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<br />~." <br />. ) <br /> <br />2. Three (3) copies of the final report called for in this <br />contract shall be furnished to the state not later than Ninety <br />(90) days after the date of this contract, unless such time is <br />extended by mutual agreement of the parties hereto in writing. <br /> <br />3. As compensation for the services of the Contractor, the <br />state shall pay to the Contractor the sum of Nine Thousand Five <br />Hundred Seventy-Seven Dollars and Fifty Cents ($9,577.50) <br />in the manner following: <br /> <br />a. Sixty percent (60%), to wit, Five Thousand Seven Hundred <br />Forty-Six Dollars and Fifty Cents ($5,746.50) of the total <br />amount due in two (2) monthly installments of Two Thousand <br />Eight Hundred Seventy-Three Dollars and Twenty-Five Cents <br />($2,873.25) each, commencing thirty (30) days after the date <br />of this contract. <br /> <br />b. The rema~n~ng forty percent (40%), to wit, Three <br />Thousand Eight Hundred Thirty One Dollars ($3,831) within <br />forty (40) days following receipt and acceptance of the <br />written report specified in paragraph 2. of this contract. <br /> <br />4. The total cost of services to be rendered for the <br />Contractor by the Consultant is Nineteen Thousand One Hundred <br />Fifty-Five Dollars ($19,155) and the Contractor shall pay the <br />sum of Nine Thousand Five Hundred Seventy-Seven Dollars and <br />Fifty Cents (9,577.50) as agreed to by letter dated November 4, <br />1992, which is hereby attached and made a part of this contract <br />as Appendix Bi and in no event shall this payment be the <br />liability of the State of Colorado. <br /> <br />5, In consideration of the State assuming a portion of the <br />cost of the preparation of the said project feasibility report, <br />the Contractor shall pay to the State the sum of Twelve Thousand <br />Four Hundred Three Dollars ($12,403) provided that construction <br />of the subject water project is initiated within ten (10) years <br />of the date of this contract. The Contractor shall fulfill this <br />obligation irrespective of how or by whom or to what <br />specifications or plans the subject project is financed, paid, <br />or constructed for so long as construction of the project is <br />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 Twelve <br />Thousand Four Hundred Three Dollars ($12,403) shall be payable <br />in ten (10) equal yearly installments of One Thousand Two <br />Hundred Forty Dollars and Thirty Cents ($1,240.30) each, the <br />first installment to be due and payable upon the January 1st <br />next succeeding the initiation of construction on the said water <br /> <br />Page ~ of i Pages <br />