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<br />rorm 6.AC-02.... (k )IR~l <br />1 ~_..' " Handy n'lelch) Dam <br />. West (Ho. 1) <br /> <br />DE-.f ME-..'I r OK AGENCY ....U.\IBl-.R <br />~DII <br /> <br />TERMINIITION <br />CONTRACT <br /> <br /> <br />THIS CONTRACT, madl" lhis .A'yA day or }""7 19 91. bv and between rhe <br />Sial(' or Colorado ror Ihe u!\e and benefil of Ihe DeparJrn~fu of . Natural Resources <br />(Colorado Water Conservation Board) I <br />hereillafll"C fl'ff'rred III as Ihe SI31(, and.2 The Hand\' oi tch Conoan'!. <br />P. O. Box 1079, Berthoud, CO 80513, <br /> <br />hl"rt"inafl~'r rdcrred 10 OIl> Ihe conrraClor !Contractor. <br /> <br />WHEREAS, aUlhority exists in the Law and Funds ha...e been budgeted, approprialed and olherwise made <br />.v"jlable and a suHicienl unencumbered balance Ihereof remains a...ailable for paymenl in Fund I\!umber ~J .fA <br />G/L Accuunl Number N/A. (ontracl Encumbrance Number Nlll" : and <br /> <br />WHEREAS. retluin'd approv..1. dearance and coordination ha~ been accomplished from and wilh appropciate <br />agrnC"les: :lnd <br /> <br />WHEREAS, the state and the Contractor entered into a <br />contract on October 23, 1990 (attached as Exhibit Band <br />incorporated by reference herein), which contract shall <br />hereinafter be referred to as the "feasibility report contract, II <br />in which the State agreed to pay the Contractor six Thousand <br />Dollars ($6,000) for the purpose of partially funding a <br />feasibility report concerning the rehabilitation of the Handy <br />(Welch) Dam West (No.1); and <br /> <br />WHEREAS, the feasibility report contract provided in part <br />the following terms: <br /> <br />5. In consideration of the State assuming a portion <br />of the cost of the preparation of the said project <br />feasibility report, the Contractor shall pay to the <br />State the sum of Seven Thousand Seven Hundred Seventy <br />Dollars ($7,770) provided that construction of the <br />subject water project is initiated within ten (10) <br />years of the date of this contract. The Contractor <br />shall fulfill this obligation irrespective of how or by <br />whom or to what specifications or plans the subject <br />project ip financed, paid, or constructed for so long <br />as construction is initiated within the specified time. <br /> <br />6. In the event the Contractor must make payment <br />pursuant Co the terms of paragraph 5. above, then the <br />said sum of Seven Thousand Seven Hundred Seventy <br />Dollars ($7,770) shall be payable in ten (10) equal <br />yearly inetallments of Seven Hundred Seventy-Seven <br />Dollars ($777) each, the first installment to be due <br />and payable upon the January 1st next succeeding the <br />initiation of construction on the said water project. <br />Subsequent payments shall be due and payable on January <br />1st of each year thereafter. <br /> <br />.:). <br /> <br />WHEREAS, the state and the Contractor intend to enter into a <br />separate contract (hereinafter referred to as the "project <br />contractU) in which the State will loan the Contractor money <br />for the purpose of rehabilitating the Handy (Welch) Darn West <br />(No.1); and <br /> <br />WHEREAS, initiation of construction to perform this <br />rehabilitation work will create an obligation on the part of the <br />Contractor to make payments under the terms, specifically <br />paragraph Nos. 5. and 6., of the existing feasibility report <br />contract; and <br /> <br />WHEREAS, the parties agree that it would be mutually <br />beneficial to terminate the Contractor's separate <br />Seven-Thousand-Seven-Hundred-Seventy-Dollar ($7,770) obligation <br />under the feasibility report contract provided that the <br />. repayment of the Six Thousand Dollars ($6,000) (which represents <br /> <br />J95-5J<n.l0-14 <br /> <br />P3~e I of ~ pages <br />EXHIBIT A <br /> <br />bj4304 <br />