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<br />The warranty deed must be recorded by the Contractoc <br />in the proper county or counties and all transfer taxes shall <br />be paid by the Contractor. <br /> <br />6. Permit periodic inspection of construction by <br />authorized representatives of the State during and after <br />.con5truction~ " <br /> <br />7. Without exp~nse to the State, manage, operate, and <br />maintain the project system continuously in an efficient and <br />econofflical manner, and assume all legal liability for such <br />management, operation, and maintenance. ~The Contractor shall <br />maintain general liability insurance covering its management, <br />operation, and maintenance of the project system until it has <br />completen purchase of the project system from the State in at <br />least the following amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of One Hundred Fifty Thousand <br />Dollars ($150,000). <br /> <br />b. For any injury to two or more persons in any <br />single occurrence, the sum of Four Hundred Thousand <br />Dollars ($400,000). <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of said liability <br />insurance must be filed with the Colorado Water Conservation <br />Board prior to the start of the operation of the project <br />system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor's service area <br />without discrimination as to race, color, religion, Qr natural <br />origin at reasonable charges including assessments, taxes, or <br />fees in accordance with a schedule of such charges, whether for <br />one or more classes of service, formally adopted by the <br />Contractor through its board of directors, as may be modified <br />from time to time by the Contractor. The initial rate schedule <br />must be approved by the State. There.after, the Contractor may, <br />subject to the approval of the State,. make such m:>difications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide for the financial <br />requirements of the system as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />9. Adjust its operating costs and service charges from <br />time to time to provide for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, ,and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth Or service requirements in the area within its <br />jurisdiction. <br /> <br />11. <br />require <br />accounts <br /> <br />Provide the State with such periodic reports as it may <br />and permit periodic inspections of its operations and <br />by a designaterl representative of the State. <br /> <br />12. Purchase from the State all of the State's right, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of Two Hundred Sixteen Thousand Three <br />Hundeed Dollars ($216,300) payable in forty (40) annual <br />installments of Five Thousand Four Hundred Seven Dollars and <br />Fifty Cents ($5,407.50) each, which first installment shall be <br />due and payable on June 1, 1984, and yearly thereafter until <br />the entire principal sum shall have been paid. Said <br />installment payments shall be made payable to the Colorado <br />Water" Conservation Board, payable at the offices- of said Board <br />in Denver, Colorado. <br /> <br />Page 3 of 7 Pages <br />