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<br />5. In consideration o[ the State assuming a portion or tIle <br />cost of the preparation of the said project feasibility report. <br />the Contractor shall pay to the State the sum of Seventy-Seven <br />Thousand Seven Hundred Dollars ($77.700) provided that <br />construction of the subject water project is initiated within <br />ten (10) years of the date of this contract. The Contractor <br />shall fulfill this obligation irrespective of how or by whom or <br />to what specifications or plans the subject project is <br />financed, paid, or constructed for so long as construction of <br />the project is initiated within the specified time. <br /> <br />6. In the event the Contractor must make payment pursuant <br />to the terms of paragraph 5. above. then the said sum of <br />Seventy-Seven Thousand Seven Hundred Dollars ($77,700) shall be <br />payable in ten (10) equal yearly installments of Seven Thousand <br />Seven Hundred Seventy Dollars ($7,770) each, the first <br />installment to be due and payable upon the January 1st next <br />succeeding the initiation of construction on the said water <br />project. subsequent payments shall be due and payable on <br />January 1st of each year thereafter. <br /> <br />7. This contract is personal in nature and assignment of <br />performance by the Contractor to another is prOhibited unless <br />prior approval in writing is granted by the State. <br /> <br />8. The Contractor is an independent contractor and as such <br />is not entitled to any benefits of the State personnel system. <br /> <br />9. The original contract price stated in paragraph 4. and <br />any additions thereto shall be adjusted to exclude any <br />significant sums by which the State determines the contract <br />price increased due to inaccurate, incomplete, or noncurrent <br />wage rates and other factual unit costs. All such contract <br />adjustments shall be made within one (1) year following the end <br />of the contract. <br /> <br />10. The Contractor warrants that he has not employed or <br />retained any company or person, other than a bona fide employee <br />working solely for him, to solicit or secure this contract alld <br />that he has not paid or agreed to pay any person, company, <br />corporation, individual. or firm, other than a bona fide <br />employee working solely for him, any fee. comm:lssion. <br />percentage, gift, or other consideration contingent upon or <br />resulting from the award or the makj.ng o[ this contract. <br /> <br />11. All notices, correspondence. or other documents <br />required by this contract shall be delivered or mailed to tIle <br />following addresses: <br /> <br />a, <br /> <br />For the Sta te <br /> <br />b. For the Contractor <br /> <br />Mr. J. william McDonald, Director <br />colorado Water Conservation Board <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br />Attn: NiCk IOa!lnides <br /> <br />Farmers Water DeveLopml~rlt <br />company <br />Box: 387 <br />NorwQod, CO 81423 <br />Attn: Hay M. Davis, Pr:e6idl~nt <br /> <br />page ~ of i pages <br />