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It""> V u s. In consideration of the State assuming a portlon of the cost of the preparation of the- said project feasibility report. the Contractor shall pay to the State the sum of Three Thousand Two Hundred Thirty-Seven Dollars and Fifty Cents ($3,237,SO) provided that construction of the sUbject water project is initiated within ten (10) years of the date of this contract. The Contractor shall fulfill this Obligation irrespective of how or by whom or to what specifications or plans the subject project is financed. paid. or constructed for so long as construction of the project is initiated within the specified time. 6. In the event the Contractor must make payment pursuant to the terms of paragraph 5. above. then the said sum of Three Thousand Two Hundred Thirty-Seven Dollars and Fifty Cents ($3.237.S0) shall be payable in ten (10) equal yearly installments of Three Hundred.-Twenty-Three Dollars and Seventy-Five Cents ($323.7Si each, the first installment to be due and payable upon the -Ja ry 1st next succeeding the initiation ot construct' e said water project. Subsequent payments a and payable on January 1st of each year thereaft 7. al in nature and assignment of to another is prohibited unless granted by the State, is is an independent contractor and as such benefits of the State personnel system. 9. The original contract price stated in paragraph 4. and any additions thereto shall be adjusted to exclude any significant sums by which the State determines the contract price increased due to inaccurate. incomplete. or noncurrent wage rates and other factual unit costs. All such contract adjustments shall be maae within one (1) year following the end of the contract. 10. The Contractor warrants that he has not employed or retained any company or person. other than a bona fide employee working solely toe him. to solicit or secure this contract and that he has not paid or agreed to pay any person. company. corporation. individual. or firm. other than a bona fide employee working solely for him. any fee. commission. percentage. gift. or other consideration contingent upon or reSUlting from the award or the making of this contract. 11. All notices. correspondence. or other documents required by this contract shall be delivered or mailed to the fOllowing addresses: a. For the State b. For the Contractor Mr. J. William McDonald. Director Colorado Water Conservation Board 721 State Centennial Building 1313 Sherman Street Denver, CO 80203 Attn: Frank Akers LLoyd Ranch Properties. Inc. 3216 E. Spruce St. Seattle. WA 98122 Attn: Arthur Newman President pa~=~ of ~ Pages ~