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<br />10. Upon default in the payments herein set forth to be madp by <br />the Contractor, or in the performaJlce of any covenant or agreement <br />contained herein, the State, at its option, may (a) declare the <br />entire principal amount then outst;mding immediately due and .paY_'lb ['.'; <br />(l~) for t.he aC!.eount of the Contractor incur and pay reasonable (,xj'e1l< 1 ,_, <br />for repair, maintenance) Find opera{d..l:i~'\ Q-€ t:h~ dowes tic water sys L:elH <br />herein described and such other reasonable expenses as may be neCCSS;tl ~y <br />to cure the cause of default; and/or (c) take possession of the ,S)'stpr!l, <br />repair, maintain, and operate or lease it. The provisions of thls <br />contract may be enforced by the State, at its option without reg1i:lrd <br />to prior waivers by it of previous defaults by the Contractor, througll <br />judicial proceedings to require specific performance of this contract <br />or by such other proceedings in law or equity as may be deemed nee.. <br />essary by the State to insure compliance with provisions of this <br />contract and the laws and regulations under which this contract is L\l,'Jde. <br /> <br />B. The State agr:ees that it will: <br /> <br />1. Make available to the Contractor for the purpose of this <br />contract the sum of Nine Hundr:ed Seventy-Nine Thousand Seven Hundred <br />Twenty-Five Dollars ($979,725). Said Nine Hundred Seventy-Nine <br />Thousand Seven Hundr:ed Twenty-Five Dollars ($979,725) shall be made <br />available to the Contractor in accordance with the follmving terms l <br />schedule and conditions: <br /> <br />a. Beginning with the monthly period commencing August t. <br />1979 and for every month thereafter until said project has beel! <br />completed, the Contractor shall prepare with the consulting <br />engineer's help an estimate of the funds required from the State <br />for project construction during that month and shall forward <br />said estimate to'the State not less than fifteen (15) days pd_ol: <br />to the beginning of such month. <br /> <br />b. Upon receipt and approval by the State of such month ly <br />estimate, the State will, within thirty (30) days from the <br />receipt of such estimate) pay over to the Contractor the amount: <br />of the monthly estimate or such portion thereof as has been <br />appr:oved by the State. <br /> <br />2. Assist the Contractor with such technical assistance as t.llf: <br />State: deems appropriate in planning, constructing, and operating UIC <br />project and in coordinating the project with local official compn.". <br />hensive plans for sewer and water and with any state or area plaw;; <br />for the area in which the project is located. <br /> <br />3. In its sole discretion) the State may at any time give any <br />consent, deferment, subordination, release, satisfaction, or ter!\dt1.:~ <br />tion of any or all of the Contractor's obligations under this agree.. <br />ment, with or without valuable consideration, upon such terms and <br />conditions as the State may determine to be (a) advisable to furl-he t- <br />the purposes of this contract or to protect the State's financial <br />interest therein, and (b) consistent with bot1:t the statutory pU1:p0~r'~ <br />of this contract and the limitations of the statutory authority UllL1E' 1 <br />which it is made. <br /> <br />4. Upon completion of the payment of the full purchase pric~ (-n <br />the State in the sum of One Million Seven Hundred Thirty Thousand r n'.11 <br />Hundr:ed Dollar:s ($1,730,400) as set forth in paragraph A. 9. of th i:: <br />contract, to convey to the Contractor all of the State's right, ti~I,' <br />and interest in and to the project by deed or other proper conveymlct" <br /> <br />Page 3 of 5 pages <br />