROl:TINli NI'MOF,1(
C ~1
No Encumbrance
Terminates Contract
No. C-153341

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EXHIBIT A

TERMINATION

19' 90 ' by and between the
atura1 Resources

hereinafter referred to as the contractur !Contractor.

WHEREAS. authority e"isls in the Law and Funds have been budgeted. appropriated and otherwise made
naillilble and a sufficient U1i:Rcumbered balance lhereof remains available for payment in Fund Number N/A
GlL Account Number N A ,Contracl Encumbrance Number N / ^ : and

WHEREAS, required appwval. clearance and coordinaliun has been accomplished from and wilh appropriate
.ge'ncie's: and

WHEREAS. the State and the Contractor entered into a
contract on February 1. 1981 (C-lS3341). which contract shall
hereinafter be referred to as the "#1 construction contract."
in which the State agreed to pay the Contractor One Million
Dollars ($1.000.000) for the purpose of constructing the Meadow
Creek Dam project. hereinafter referred to as the project; and

WHEREAS. construction of the project was completed in 1981
and the Contractor dutifully paid the annual repayment amounts
specified in the #1 construction contract through 1988. Which
repayments reduced the contractor's unpaid principal amount to
Eight Hundred Twenty-Five Thousand Dollars ($825.000); and

WH~REAS. in 1989. the Contractor experienced a financial
hardship which made the annual repayment required under ~l
construction contract an impossibility for that year; and

WHEREAS. the Contractor subsequently requested relief from
the State on the repayment Obligation cited in the #1
construction contract; and

WHEREAS. the State has agreed to allow the Contractor to
consolidate and restructure all of its loans on this project;
and

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 tontractor money
for the purpose of paying off its Two Hundred Thousand Dollar
($200.000) indebtedness to the Wichita Bank of Cooperatives as
well as extending the period of repayment on the remaining
unpaid principal on the ~l construction contract; and

WHEREAS. the parties agree that it would be mutually
beneficial to terminate the Contractor's separate One Million
Dollar ($1.000.000) *1 construction contract provided that the
repayment of the Eight Hundred Twenty-Five Thousand Dollars
($825.000) (WhiCh represents the remaining unpaid principal
amount provided by the State for the purpose of partially
funding the construction of the project) will be integrated
with the Contractor's repayment of the construction loan of the
project contract. which will be executed contemporaneously with
and immediately prior to the execution of this termination
contract.

NOW. THEREFORE it is hereby agreed that:

1. The #1 construction contract entered into between the
State and the Contractor on February 1. 19B1 (attached hereto
and incorporated by reference herein). Contract Encumbrance No.
C-15334l. is hereby terminated and the remaining Obligations of

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