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<br />..~~-, <br /> <br />funds commencing on the date specified in paragraph <br />C.I.a. below. the obligation to repay shall be <br />postponed for the same number of months as the <br />Contactor delays in drawing funds. Said installment <br />payments shall be made payable to the Colorado Water <br />Conservation Board. payable at the offices of said <br />Board in Denver. Colorado. The Contractor pledges its <br />full faith and cre~it in support of this obligation and <br />warrants that it has taken all steps necessary to I <br />pledge its full faith and credit for this obligation. <br /> <br />C. The State agrees that it shall: <br /> <br />1. Loan to the Contractor for the purpose of this <br />contract an amount not to exceed Ninety Thousand <br />Seventy-One Dollars and Forty-Two Cents ($90.071.42). <br />Said Ninety Thousand Seventy-One Dollars and Forty-Two <br />Cents ($90,071.42) shall be made available to the <br />Contractor in accordance with the following terms and <br />conditions: <br /> <br />a. Beginning with the monthly period commencing <br />January 15. 1987. and for every month thereafter <br />until said project has been completed. the <br />Contractor shall prepare. with the assistance of <br />the engineering firm referred to in paragraph A.I. <br />above. an estimate of the funds required from the <br />State for project construction during that month <br />and shall forward said estimate to the State not <br />less than fifteen (is) days prior to the beginning <br />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 <br />the Contractor the amount of the monthly estimate <br />or such portion thereof as has been approved by the <br />State. <br /> <br />c. No payments will be made under this contract <br />until the project plans and specifications referred <br />to in paragraph A.I above are approved by the State. <br /> <br />d. Payment under this paragraph C. is contingent <br />on matching funds being provided for the project by <br />the Contractor. <br /> <br />I. Upon completion of the repayment to the State in <br />the sum of Two Hundred Nine Thousand Nine Hundred <br />Sixty-Eight Dollars ($209.968), as set forth in <br />paragraph A.II. of this contract. the State agrees to <br />convey to the Contractor all of the State's right. <br />title. and interest in and to the project and any other <br />property described in paragraph A.S. by deed or other <br />proper conveyance. <br /> <br />3. The effective date of this contract is one week <br />after the day it is dated. <br /> <br />4. In the event of any conflict. inconsistency, <br />variance, and incongruity between the provisions of this <br />contract amendment and any of the provisions of the <br />Original Contract. the provisions of this contract <br />amendment shall in all respects supersede. govern. and <br />control. <br /> <br />..r. ~ <br /> <br />Page ~ of ~ pages <br />