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<br />does not draw funds commencing on the date specified <br />in paragraph C.I.a. below. the obligation to repay <br />shall be postponed for the same number of months as <br />the Contactor delays in drawing funds. Said <br />installment payments shall be made payable to the <br />Colorado Water Conservation Board. payable at the <br />offices of said Board in Denver. Colorado. The <br />Contractor pledges its full faith and credit in <br />support of this Obligation and warrants that it has <br />taken all steps necessary to pledge its full faith land <br />credit for this Obligation. <br /> <br />C. The State agrees that it shall: <br /> <br />1. Loan to the Contractor for the purpose of this <br />contract an amount not to exceed One Hundred Five <br />Thousand Two Hundred Seven Dollars and Thirty-Seven <br />Cents ($105.207,37). Said One Hundred Five <br />Thousand Two Hundred Seven Dollars and Thirty-Seven <br />Cents ($105,207,37) shall be made available to the <br />Contractor in accordance with the following terms <br />and conditions: <br /> <br />a. Beginning with the monthly periOd <br />commencing December 1. 1985. and for every <br />month thereafter until said project has been <br />completed. the Contractor shall prepare. with <br />the assistance of the engineering firm referred <br />to in paragraph A.l. above. an estimate of the <br />funds required from the State for project <br />construction during that month and shall <br />forward said estimate to the State not less <br />than fifteen (15) days prior to the beginning <br />of such month. <br /> <br />b. Upon receipt and approval by the State of <br />such monthly estimate. the State will. within <br />forty (40) days from the receipt of such <br />estimate. pay over to the Contractor the amount <br />of the monthly estimate or such portion thereof <br />as has been approved by the State. <br /> <br />c. No payments will be made under this <br />contract until the project plans and <br />specifications referred to in paragraph A.l <br />above are approved by the State. <br /> <br />d. Payment under this paragraph C. is <br />contingent on matching funds being provided for <br />the project by the Contractor. <br /> <br />. <br /> <br />I. Upon completion of the repayment to the State in <br />the sum of Two Hundred Forty-Five Thousand Two Hundred <br />Fifty-One Dollars and Sixty Cents ($245,251.60), as set <br />forth in paragraph A.ll. of this contract. the State <br />agrees to convey to the Contractor all of the State's <br />right, title. and interest in and to the project and <br />any other property described in paragraph A.5. by deed <br />or other proper conveyance. <br /> <br />3. The effective date of this contract is one week <br />after the day it is dated. <br /> <br />4. In the event of any conflict. inconsistency. <br />variance. and incongruity between the provisions of this <br />contract amendment and any of the provisions of the <br />Original Contract. the provisions of this contract <br />amendment shall in all respects supersede. govern. and <br />control. <br /> <br />Page ~ of ~ Pages <br />