PROJC01276

• Contract/PO #: C153517
• Contractor Name: Lone Cabin Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

EXHIBIT A

1k;- ( -" d-.
DE. ;MENT OR AGENCY ~UMBER
34-04-00

Foml 6.AC~2A {R "8S}

TERMINATION
CONTRACT

THIS CONTRACT, made- Ihis 13th day of Julv 198..],.. by and bel ween the
Slale of Colorado for (he U!>e and bentOl of 'Re Oeparlment of'1 Natural Resources
(Colorado Water Conservation Board) .
he~ina((er "(erred 10 as the Slale. and '2 the North Fork Watp.r Cnn!';p.nT~ncy
District, P. O. Box 130. Hotchkiss. CO B141Q.
hereinsfrtr referred to as Ihe corllraClor.lContractor.

WHEREAS. authority Cll:islS in thco Law and Funds have bun budge led. appropriated and Dlherwise made
.availilble and a sufficient u?~ncumbered balance thereof remains available for pavmenl in Fund Number N/A
GlL Accounl Number N A . Conlracl Encumbrance Number N/A ; ;nd .

WHEREAS. ref.juired appruval. clearance and COordinaliun has been accomplished from and wi,h appropriate
altncie~: and

WHEREAS. the State and the Contractor entered into a
contract on December 15. 1986 (attached as Exhibit Band
incorporated by reference herein). which contract shall
hereinafter be referred to as the "feasibility report
contract. II in which the State agreed to pay the Contractor
Two Thousand Three Hundred Twenty-Five Dollars ($2.325) for the
purpose of partially funding a feasibility report concerning
the repair of the Lone Cabin Dam; and

WHEREAS. the feasibility report contract provides in part
the following terms:

5. In consideration of the State assuming a portion
of the cost of the preparation of the said project
feasibility report. the Contractor shall pay to the State
the sum of Three Thousand Ten Dollars and Ninety Cents
($3.010.90) provided that construction of the subject water
project is initiated within ten (10) years of the date of
this contract. The Contractor shall fulfill this
obligation irrespective of how. or by Whom. the SUbject
water project is financed or paid for so long as
construction is initiated within the specified time.

6. In the event the Contractor must make payment
pursuant to the terms of paragraph 5. above. then the said
sum of Three Thousand Ten Dollars and Ninety Cents
($3.010.90) shall be payable in ten (10) equal installments
of Three Hundred One Dollar and Nine Cents ($301.09) each.
the first installment to be due and payable upon the
January 1st next succeeding the initiation of construction
on the said water project. Subsequent payments shall be
due and payable on January 1st of each year thereafter.

WHEREAS. the State and the Lone Cabin Ditch and Reservoir
Company intend to enter into a contract (hereinafter referred
to as the IIproject contract") in which the State will loan the
Lone Cabin Ditch and Reservoir Company money far the purpose of
repairing the Lone Cabin Dam; and

WHEREAS. initiation of construction to repair the Lone
Cabin Dam will create an Obligation on the part of the
Contractor to make payments under the terms. specifically
paragraph Nos. 5. and 6.. of the existing feasibility report
contract; and

WHEREAS. the parties agree that it would be mutually
beneficial to terminate the Contractorls Obligation under the
feasibility report contract and to integrate repayment of the
Two Thousand Three Hundred Twenty.Five Dollars ($2.325) (WhiCh
represents the principal amount provided by the State for the
purpose of partially funding the feasibility report for the

395-53-01-1014

Page I of~pagC's
EXHIBIT A

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