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<br />as Ehown in the reservoir and vicinity map, Appendix A. <br /> <br />3. Permit periodic inspection of construction by the authori:,;;ed representa- <br />tives of the State during construction and permit the State to review and approve <br />or disapprove any contracts for the construction of tl1e project or the pQrfocmance <br />of work pUrsuant to such contracts or subcontracts. <br /> <br />4. Without expense to the State, manage, operate, and maintain the project <br />liability for such management, operation and maintenance. <br /> <br />5. Make the services of said project available wiLhin its capacity to all <br />persons in the Contractor's service area without discrimination as to rape, color, <br />religion, or natural origin .:It reasonable charges, including assessUlents, taxes, <br />or fees in accordance with a schedule of such charges, whether for one or more <br />classes of service, formillly adopted by the Contractor through its board of <br />directors, as may be mOdified from time to time by the Contractor. The initial <br />rate schedule must be approved by the State. Thereafter, the Contractor may <br />make such modifications to the rate schedule as the contractor deems necessary <br />to efficiently and economically provide for the financial requirements of the <br />system as long as the rate schedule remains reasonable and non-discriminatory. <br /> <br />6. Adjust its operating costs and service charges from time to time to <br />provide far adequate operation and maintenance, emergency repairs services, <br />obsolescence reserves, debt service, and debt reserves. <br /> <br />7. Expand the system from time to time to meet reasonuble growth or service <br />requirements in the area within its jurisdiction. <br /> <br />8. Provide the State with such periodic reports as ~t may require and permit <br />periOdic inspections of its operations and accounts by a designated representutive <br />of the State. The Colorado Water Conservation Board, its agents, and employees, <br />is hereby designated a$ the agent of the State for the purposes of this contract. <br /> <br />9. To purchase from the State all of the State's right, title, und interest <br />in said project and any facilities thereof at a total purchase price of One <br />Million Seventy-Three Thousand Eight lIundred Eighty-Si>' Dollilrs and 'l'wentY:"'l"our <br />Cents ($1,073,886.24)payable in forty (40) annual installments of TwentY-Six <br />'l'housand Eight Hundred porty-Seven Dollars and Sixteen Cents ($26,847.16) each, <br />which first installment shall be due and payable on September I, 1982, and yearly <br />thereafter until the entire principal sum shall have b~en paid. Said installment <br />payment shall be made payable to the Colorado Water Co~servation Board, payable <br />at the offices of said Board in Denver, Colorado. <br /> <br />10. Upon default in the payments herein set forth to be made by the Contractor, <br />or in the performance of 'any covenant or agreement con~ained herein, the State, <br />at its option, rnoy (a) declare the entire principal amOunt then outstanding <br />immediately due and payable (b) for the acqount of the Contractor incur and pay <br />roo-sonable expenses for repair, mainb!h!lt1ce; and operation of the wate!:" system <br />herein described and such other reasonable expenses as may be necessary to cure <br />the cause of default; and/or (c) take possession of the system, repair, maintain, <br />and operate or lease it. The provisions of this contr8ct may be enforced by the <br />State, at its option without regard to prior waivers by it of previous defaults <br />by the Contractor, through judicial proceedings to req~ire specific performance <br />of this cOntract or by such other proceedings in law ot equity as may be deemed .., <br />necessary by the State to insure compliance with provisions of this contract and <br />f:ho laws and regulationS under which this contract is l1lade. <br /> <br />B. The State agrees that it will: <br /> <br />1. Make available to tr.,_~ Contractor for the purpose of this contract the <br />sum of Six Hundred Twenty- Thousand Six Hundred Dollars ($620,600). Said Six <br />Hundred Twenty Thousand Six Hundred Dollars ($620,600) shall be made nvail"l:"'Ilp. <br />LV LillO: (;U!lt.lactor in accordance with the following terI1lS, schedule and conditions. <br /> <br />(a) Beginning with the ~onthly periOd commencing September 15, 1980, <br />and for every month thereafter until said project has been completed, <br />the Contractor shall prepare with the consulting engineer's help, an <br />estimate of the funds required from the State for project construction <br />during that month and shall forward said estimates to the State not <br />less than fifteen (15) days prior to the beginning of such month. <br /> <br />(b) Upon receipt and aPProval by the State of such monthly estimate, <br />the state will, within forty (40) days from the receipt of such <br />estimate, pay over to the Contractor the amount of the monthly estimate <br />or such portion thereof as has been approved by the State. <br />Page ~ of ~ pages <br />