Laserfiche WebLink
<br />from time to time by the ContcactoL". The initial rate schedule <br />must be approved by the State. Theceafter, the Cont.cactoL" may, <br />subject to the approval of the State, make such modifications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide fOL" the financial <br />L"equiL"ements of the system as long as the .eate schedule L"emains <br />reasonable and non-discriminato.cy. <br /> <br />9. Adjust its operating costs ann se.cvice cha.cges f.com, <br />time to time to provide fo.c adequate ope.cation and maintenance, <br />eme.cgency .cepair se.cvices, obsolescence rese.cves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth o.c se.cvice requi.cements in the a.cea within its <br />jurisdiction. <br /> <br />1l. <br />requi.ce <br />accounts <br /> <br />Provide the State with such periodic reports as it may <br />and permit periodic. inspections of its opeL"ations and <br />by a designated representative of the State. <br /> <br />12. Purchase from the State all of the State's .eight, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of One Huwh-ed Nine Thousand DollaL"s <br />($109,000) payable in forty WJ. annual irlst;allments of Two <br />Thousand Seven Hundced Twenty-Five Dollars r-.$2,725) each, which <br />ficst installment shall be due and payable on July 1, 1983, and <br />yeacly theceafter until the 'entice pc incipal sum shall have <br />been paid. Said installment payments shall be made payable to <br />the Colorado Water Conservation Board, payable at the offices <br />of aain Board in Oenver, Colorado. <br /> <br />13. Obtain and maintain genecal fice and hazard insuL"aJlce <br />on the pcoject system in all 'amount not less than the amount <br />owing to the State for purchase of the pL'oject system until <br />the Contractor has purchased the project system. The State <br />shall be the sole insured of this policy. The purchase price <br />payable to the State shall be reduced in the amount of any <br />payments made to the State under this insurance coverage; if <br />only a pOL'tion of the purchase pc ice is paid to the State undeL" <br />this policy, the number of installment payments shall remain <br />unchanged, however the amount of each payment shall be <br />reduced. <br /> <br />14. Comply with Consteuction Fund Program Procedures <br />attached hereto as Schedule A. <br /> <br />15. Comply with the prOVisions of Section 5 of S.B. 439, <br />1981 Session of the Colorado Genecal Assembly. <br /> <br />B. Upon default in the payments herein set forth to be mane <br />by the Contractor, or in the performance of any covenant or <br />agceement contained herein, the State, at its option, may (a) <br />declace the entice pcincipal amount then outstanding <br />immediately due and payable; (b) foc the account of the <br />Contractor incur and pay ceasonable expenses for repair, <br />maintenance, and operation of the system herein desc.cibed and <br />such expenses as may be necessary to cure the cause of default; <br />and/or (c) take possession of the system, repair, maintain, and <br />operate or lease it. The provisions of this contcact may be <br />enforced by the State at its option without cega.cd to peio.c <br />waivers by it of previous rlefaults by the Contcactor, thL'ough <br />judicial proceedings to cequire specific pecfocmance of this <br />contract oc by such other pcoceedings in law oc equity as may <br />be deemed necessaL'Y by the State to insure compliance with <br />provisions of this contcact and the laws and regulations undeL" <br />which this contL"act is made. <br /> <br />Page 3 of 7 Pages <br />