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<br />Contractor has purchdsed the project system. The Stdte shall <br />be the soh: insured of this pol1.cy. The purchase price pdYdble <br />to the State shdll be reduced in the dmount of any payments <br />made to the State under thls tnsurdnce coverdge; if only a <br />portion of the purchase prlce is pdid to the State under this <br />polley, the number of installment pdyments shall reroaln <br />unchanged, however the amount of each payment shall be <br />reduced. <br /> <br />10. Comply with the provisions of Section 5 of S.B, 439~ <br />1961 Session of the Colorado Ceneral Assembly. <br /> <br />6. Upon default in the payments herein set forth to be made <br />by the Contractor, or in the performdnce of any covenant or <br />agreement contained herein, the State, at its opt Lon, may (a) <br />declare the entire princlpal amount then outstanding <br />lmmedlately due and payable; (b) for the account of the <br />Contractor incur and pay reasonable expenses for repair, <br />maintenance, and operation of the system hereln descrlbed and <br />such expenses as may be necessary to cure the cause of defdult; <br />dnd/or (c) take possession of the system, repalr, malntain, and <br />operate or lease it. The provislons of this contract may be <br />enforced by the State at its option without regard to prior <br />waivers by it of previous defaults by the Contractor, through <br />judicial proceedIngs to requlre speciftc performance of thts <br />be deemed necessary by the State to lnsure compllance wlth <br />provisions of this contract and the laws and regulatlons under <br />which this contract ls made. <br /> <br />C. The State agrees that It shall: <br /> <br />1~ Make avallable to the Contractor for the purpose of <br />this contract not to e~ceed the sum of Thirty-Three Thousand <br />Dolldrs ($33,000), Sald Thirty-Three Thousdnd Oolldrs <br />($33,000) shall be made available to the Contractor in <br />accordance with the following terms dnd condltlons: <br /> <br />a. Beglnning with the monthly perlod commenclng <br />September 1, 1981, and for every month thereafter <br />until sald project hd.s been completed, the Contactor <br />shall prepare dn estlmate of the funds required from <br />the St~te for land, easements and/or rights-of-way <br />acqulsitlon for the Sedgwick Sand Draws Watershed <br />Conservancy Dlstrict during that month and shall <br />forward said estlmate to the State not less than <br />flfteen (151 days prior to the beginning of such <br />month. Such est imates shall include executed <br />contracts for the acqulsltion of the lands, <br />easements and/or rights-of-way and made conditional <br />upon approvat by the State. <br /> <br />b. Upon receipt and approval by the State of such <br />fuonthly estimate, the State will, within forty (40) <br />days from the receipt of such estimate, pay over to <br />the Contractor the amount of the monthly estlmate or <br />such portion thereof dS hdS been dpproved by the <br />State. <br /> <br />2. Provide the Contrdctor with such technical dsslstance <br />dS the State deems appropriate in planning, constructlng, dnd <br />operatlng the project and in coordlnating the project with <br />local offlciat comprehensive pldns for sewer and water dnd with <br />any State or area plans for the area tn wh icn the project ls <br />located. <br /> <br />D. This contract ls not assignable by the Contractor except <br />with written approval of the State. <br /> <br />E. The pdrties to this contrdct intend that. the relationship <br />between them contemplated by this contrdct is that of <br /> <br />lldgt: 3 01' 6 PdgCS <br />