PROJ00440

• Contract/PO #: C153572
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

)
,

f_ b-A,C-01A 1ft ~/1l~l

I/C'103/1/

UH'All:IMENT Oil: A(;l:/'.CY ."<U....IlUt

;,

34-04-00
CO~ I "ACT ROl:TINC NllMlifll.
'() 1/50
No Encumbrance
'('erminates C-153497
(Routing No. 88007)
.2Z d '
THIS CONTRACT. made this .77 day of ~h................ .....~ 19Yt2- . b,' and bel ween the
Stale of Colol1ldo for the Uloe and henefic of Ijlt~ Oeparlmenl of"' aturfll Rp.s()nrr~c:
(Colorado Water Conservation Board) .
hereinafter I'f'fl!'m:d 10 as lhe Slale. and '2 ~~ North Poudre Trrination Comnany
P. O. Box 100, Wellincrton, CO 80549.
hel't'lRnher referred fO as the COntraClor /Contractor.

~XHIB:rT A

TER14INATION
CONTRACT

WHEREAS. i1l1lhorilY exists in the Law and Funds have been budgeled. appropriau:d and otherwise made
available and a surficienl unencumbered balance thereof remains available for pavmenl in Fund I\umher N I'"
elL Accounl Number N/A . (ontraCI Encumbranc~ Numb~r N IA : and

WHEREAS. re-quired ..ppw.....1. c1e:Jr:Jnce and conrdinalion has been accomplished from and wifn appropriale
"se-ncic5: and

WHEREAS. the State and the Cont~actor entered into a
contract on July 20. 1987 (attached as Exhibit Band
incorporated by reference herein). which contract shall
hereinafter be referred to as the "feasibility report
contract. II in which the State agreed to pay the Contractor
Nine Thousand Eight Hundred Eighty-Five Dollars ($9.685) for
the purpose of partially funding a feasibility report
concerning the repair of its No. 2 Dam for the irrigation
company; and

WHEREAS. the feasibility report contract provided in part
the following terms:

5. In consideration of the State a~suming a portion
of the cost of the preparation of the said project
feasibility report. the Contractor shall pay to the
State the sum of Twelve Thousand Eight Hundred One
Dollars ($12.801) 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. the subject water project is financed or paid
for so long as construction 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 Twelve Thousand Eight Hundred One Dollars
($12.801) shall be payable in ten (10) equal
installments of One Thousand Two Hundred Eighty Dollars
and Ten Cents ($1.280.10) each. the first installment
to be due and payable upon the January 1st next
succeeding the initiation of construction on the said
water project. Subsequent payments shall be due and
payable on January 1st of each year thereafter.

WHEREAS. the State and the Contractor intend to enter into
a separate contract (hereinafter referred to as the I'project
contract'l) in which the State will loan the Contractor money
for the purpose of repairing the No.2 Dam; and

WHEREAS. initiation of construction to repair the NO.2 Dam
will create an Obligation on the part of the Contractor to make
payments under the terms. specifically paragraph Nos. 5. and
6.. of the existing feasibility report contract: and

WHEREAS. the parties agree that it would be mutually
beneficial to terminate the Contractor's separate obligation
under the feasibility report contract provided that the
repayment of the Nine Thousand Eight Hundred Eighty-Five
Dollars ($9.885) (whiCh represents the principal amount

39S-S){)1-1014

1l69E'"

Page 1 of -.L p3!!eS
EXHIBIT ~.