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<br />-' <br /> <br />5. In consideration of the State assuming a portion of th~ <br />cost of the preparation of the said project feasibility report, . <br />the Contractor, shall pay to the State the sum of. Thirty-Eight <br />Thousand Two Hundred Two Dollars and Fifty Cents (S39,202.50), <br />provided that construction of the subject water project is <br />initiated within ten (10) years of the nate of this contract. <br />The Cont~actor shall fulfill this obligation irrespective of how, <br />or by whom, the subject water project is financed or paid for so <br />long as construction is initiated by the Contractor within the <br />specified time: Provided, however, that the Twenty-Nine Thousand <br />Five Hundred Dollars ($29.,500) to be pain the Contractor by the <br />State shall,' pursuant to section 37-60-122 (l)(c), Co16rado <br />Revised Statutes, be considered a part of the total cost of any <br />project which is subsequently authorized by the Colorado General <br />Assembly and constructed hy the Co~tractor wi~h monies provided <br />from the Colorado Water Conse'rvation_ Board construction fund <br />rather than being subject to the foregoing provision for payment <br />to the State. <br /> <br />6. In the event the Contractor must make payment pursuant to <br />the terms 9f paragraph 5 above, then the said sum of Thirty-Eight <br />Thousand Two Hundred Two Dollars and Fifty Cents ($38,202.50) <br />shall be payable in ten (10) equal yearly installments of Three <br />Thousand Eight Hundred Twenty Dollars and Twenty~Five Cents <br />($3,820.25) each, the first installment to' be due and payable <br />upon the January 1st next succeeding the in.itiation of <br />construction on the said wat'er project. Subsequent payments <br />shall be due and payable on 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 gra-hted by the State. <br /> <br />8. The Contractor. is' an innependent contractor and as such <br />is not entitled to any benefits of the State personnel syst~m. <br /> <br />9. All notices, correspondence or o~her,documents required <br />by this contract shall be delivered or. mailed to the following <br />addresses: <br /> <br />(a) For toe State <br /> <br />(bl For the Contractor <br /> <br />Colorado Water Conservation Board <br />723 State Centennial Building <br />1313 Sherman Street <br />Denver, CO 80203 <br />Attn: Nick Ioannides <br /> <br />San Miguel Water <br />Conservancy District <br />Box 36 ' <br />Redvale, CO R1431 <br />Att~: William E. Bray <br />President <br /> <br />Page '2,of 4 Pages <br />