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" ~ \ its agents and employees, is hereby designated as the agent of..~h~. State for the purposes of this contract. 8. Purchase from ~he State all of the State's right, title, and interest in said project and any facilities thereof at a total purchase 26 price of ~~~~~_allngI~g~Xhj~~~=~9~_3~2~~~~~__T~_~JL~~~~~~_~t~Q~_Q211~!~J334, payable in annual inst~llments of _~~~T~~_~_~~~~L~~_~l~ty~2~~~E_EE11ars _~~~l_QQ~___________-___ each, which first installment shall be due and payable on EehLu~L~_~~_~~~____' and yearly thereafter until the entire principal sum spall have been paid. Said annual installment payment shall be made eayable to the Oivision of Disaster Emergency Services in the offices of -said "Services in Golden, Colorado. Such payments, will automatically be ~redited back to the Colorado Water Conservation Board Construction Funo. B. Upon default in th, payments .herein set forth to be made by the Contractor, or in ~he performance of any covenant or agreement contained herein, t:he State, at its option, may (al declare the entire principal a~ount then outstanding immediately due and payable; (b) for the accoun~ of the Contractor incur and pay reasonable expen- ses for repair, maintenance, and operation of the water system herein described and such other reasonable expenses as may be necessary to cure the cause of default; and/or (c) take possession"of the system, repair, maintain, and operate or lease it. The provisions of this contract may be enforced by the State, at its option without regard to prior waivers by it of previous defaults by the Contractor through jUdicial proceedings to require specific performance of this contract or by such other proceedings in law or equity as may be deemed necessary by the State to insure compliance with provisions of this contract and the laws and regulations under which this contract is made. c. The State agrees that it will: 193.170) 1. Make available to the Contractor for the purpose of this contract the sum 0 f Q.!!.~_.!!.1!.D2.!~.9J.J..!L~J:"y"'-_TJL~tLfL_t.I:!..Q.'!..ll.~Q.<<:!_Q.!l.~_!!~!l~!.~si_Q!:!~~D.!X_.P211 a r ~ Sa i d QniL!!.!J.D.fJ.[..e.!;Ll:lj..D~s...Y-=.1'll..r~.JL_Tj1_0_l!..~<a.Q..c.!.._Q..ll.~_tl.Id.!l2.f.~!!_~~Y~.!!lX_.Q..Q..!12 r s s h a 1 j be made available to the Contractor in accordance with the following terms, schedule and conditions. (al Beginning with the monthly period commencing _~~~~b_j~_~j~J and for every month thereafter until the project has bee~-c~mpleted, the Contractor shall prepare an estimate of the funds required from the State for project construction during that month and shall forward said estimates to the State not less than fifteen (15) days prior to the beginning of such month. (b) Upon receipt and approval by the State of such monthly estimate, the St~te will, within forty (40) days from the receipt of such estimate," pay over to the Contractor the amount of the monthly estimate or such portion thereof as has been approved by the State. 2. Assist the Contractor in such technical assistance as the State deems appropriate in constructing and operating the project and in coordinating the prpject with local official comprehensive plans and with any. state or area plans for the(area in which the project is located. D. Upon completion of ttle, payment of the full purchase pr ice to the State in the sum of ,j'.hI..e.e....~...xh.i.:c...U~~Y..L_'r.tLQ.!!~e.!l9._.T~.Q_!!1!I!.9.!~.9_,j:j...9....hj;...:L.Q.ollar 134,280)aS set forth in para9raph A.B. of this contract, to convey to the Contractor all of the State1s right, title, and interest in and to the project by deed or other conveyance. E. In its sole discretion, the State may at any time give any consent, deferment, subordination, release, satisfaction, or termination of any or all of the Contractor's obligation under this agreement, with or without valuable con~ideration, upon such terms and conditions as the State" may determine to be (a) advis"able to further the purposes of this contract or to vrotect the State1s financial interest therein, and (bl consistent with both the statutory purposes of this contract and the limitations Of the statutory authority under which it is made. Page _1_ of _2_ pages