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<br />E. At all times during the performance of this contract, the <br />Contractor shall strictly adhere to all applicable federal and <br />state laws and regulations that have been or may hereafter be <br />established. <br /> <br />F. This agreement is intended as the complete integration of <br />all understandings between the parties. No prior or <br />contemporaneous addition, deletion, or other amendment hereto <br />shall have any force or effect whatsoever unless embodied herein <br />in writing. No subsequent novation, renewal, addition, <br />deletion, or ~ther amendment hereto shall have any force or <br />effect unless embodied in a written contract executed and <br />approved pursuant to state fiscal rules. <br /> <br />G. In its sole discretion, the state may at any time and in <br />writing give any consent, deferment, subordination, release, <br />satisfaction, or termination of any or all of the Contractor's <br />obligations under this agreement, with or without valuable <br />consideration, upon such terms and conditions as the state may <br />determine to be: (a) advisable to further the purposes of this <br />contract or to protect the state's financial interest therein, <br />and (b) consistent with both the statutory purposes of this <br />contract and the limitations of the statutory authority under <br />which it is made. <br /> <br />H. The Colorado Water Conservation Board, its agents and <br />employees, is hereby designated as the agent of the state for <br />the purpose of this contract. <br /> <br />I. The Contractor agrees and understands that sections <br />37-60-119 through 37-60-122, CRS, as amended, require that the <br />loan of money by the state to the Contractor for this flood- <br />control project be conditioned upon the repayment of the loan to <br />the State <br /> <br />J. The Contractor agrees that the specific revenues to be <br />pledged to repay the state shall include, without being limited <br />to, an assessment levied for that purpose as authorized by an <br />ordinance of the Contractor. The Contractor hereby pledges such <br />assessment revenues to first repay the state loan, warrants that <br />these revenues will be used for a public works purpose, and . <br />agrees to provide the state an affidavit from the Town Treasurer <br />proving that said special fund has been created. <br /> <br />K. The Contractor warrants that it has duly passed an ordinance <br />by its town board, as provided by state statues, authorizing: <br />the Contractor to enter into this contract with the state to <br />borrow the principal sum of Three Hundred Thirteen Thousand Five <br />Hundred Thirty Dollars ($313,530), fixing utility rates which <br />will produce revenues sufficient to payoff this contract loan <br />pursuant to its terms and to discharge this lawful indebtedness; <br />the setting aside of this revenue in a special "Public Works <br />Fundll separate and apart from other Contractor revenues to <br />assure repayment of this revenue to the state. <br /> <br />L. The Contractor warrants that in the event of a default by <br />the Contractor in the repayment to the state, and upon written <br />notice thereof from the state, the Contractor shall serve <br />additional revenues in sufficient amount and in a timely manner <br />to cure the default and to repay the state as required by the <br />contract. <br /> <br />M. The Contractor warrants that by acceptance of the loan money <br />pursuant to the terms of this contract and by the Contractor's <br />representation herein, the Contractor shall be estopped from <br />asserting for any reason that it is not authorized or obligated <br />to repay the loan money to the state as required by this <br />contract. <br /> <br />Page & of ~ Pages <br />