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<br />the project facilities and any other property identified in <br />paragraph A.l4. below. The Contractor shall maintain <br />comprehensive general liability insurance covering the <br />management, operation. and maintenance of the project from the <br />time it accepts the constructed project as substantially <br />completed until it completes repayment to the State, i$ at <br />least the fOllowing amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of Five Hundred Thousand Dollars <br />($500.000). <br /> <br />b. For $ny injury to two or more persons in any <br />single occurrence. the sum of One Million Dollars <br />($1.000.000). <br /> <br />c. For ,ny damage. to property. the sum of four <br />Hundred Thousand Dollars ($400.000) for each <br />occurrence. <br /> <br />Said general liability insurance shall name the State <br />as a co-insured. A copy of a certificate of said <br />liability insurance must be filed with the State prior <br />to the start of the operation of the project system. <br />Such certificate shall be incorporated herein as part <br />of this contract. <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), whether for one or more classes of service. in <br />accordance with a schedule of such charges formally adopted by <br />the Contractor through its elected officers and. as may be <br />modified from time to time. The initial rate schedule must be <br />approved in writing by the State before any such charges are <br />initially assessed. .Thereafter. the Contractor may. SUbject to <br />the approval of the State. make such modifications to the rate <br />schedule as the Contractor deems necessary to efficiently and <br />economically provide for the financial requirements of the <br />system. including repayment of the State, as long as the rate <br />schedule remains reasonable and non-discriminatory. <br /> <br />9. Pursuant to its By-Laws, adjust its operating costs and <br />service charges and seek from its stockholders sufficient <br />annual assessments from time to time as necessary, upon written <br />notice from the State. to provide sufficient funds for adequate <br />operation and maintenance. emergency repair services. <br />obsolescence reserves, and debt reserves so as to assure <br />repayment of the p~oject loan to the State as provided herein. <br />Should the stockholders fail to set any assessment, the <br />Contractor shall eptablish an adequate assessment for purposes <br />of this contract p~rsuant to C.R.S. 7-42-104(2). <br /> <br />10. Pursuant to its Articles of Incorporation and to its <br />By-Laws. the Board of Directors' of the Contractor has taken all <br />necessary actions consistent therewith to adopt a resolution <br />authorizing the Contractor to contract this loan debt. and <br />authorizing the President and the Secretary to pay the <br />indebtedness. sucn resolution is attached hereto as a part of <br />Exhibit A and incldded herein. The Contractor. through a <br />majority vote of tne shareholders, shall also authorize the <br />contracting of 'thi6 loan debt for Fifty-Five Thousand Dollars <br />($55.000), its/rep~yment by the President and Secretary, the <br />levying of assessments in an amount sufficient to repay and <br />assure repayment of the loan, the execution of a security <br />interest in such assessments in favor of the State. and the <br />execution of the warranty deed and security interest required <br />by the State in pa!agraph A.14. below. Such shareholder <br />authorization is attached hereto as a part of Exhibit A and <br />incorporated herein by this reference. The above conditions <br /> <br />Page 1 of 10 Pages <br />