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<br />. <br /> <br />. <br /> <br />$237,000 <br />189,000 <br /> <br />Tota l' <br />5,451,000 <br />189,000 <br /> <br />Years <br />Year <br /> <br />1-23 at <br />24 at <br /> <br />Total <br /> <br />5,640,000 <br /> <br />(c) In the event the total loan obligation is less than $5,640,000 <br /> <br />the amount of each payment shall be in the amount and order as above until <br /> <br />the loan obligation is repaid. The effect of this procedure shall be to <br /> <br />reduce the length of the repayment period. <br /> <br />(d) The Contractor may at any time prepay all or any part of the <br /> <br />loan funda advanced under this contract, or after establishIllent of the loan <br /> <br />obligation all or any part of the loan obligation. <br /> <br />EXCESS LANDS <br /> <br />9. All irrigable land held in private ownership by anyone owner in <br />excess of 160 irrigable acres shall be appraised in a manner to be prescribed <br />by the Secretary of the Interior and the sale 'prices thereof fixed by the <br />Secretary on the basis,of its actual bona fide value at the date of appraisal <br />without reference to the construction or proposed construction of the project. <br /> <br />No such excess lands shall receive ~ater from any project or division if the <br />owners thereof refuse to execute valid recordable contracts for the sale of <br />such lands under terms and conditio~s satisfactory to the Secretary of the <br />Interior and at prices not to excee& those fixed by the Secretary of the <br />Interior. Until one-half the construction charges against the lands in the <br />district sball have been paid, no s9-le of any such lands shall carry the right <br />to receive water unless and until the purchase price involved in such sale is <br />approved by the Secretary of the Interior. <br /> <br />These provisions shall remain in effect throughout the term of this contract, <br />unless Congress expressly provides otherwise in legislation modifying or <br />repealing the excess land or other provisions of Reclamation Law. <br /> <br />CONTRACTS ~ITH THIRD,PARTIES <br /> <br />10. (a) The Contractor shall advertise each construction, equipment, or <br />supply contract exceedi'ng $10,000 for competitlve bidding. Upon receipt of <br />bids, any action proposed by the Contractor other than making the award to the <br />lowest responsible bidder shall be subject to review by the Contracting Officer. <br /> <br />(b) The Contractor shall require construction contractors to furnish <br />performance'bonds and payment bonds equal to 100 percent and 50 percent, respec- <br />tively, of the contract amount, for all contracts exceeding $25,000. Supply and <br />equipment contractors may be required to furnish performance bonds on major sup- <br />ply or equipment contracts when the contract calls for substantial progress pay- <br />ments before delivery of end items. <br /> <br />12 <br /> <br />Articles 8, 9, and 10 <br />