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PROJC00983
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Last modified
3/27/2014 11:52:30 AM
Creation date
10/6/2006 12:16:39 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C153663
Contractor Name
Hudson, Town of & Hudson Water Fund Entrprise
Contract Type
Loan
Water District
1
County
Weld
Bill Number
SB 78-69
Loan Projects - Doc Type
Contract Documents
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<br />", , <br />~"",:, <br />, <br /> <br />:) <br /> <br />SWSP Enterprise to pay for additional preconstruction costs not included in the <br />payments set forth in paragraph 6.a. above, if any, and to pay for change orders under <br />the construction contracts made necessary by changed or unforeseeable conditions, <br />delays or other claims by the contractors (provided that the SWSP Enterprise shall <br />reasonably pursue claims against third parties who may be liable for part or all of <br />said delays or claims) and 2) shall deposit in an interest bearing escrow account <br />mutually acceptable to the SWSP Enterprise and the Allottee an additional five percent <br />(5%) of the Allottee's Construction Costs (or Allottee shall deposit such amount in <br />twelve (12) equal monthly installments, at its option, commencing on the date of <br />payment of the Allottee's Construction Costs) to be released upon mutual agreement of <br />the SWSP Enterprise and Allottee for payment of change orders or other charges for <br />Pipeline construction. The escrow account shall be terminated and any unused funds <br />returned to the Allottee, and the SWSP Enterprise shall refund to the Allottee any <br />portion of the five percent (5%) paid to the SWSP Enterprise pursuant to item 1) above <br />that is not used, when construction of the Pipeline has been finally completed, all <br />contractors have been finally paid and all claims have been settled. <br /> <br />ii. At such time that it appears that the five percent (5%) fund provided in paragraph <br />6.b.i., item 1), will be depleted, the SWSP Enterprise shall give at least fifteen <br />(15) days advance written notice to all Participants accompani~ by reasonable <br />information regarding past change orders and the possible need for additional change <br />orders, and may request additional contributions from the escrow account described <br />in paragraph 6,b.i., item 2), or from other sources if the escrow account has been <br />depleted. In the event that no Participant agrees to provide the additional funds, <br />the SWSP Enterprise shall either complete construction of the Project, if possible, <br />with the remaining funds available to it or proceed in accordance with paragraph 17 <br />below. In the event that one or more Participants agrees to provide the additional <br />funds, the SWSP Enterprise shall request in writing that all Participants provide <br />their pro rata share of the additional funds and proceed pursuant to paragraph <br />6.b.iii. below. <br /> <br />iii. Within thirty (30) days after the SWSP Enterprise's written request pursuant to <br />paragraph 6.b.ii. above, Allottee shall pay the SWSP Enterprise such additional funds <br />as are necessary to complete construction of the Pipeline. The requirement to pay <br />such additional swns shall be subject to annual appropriations or budgets of such swns <br />by the Allottee. If Allottee is unable or unwilling to make such requested payments, <br />Allottee shall automatically lose a portion of its allotted capacity in the Pipeline <br />pursuant to the procedures set out in paragraph 8.b.i. below, and the Allottee shall <br />have no further obligation to pay such swns or additional future swns related to the <br />lost portions of its allotted capacity. <br /> <br />iv. The SWSP Enterprise shall deposit all funds provided by the Allottee pursuant to <br />paragraphs 6.b., 6.b.i., 6.b.ii. and 6.b.iii. above in an interest bearing account and <br />shall credit the Allottee with the interest earned on said funds. <br /> <br />v. Allottee agrees to make payment of, pursuant to the procedures set out in paragraph <br />8.a. below and subject to paragraph 8.b. below, its share of annual charges and costs <br />incurred by the SWSP Enterprise in the administration, operation, maintenance, repair, <br />and replacement of the Pipeline and such other annual costs as may arise from and be <br />attributable to the operation of the Pipeline. <br /> <br />vi. Allottee agrees to Bake payment of, pursuant to the procedures set out in paragraph <br /> <br />8 <br />
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