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provided in paragraph 8.a. above. c. The Allottee's paYlllent of annual administration, operation, maintenance, repair and replacement charges and costs of the Pipeline, pursuant to the preceding paragraphs 6.b.v., 6.b.vi., 8.a. and 8.b., does not in any way impair the vested nature of the allocation of capacity pursuant to this Contract and are not related to the value of that vested right. These obligations do not convert the Allottee's prepaid right of possession of its allotted capacity in the Pipeline into any form of an executory lease or contract. 9. Completion Date. Attached hereto as Exhibit 2 is a time line for construction and completion of the Pipeline. The time line may be modified for good cause. Tbe SWSP Enterprise shall complete construction of the Pipeline in accordance with the time line as ~odified, subject to force majeure events, failure of the Participants to make required payments under this or similar contracts and so long as the delay is not as a direct or indirect result of SWSP Enterprise's negligence, delays beyond the SWSP Enterprise's reasonable control occurring in the right-of-way acquisition process or caused by the construction process or the construction contractors. In addition, the completion date is subject to change based upon mutual agreement of all of the Participants, as conditions and availaPle information warrant. 10. Construction and Financial Reports and Heetinas. The SWSP Enterprise will provide Allottee with written monthly reports together with financial reports regarding payment of charges and costs and expenditures during construction of the Pipeline on the progress of construction and the expenditure of funds. In addition, the SWSP Enterprise shall schedule and hold meetings of all Participants at the offices of the District in Loveland, Colorado, at least quarterly at which time the SWSP Enterprise shall present and discuss the financial reports regarding payment of charges and costs by the Participants and the expenditure of funds. 11. Limitations on Riahts of Allottee. In addition to all the other terms, conditions and covenants contained herein, it is specifically understood and agreed by and between the parties hereto that the rights of the Allottee hereunder are subject to the following terms, conditions and limitations, which are incorporated herein by this reference: a. . The Water Conservancy Act of Colorado, C.R.S II 37-45-101 et sea.; and b. The rules, regulations and policies of the Board and the same as may be amended from time to time, provided that to the extent such future rules, regulations and policies adversely affect the Allottee's rights hereunder or its rights to use the capacity contracted for in any lawful manner, such future rules, requlations or policies shall not be enforceaPle against Allottee. 12. Transfer of Allotment. Allottee shall have the right to permanently assign or transfer all or any part of its allotment of capacity hereunder, for such consideration as Allottee in its sole discretion may establish, subject to the terms and conditions of this Contract to another Entity that is financially able to perform this Contract with the prior written consent of the Board, which shall not be unreasonably withheld. Allottee may, in its sole discretion, lease, sublease, pledge a security interest in a lease, or pledge or encumber all or a portion of its allotment of capacity hereunder to another Entity subject to the terms and conditions of this Contract without prior approval of the Board. Allottee shall be relieved of its obligations hereunder to the extent of any permanent transfer of capacity, except as otherwise provided herein. Promptly following any lease, sublease, assignment, pledge or other hypothecation, the lessee, sublessee, assignee, pledgee, etcetera, as applicable, shall deliver to the SWSP Enterprise a written notice and acknowledgement in the form of Exhibit 3 attached hereto. This Contract is made for the exclusive benefit of the Allottee and 11