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<br />any other property identified in paragraph A.5. above. The <br />Borrower shall maintain general liability insurance covering <br />the management, operation, and maintenance of the project until <br />it completes repayment to the State in at least the following <br />amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of Five Hundred Thousand Dollars <br />($500.000) . <br /> <br />b. For any injury to two or more persons in any <br />single occurrence, the sum of One Million Dollars <br />($1,000,000) , <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 <br />Conservation Board prior to the start of the operation <br />of the project system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Borrower's service area without <br />discrimination as to race, color, religion, or natural origin <br />at reasonable charges (including assessments, taxes, or fees), <br />whether for one or more classes of service, in accordance with <br />a schedule of such charges formally adopted by the Borrower <br />through its Board of Directors, as may be modified from time to <br />time. The initial rate schedule must be approved by the <br />State. Thereafter, the Borrower may, subject to the approval <br />of the State, make such modifications to the rate schedule as <br />the Borrower deems necessary to efficiently and economically <br />provide for the financial requirements of the system as long as <br />the rate schedule remains reasonable and non-discriminatory. <br /> <br />9. Adjust its operating costs and service charges from <br />time to time to provide for adequate operati9n and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Provide the State with such periodic reports as the <br />State may require and permit periOdic inspections of its <br />operations and accounts by a designated representative of the <br />State. <br /> <br />11. Repay to the State the total principal sum of <br />Eighty-One Thousand Six Hundred Dollars ($81,600), which <br />includes the project loan amount and the feasibility report <br />amount, together with interest at the rate of five percent <br />(5%) per annum, said repayment to be made in constant annual <br />installments of Two Thousand Forty Dollars ($2,040), each, as <br />shown in Exhibit C, attached hereto and incorporated by <br />reference herein, which first installment shall be due and <br />payable on the first <br />day of the month next succeeding the month in which the State <br />determines that the project has been sUbstantially. completed, <br />and yearly thereafter until the entire principal sum shall have <br />been paid. However, in the event the Borrower does not draw <br />funds commencing on the date specified in paragraph C.l.a. <br />below, the obligation to repay shall be postponed for the same <br />number of months as the Borrower delays in drawing funds. 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. The Borrower pledges its full faith and <br />credit in support of this Obligation and warrants that it has <br />taken all steps necessary to pledge its full faith and credit <br />for this Obligation. <br /> <br />12. Obtain and maintain general fire and hazard insurance <br />on the project in an amount not less than the outstanding <br />amount of the loan made by the State to the Borrower until the <br /> <br />Page 3 of 8 Pages <br />