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<br />d. Complete integration of all understandings. This agreement is intended as the complete integration of all
<br />understandings between the parties. No prior or contemporaneous addition, deletion, or othe~ amendment hereto
<br />shall have any force or effect whatsoever unless embodied herein in writing, No subsequent notation, renewal,
<br />addition, deletion, or other amendment hereto shall have any force or effect unless embodied in a written contract
<br />executed and approved pursuant to STATE fiscal rules.
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<br />e. STATE may release contract. In its sole discretion, the STATE may at any time and in writing give any consent,
<br />deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER'S obligations under this
<br />agreement, with or without valuable consideration, upon such terms and conditions as the STATE may determine to
<br />be: la) advisable to further the purposes of this contract or to protect the STATE'S financial interest therein, and (b)
<br />consistent with both the statutory purposes of this contract and the limitations of the statutory authority under which
<br />it is made.
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<br />f. Hold harmless. The BORROWER agrees to indemnify and hold the STATE harmless from any liability as a result of
<br />the STATE'S security interest in the project facilities,
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<br />g. Casualty and eminent domain, If, at any time, during the term of this contract, (a) the BORROWER'S collateral for
<br />this loan, including buildings, or any portion thereof, are damaged or destroyed, in whole or in part, by fire or other
<br />casualty, or (b) title to or use of the collateral for this loan or any part thereof shall be taken under the exercise of
<br />the power of eminent domain, the STATE and the BORROWER shall cause the net proceeds of any insurance claim or
<br />condemnation award which belong to the BORROWER or over which the BORROWER has any control to be applied to
<br />the prompt replacement, repair and restoration of the collateral for this loan or any portion thereof. Any net proceeds
<br />remaining after such work has been completed shall be paid to the BORROWER, If the net proceeds are insufficient
<br />to pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the work and pay any
<br />cost in excess of the net proceeds.
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<br />h. Contract price adjustment. The original contract price stated in paragraph 3 and any additions thereto shall be
<br />adjusted to exclude any significant sums by which the STATE determines the contract price has been increased due
<br />to inaccurate, incomplete, or noncurrent wage rates and other factual unit costs. All such contract adjustments shall
<br />be made within one (11 year following the STATE'S acceptance of the feasibility study.
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<br />i. Not to terminate, The BORROWER and the TOWN agree not to terminate the Norwood Water Commission, nor
<br />adversely withdraw or deplete its assets, nor otherwise adversely affectthe enterprise's ability to perform during the
<br />term of this contract.
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<br />j. Captions. That the captions and headings contained in this contract are for convenience and reference only and
<br />shall not be construed so as to define or limit the terms or provisions contracted herein.
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<br />k. No sale or conveyance of any collateral until the loan is repaid. The BORROWER shall not sell, convey, assign,
<br />grant, transfer, mortgage, pledge, encumber, or otherwise dispose of the assessment revenues pledged to repay the
<br />loan herein, so long as any of the principal and any accrued interest required by the promissory note provisions of
<br />the contract remain unpaid without the prior written concurrence of the STATE.
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<br />11. Addresses for mailing. All notices, correspondence, or other documents required by this contract shall be
<br />delivered or mailed to the following addresses:
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<br />a, For the STATE
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<br />b. For the BORROWER
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<br />Colorado Water Conservation Board
<br />1313Sherman Street, Room 721
<br />Denver, CO 80203
<br />Attn: William P. Stanton
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<br />Norwood Water Commission
<br />P. O. Box 528
<br />Norwood, CO 81423
<br />Ann: Ralph Weaver, Chairman
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<br />TOWN OF NORWOOD & NORWOOD WA TEA COMMISSION
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<br />Page 5 of 8 Pages
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<br />FEASIBILITY REPORT CONTRACT
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