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<br />b. For any injury to two or more persons in any single <br />occurrence, the sum of Four Hundred Thousand Dollars <br />($400,000). <br /> <br />Said liability insurance shall name the State as a <br />co-insured. A copy of a certificate of said liability insurance <br />must be filed with the Colorado Water Conservation Board prior to <br />the start of the operation of the project system. <br /> <br />8. Make the services of said project available within its <br />capacity to all persons in the Contractor's service area withput <br />discrimination as to race, color, religion, or natural origin at <br />reasonable charges including assessments, taxes, or fees in <br />accordance with a schedule of such charges, whether for one or <br />more classes of service, formally adopted by the Contractor <br />through its board of directors, as may be modified from time to <br />time by the Contractor. The initial rate schedule must he <br />approved by the State. Thereafter, the Contractor may, subject <br />to the approval of the State, make such modifications to the rate <br />schedule as the Contractor deems necessary to efficiently and <br />economically provide for the financial requirements of the system <br />as long as the rate schedule remains reasonable and <br />non-discriminatory. <br /> <br />9. Adj ust its operating costs and serv ice charges from time <br />to time to provide for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves. <br /> <br />10. Expand the system from time to time to meet reasonable <br />growth or service requirements in the area within its <br />jurisdiction. <br /> <br />11- <br />require <br />accounts <br /> <br />Provide the State with such periodic reports as it may <br />and permit periodic inspections of its operations and <br />by a designated representative of the State. <br /> <br />12. Purchase from the State all of the State's right, title, <br />and interest in said project and any facilities thereof ilt a <br />total purchase price of Fourteen Million Six Hundred Thirty-Six <br />Thousand Four Hundred Dollars ($14,636,400) payable in Thirty <br />(30) annual installments of Four Hundred Eighty-Seven Thousand ~ <br />Eight Hundred Eighty Dollars ($4B7,BBO) each, which first I <br />installment shall be due and payable on April 15, 19B4, und <br />yearly thereafter until the entire principal sum shall have been <br />paid. Said installment payments shall be made payable to the <br />Colorado Water Conservation Board, payable at the offices of said <br />Board in Denver, Colorado. <br /> <br />13. Obtain and maintain general fire and hazard insurance <br />on the project system in an amount not less than the amount owing <br />to the State for purchase of the project system until the <br />Contractor has purchased the project system. The State shall be <br />the sole insured of this policy. The purchase price payable to <br />the State shall be reduced in the amount of any payments made to <br />the State under this insurance coveraqe~ if only a portion of the <br />purchase price is paid to the State under this policy, the number <br />of installment payments shall remain unchanged, however the <br />amount of each payment shall be reduced. <br /> <br />14. Com~ly with Construction Fund program Procedures <br />attached hereto as Schedule A. <br /> <br />15. Comply with the provisions of Section 5 of S.B. 439, <br />19B1 Session of the Colorado General Assembly. <br /> <br />16. Not sell, convey, assiqn, grant, transfer, or otherwise <br />dispose of the project or any portion thereof, so long a:i any of <br />the annual installments required by paragraph A. 12. above remain <br />unpaid, without the prior written concurrence of the State. <br /> <br />Page 4 of 8 pages <br />