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<br />b. For any injury to two or more persons in any <br />single occurrence, the sum of four Hundred Thousand <br />Dollars ($400,000), <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of said liability <br />insurance must be filed with the Colorado Water Conservation <br />Board prior to the start of the operation of the project <br />system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor's service area <br />without discrimination as to race, color, religion, or natural <br />origin at reasonable charges including assessments, taxes, or <br />fees in accordance with a schedule of such charges, whether for <br />one or more classes of service, formally adopted by the <br />Contractor through its board of directors, as may be modified <br />from time to time by the Contractor. The initial rate schedule <br />must be approved by the State. Thereafter, the Contractor may, <br />subject to the approval of the State, make such modifications <br />to the rate schedule as the Contractor deems necessary to <br />efficiently and economically provide for the financial <br />requirements of the system as long as the rate schedule remaIns <br />reasonable and non-discriminatory. <br /> <br />9. Adjust its operating costs and service charges from <br />time to tIme to provide for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth or service requirements in the area within its <br />jurisdiction. <br /> <br />11. <br />require <br />accounts <br /> <br />Provide the State with such periodic reports as It may <br />and permit periodiC inspections of its operations and <br />by a designated representative of the State. <br /> <br />-------- <br /> <br />12. Purchase from the State all of the State's right, <br />title, and interest in said project and any facilities thereof <br />at a total purchase price of One Hundred Seventy-Three Thousand <br />Forty Dollars ($173,040) payable In Forty (40) annual <br />installments of Four Thousand Three Hundred Twenty-Six Dollars <br />($4,326) each, which fIrst installment shall be due and payable <br />on August 15, 1983 , and yearly thereafter until the entire <br />prIncipal sum shall have been paid. Said installment payments <br />shall be made payable to the Colorado Water Conservation Board, <br />payable at the offices of said Board in Denver, Colorado. <br /> <br />\ <br />\ <br />I <br />! <br /> <br />13. Obtain and maintain general fire and hazard insurance <br />on the project system in an amount not less than the amount <br />owing to the State for purchase of the project system until <br />the Contractor has purchased the project system. The State <br />shall be the sole insured of this policy. The purchase price <br />payable to the State shall be reduced in the amount of any <br />payments made to the State under this insurance coverage; if <br />only a portion of the purchase price is paid to the State under <br />this policy, the number of installment payments shall remain <br />unchanged, however the amount of each payment shall be <br />reduced. <br /> <br />14. Comply with Construction Fund Program Procedures <br />attached hereto as Schedule A. <br /> <br />15. Comply with the provIsions of Section 5 of S.B. 439, <br />1981 Session of the Colorado General Assembly. <br /> <br />B. Upon default in the payments herein set forth to be made <br />by the Contractor, or in the performance of any covenant or <br /> <br />Page 3 of 7 Pages <br />