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{ ~ ,. agrees not to decrease the S150 fees if said reduction would result in the District's inability to make the payment as set forth on Exhibit B attached hereto and made a part hereof. The Contractor further agrees to reasonably increase and to reasonably set its rates to maximize its revenues to the extent necessary to meet its repayment obligations as set forth in Exhibit B. In the event the Contractor does not so adjust its rate, the State shall set such a reasonable rate and the Contractor shall charge and collect such a rate. Each year on or before October 15, the Contractor agrees to submit to the Sta~e its prepared rates for user fees, stand-by fees and hOOKUp fees and its total annual proposed budget for the coming year. 11. Expand the system from time to time to meet reasonable growth or service requirements in the area within its jurisdiction. 12. require accounts Provide the State with such periodic reports as it may and permit periodic inspections of its operations and by a designated representative of the State. I 13. Purchase from the State all of the State's right, title, and interest in said project and any facilities thereof , ~y making payments out Q.Lr~venues from the project, inc1u~ing but not limited to hookup fees, standby charges, and us~r fees.*"The payment to the State is to be according to the ~dule attached as Exhibit B and incorporated herein. At the time that all money owed to the State has been paid in accordance with the schedule, the State shall deed to the Contractor all of its right, title, and interest in the improvements described in paragraph A.6. above free of any encumbrances incurred by the State. ~ 14. Obtain and maintain general fire and hazard insurance on the project system in an amount not less than the amount owing to the State for purchase of the project system until the Contractor has purchased the project system. The State shall be a named insured under this policy to. the extent of the amount of money due and owing to the State under this contract at any given time, provided that the State agrees that any proceeds that it receives from this policy shall first be devoted to r~pair of the damage to the. projet which occasioned the payment under the policy if and only if a satisfactory agreement can be made between the State and the Contractor as to repayment and the necessary legislative appropriations and approvals are made as required by law. 15. Comply with Construction Fund Program Procedures attached hereto as Schedule A. 16. Comply with the provisions of Section 5 of S.B. 439, 1981 Session of the Colorado General Assembly. 17. Not sell, convey I assign, grant, transfer, or otherwise dispose of the project or any portion thereof, so long as any of the annual installments required by paragraph A.12. above remain unpaid, without the prior written concurrence of the State. 18. Indemnify and hold the State harmless from any judgment resulting from any lawsuit or other legal actions filed against the State by any aubcontractor or other. provider of services or materials for or to the project. Furthermore, at the State's antion, the Contractor shall conduct the legal defense for the State in such a suit at its own exoense or refund to the State its reasonable legal fees and costs if the State elects to conduct its own defense. 19. Provide a special fund described as the Irrigation Service Fee Fund and deposit all revenues from the project as "~~J )"~;'" /,,, . * ^~J..-~ . . -'\1.,/' _,5~'l , Page 5 of 10 pages The full faith and credit of the ~ontractor are not contemplated by this contract. pledged for repayment