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<br />because of acts of Goo or other acts or circumstances beyond the <br />control of the Contractor. <br /> <br />2. Conveyor cauSe title to be conveyed by deed or other proper <br />conveyance to the Colorado Water Conservation Board, Department of <br />Natural Resources; State of Colorado, the following portions of the <br />proposed project facilities: <br /> <br />An undivided For:ty One Hundr:ed Eighty-Ninths (40/189) <br />interest in and to the Yamcolo Reservoir together with <br />all inlet and outlet ditches and structur:es appur:tenant <br />thereto or used in connection therewith. <br /> <br />3. Permit periodic inspection of construction by the authorized <br />representatives of the State during construction and permit the State <br />to review and approve or disapprove any contracts for the construction <br />of the pr:oject or the per:formance of work pursuant to such contracts <br />or subcontracts. <br /> <br />4. Without expense to the State, manage, operate, and maintain <br />the project system continuously in an efficient and economical manner, <br />and assume all legal liability for such management, operation, and <br />maintenance. <br /> <br />5. Make tbe services of said project available within its capacity <br />to all persons in the Contractor's service area without discrimination <br />as to race, color, religion, or natural origin at reasonable cbarges, <br />including assessments, taxes, or fees in accordance with a schedule <br />of such charges, whether for one or more classes of service, formally <br />adopted by the Contractor thr:ough its board of dir:ector:s, as may be <br />modified from time to time by the Contractor. The initial rate <br />schedule must be approved by the State. Thereafter, the Contractor <br />may make such modifications to the rate schedule as. the Contractor <br />deems necessary to efficiently and economically provide for the finan- <br />cial requirements of the system as long as the rate schedule remains <br />reasonable and non-discriminatory, and subject to the approval by the <br />State. <br /> <br />6. Adjust its operating costs and service charges from time to <br />time to provide for adequate operation and maintenance, emergeney <br />repair services, obsolescence reserves, debt service, and debt <br />reserves. <br /> <br />7. Expand the system from time to time to meet reasonable growth <br />or service requirements in the area within its jurisdiction. <br /> <br />8. Provide the State with such periodic reports as it may require <br />and permit per-iodic inspe-ctions of its operations and accounts by a <br />designated r:epresentative of the State. The Color:ado Water: Conservation <br />Board, its agents, and employees, is hereby designated as the agent of <br />the State for: the purposes of this contract. <br /> <br />9. To pur:chase fr:om the State all of the State's right, title, <br />and interest in said project and any facilities thereof at a total <br />purchase price of One Million Seven Hundred Thirty Thousand Four <br />Hundr:ed Dollars ($1,730,400) payable in for:ty (40) annual installments <br />of For:ty-Three Thousand Two Hundr:ed Sixty Dollars ($43,260) each, which <br />,fir:st installment shall be due and payable on September 1, 1981, and <br />year:ly thereafter until the entir:e pr:incipal sum shall have been paid. <br />Said installment payment shall be made payable to the color:ado Water <br />Conservation Board, payable at the offices of said board in Denver, <br /> <br />Colorado. <br /> <br />Page l of 2 pages <br />