C153664 Contract

• Contract/PO #: C153664
• Contractor Name: Fort Lupton, City of & Fort Lupton Water Utility Enterprise
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: HB 93-1273
• Loan Projects - Doc Type: Contract Documents

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of the power of eminent domain, the State and the Borrower shall
cause any portion of the net proceeds of any insurance claim or
condemnation award which belong to the Borrower or over which the
Borrower has any control to be applied to the prompt replacement,
repair and restoration of the Project facilities or any portion
thereof. If the net proceeds for all of the entities participating
in the Proj ect are insufficient to pay the full cost of the'
replacement, repair and restoration and the entities participating
in the Proj ect determine not to repair, replace or restore the
Project facilities, the Borrower shall promptly pay any portion of
the net proceed, to which it is entitled or over which it has any
control, to the State as a partial payment of its obligations under
this Contract.

12. The Borrower shall not convey, sell, lease, assign,
grant, transfer, mortgage, pledge, encumber, or otherwise dispose
of its interest in the Allotment Contract, or any portion thereof,
so long as any of the annual installments required by this Contract
remain unpaid, without the prior written concurrence of the State.

13. The Borrower shall provide the State with such
periodic reports as the State may require and permit periodic
inspections of its operations and accounts by a designated
representative of the State qualified in the area in which such
inspection is being made. Any such inspections by the state is
solely for the purpose of verifying compliance with the terms and
conditions of the contract and shall not be construed nor
interpreted as an approval of the actual design and/or construction
of any element of the project.

14. The Borrower shall comply with the requirements of
s37-60-120, C.R.S. and with any other applicable state, federal or
local statutes, procedures, requirements, rules, regulations or
ordinances.

C. Upon default in the payments herein set forth to be made
by the Borrower, or default in the performance of any covenant or
agreement contained herein, the State, at its option, may

1. declare the entire amount, principal and interest,
then outstanding immediately due and payable;

2. for the account of the Borrower, incur and pay
reasonable expenses for maintenance of the Borrower's interest in
the Allotment Contract and such expenses as may be necessary to
cure the cause of the default;

3. take action to enforce the security interests
required by this contract, including without limitation action to
enforce the State's security interest in the revenues generated by
the water user charges and fees and in the Allotment Contract
consistent with the terms of such contract;

4. take any other appropriate legal action, including,
but not limited to, an action enforcing specific performance of

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