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<br />acts of its agents. employees. servants. engineering firms. <br />construction firms. and subcontractors during the performance <br />of this contract. <br /> <br />F. At all times during the performance of this contract. the <br />Contractor shall strictly adhere to all applicable federal. <br />State. and local laws and regulations that have been or may <br />hereafter be established. <br /> <br />G. This agreement is intended as the complete integration of I <br />all understandings between the parties. No prior or <br />contemporaneous addition. deletion. or other amendment hereto <br />shall have any force or effect whatsoever unless embodied <br />herein in writing. No subsequent notation. renewal. addition. <br />deletion. or other amendment hereto shall have any force or <br />effect unless embodied in a written contract executed and <br />approved pursuant to State fiscal rules. <br /> <br />H. In its sole discretion. the State may at any time and in <br />writing give any consent. deferment. subordination. release. <br />satisfaction. or termination of any or all of the Contractor's <br />obligations under this agreement. with or without valuable <br />consideration. upon such terms and conditions as the State may <br />determine to be: (a) advisable to further the purposes of this <br />contract or to protect the State1s financial interest therein. <br />and (b) consistent with both the statutory purposes of this <br />contract and the limitations of the statutory authority under <br />which it is made. <br /> <br />I. Upon completion of repayment to the State in the amount of <br />One Hundred Fifteen Thousand Two Hundred Ninety-Three Dollars <br />and Seventy-Five Cents ($115.293.75). as set forth in paragraph <br />A.13. above of this contract. the State agrees to convey to the <br />Contractor all of the State1s right. title. and interest in and <br />to the project and any other property described in paragraph <br />A.14. above by deed or other proper conveyance. <br /> <br />J. The Colorado Water Conservation Board. its agents and <br />employees. is hereby designated as the agent of the State for <br />the purpose of this contract. <br /> <br />K. The Contractor agrees and understands that sections <br />37-60-119 through 37-60-122. C.R.S.. as amended. require that <br />the loan of money by the State to the Contractor for this water <br />project be conditioned upon the repayment of the loan to the <br />State. The Contractor hereby agrees to take any and all <br />actions necessary to guarantee such repayment as provided <br />herein including. without being limited to. the actions <br />specified in this contract. <br /> <br />L. The Contractor agrees that the specific revenues to be <br />pledged ro repay the State shall include. withour being limited <br />to. an assessment levied for that purpose as authorized by <br />Resolution of the Contractor. The Contractor hereby pledqes <br />such assessment revenues to repay the State loan. warrants that <br />these revenues will not be used for any other purpose. and <br />agrees to provide the State a perfected security interest in <br />the form provided by the State irrevocably pledging such <br />revenues on the date of execution of this contract. <br /> <br />M. The Contractor warrants that it has duly passed. or will <br />pass. a Resolution (EXhibit A) by its Board of Directors. as <br />provided in its By-laws. authorizing: the Contractor to enter <br />into this contract with the State to borrow the principal sum <br />of Sixty-Five Thousand Dollars ($65.000); to levy. and pledge <br />assessment(s) sufficient to pay off this contract loan pursuant <br />to its terms and to discharge this lawful indebtedness; to set <br />aside this assessment revenue in a special fund separate and <br />apart from other Contractor revenues to assure repayment of <br />this revenue to the State; and to sign a security interest in <br /> <br />Page 2 of 10 Pages <br />