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b. A 14 inch diameter 4,200 foot line with all appurtenances to be located between the tank in a. and the end of the existing water system. c. An altitude control valve and vault for the system. d. Electronic equipment for remote reading. A description of the location of the project facilities is included in the map in Appendix A. 3. Permit periodic inspection of construction by the authorized representatives of the State during construction and permit the State to review and approve or disapprove any contracts for the construction of the project or the performance of work pursuant to such contracts or subcontracts. 4. Without expense to the State, manage, operate, and maintain if the project system continuously in an efficient and economical manner, ' and assume all legal liability for such managewent, operation, and ~ maintenance. 5. Make the serVices of said project available within its capacity to all persons in the Contractor's service area without discrimination as to race, color, religion, or natural origin at reasonable charges, including assessment~, taxes, or fees in accordance with a schedule of such charges, whether for one or more classes of service, formally adopted by the Contractor through its board of directors, as may be modified from time to time by the Contractor. The initial rate schedule must be approved by the State. Thereafter, the Contractor may make such modifications to the rate schedule as the Contractor deems necessary to e~ficiently and economically provide for the finan- cial requirements of the system as long as the rate schedule remains reasonable and non-discriminatory, and subject to the approval by the State. 6. Adjust its orerating costs and service charges from time to time to provide for ~dequate operation and maintenance, emergency repair services, obsolescence reserves, debt service, and debt reserves. 7. Expand the system from time to time to meet reasonable growth or service requireme~ts in the area within its jurisdiction. 8. Provide the 5tate with such periodic reports as it may require and pe~it periodic inspections of its operations and accounts by a designated represent~tive of the State. The Colorado Water Conserva- tion Bo~rd, its agen's, and employees, is hereby designated as the agent of the State for the purposes of this contract. 9. To purchase trom the State all of the state's right, title, and interest in said project and any facilities thereof at a total purchase price of Four Hundred Thirty Two Thousand Six Hundred Dollars ($432,600), payable in Forty (40) annual installments of Ten Thousand Eight Hundred Fifteen Dollars ($10,815) each, which first installment shall be due and payable on October 1, 1981, and yearly thereafter until the entire principal sum shall have been paid. Said installment payment shall be made payable to the Colorado Water Conservation Board, payable at the officeS of said board in Denver, Colorado. 10. Upon default in the payments herein set forth to be made by the Contractor, or in the performance of any covenant or agreement contained her~in, the State, at its option, m~y (a) declare the entire principal amount then outstanding immediately due and payable; (b) for the account of the contractQf incur and pay reasonable expenses for repair, maintenance, and operatioh-of the dome~t1c water system herein described and such other reasonable expenses as may be necessary to cure the cause of default; and/or (c) take possession of the system, repair, maintain, and operate or lease it. The provisions of this contract may be enforced by the State, at its option without regard to prior waivers by it of previous defaults by the Contractor, through judicial proceedings to require specific performance of this contract Page 1 of 1 pages