C153564 Contract

• Contract/PO #: C153564
• Contractor Name: Bauer Lakes Water Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Bill Number: HB 85-1042
• Loan Projects - Doc Type: Contract Documents

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MI:NT OR AGENCY NUMB!c..R
34-04-00
CONTR4CT ROUTING NUMBER

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Frnn 6-AC.a2A (R 51851

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EXHIBIT A

No Encumbrance
TEffi1INATION Terminates Contract No.
CONTRACT C-153431

THIS CONTRACT. made this ;l)( day of \.~ ~A...--v\..(...J 198 q . by and b~lween the
Stale of Colorado for the use and bendil of tile Deparunent of 'I Natural Re-Jources
(Colorado Nater Cnn.c:H~rVr'ltj nn Rn:'lrn 1
hereinafter rl'fe~d 10 as the Stale. and '2 Thp. 'R.::lllpr T ",,\.rpc:: w""t-;:,..,.. f'n""'r"'":'
11747 Co. Rd. 41, Mancos, CO 81328,
hereinaher referred 10 as the contI1lClur./Contractor.

WHEREAS. authorit)' exists in Ute Law and Funds haye been budi!~ted. appropriated and othtrwise made
8vailablt' and a sufficienl unencumbered balance lhen:of remains available for paymenl in Fund Number N In
G/l Accounl NumMr N/A . Contract Encumbrance Number N/A ; and

WHEREAS. re4uired arrnu\':I1. clearance nnd coordination ha~ been accomplished from and with appropriate
.lgencie5: and

WHEREAS. the State and the Contractor entered into a
contract on September 24. 1984 (attached as Exhibit Band
incorporated by reference herein). Which contract shall
hereinafter be referred to as the "feasibility report
contract." in which the State agreed to pay the Contractor Two
Thousand Dollars ($2,000) for the purpose of partially funding
a feasibility report concerning the rehabilitation of the Bauer
No. 1 Dam; and

WHEREAS. the feasibility report contract provided in part
the following terms:

5. In consideration of the State assuming a portion
of the cost of the preparation of the said project
feasibility report. the Contractor shall pay to the
State the sum of Two Thousand Five Hundred Ninety
Dollars ($2.590) provided that construction of the
subject water project is initiated within ten (IO)
years of the'date of this contract. The Contractor
shall fulfill this Obligation irrespective of how. or
by whom. the subject water project is financed or paid
for so long as construction is initiated within the
specified time.

6. In the event the Contractor must make payment
pursuant to the terms of paragraph 5. above. then the
said sum of Two Thousand Five Hundred_Ninety Dollars
($2,590) shall be payable in ten (10) equal
installments of Two Hundred Fifty-Nine Dollars ($259)
each. the first installment to be due and payable upon
the January 1st next succeeding the initiation of
construction on the said water project. Subsequent
payments shall be due and payable on January 1st of
each year thereafter.

WHEREAS. the State and the Contractor intend to enter into
a separate contract (hereinafter referred to as the "project
contract") in which the State will loan the Contractor money
for the purpose of rehabilitating the Bauer No. 1 Dam; and

WHEREAS. Initiation of repairs to the Bauer NO.1 Dam will
create an Obligation on the part of the Contractor to make
payments under the terms. specifically paragraph Nos. 5. and
6.. of the existing feasibility report contract; and

WHEREAS. the parties agree that it would be mutually
beneficial to terminate the Contractorl~ separate Two Thousand
Dollar ($2.000) Obligation under the feasibility report
contract provided that the repayment of the Two Thousand
Dollars ($2.000) (which represents the principal amount

J9s..5}{)~1014

EXHIBIT A to Project Contract
Pa~e I of --L. pa~es

7927E