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<br />c.:
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<br />2. Conveyor cause title to be conveyed by deed or other proper
<br />conveyance to the Colorado Water Conservation Board, Department of
<br />Natural Resources, State of Colorado, the following portions of the
<br />proposed project facilities:
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<br />An undivided one-half interest in and to 'the Overland
<br />Reservoir together with all inlet and outlet ditches
<br />and structures appurtenant thereto or used in connection
<br />therewith.
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<br />3. Permit periodic inspection of construction by the authorized
<br />representatives of the State during construction and permit the State
<br />to review and approve or disapprove any contracts for the construction
<br />of the project or the performance of work pursuant to such contracts
<br />or. s~bcontracts.
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<br />4. Without expense to the State, manage, operate, and maintain
<br />the project system continu9us1y in an efficient and, economical manner,
<br />and assume all legal liability for such management, operation, and
<br />maintenance.
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<br />5. Make the, services '.of said project available within its
<br />capacity to all persons in' the Contractor's service area without
<br />discrimination as to race., color, religion. or natural origin at
<br />reasonable charges, including assessments, tax,e~" or fees, in, accor~
<br />dance :with a schedu1e,o:t;:,such charges, whethe:r'for one,o~r, more classes
<br />of service, formally adop'ted by the Contra~ctor:through:l.ts,board o:f
<br />directors, as may be modified from time to' time by,' the "Contractor.
<br />The iriitia1 rate scheduIe,:,must be approved by':t:he':State.~'Thereafter,
<br />the Contractor may make '~~uCh modifications to~ 'i:he 'rate schedu1eas
<br />the Contractor deems necessary to efficiently...andeconomica11y
<br />provide for thefinanci":r~re~uirements of the:'system as long as ,the
<br />'rate schedule remains "reas'anab1e and non-discriDiinatory; 'and subject
<br />tOR~~ approval}?X,t~<:;:fl,x.a,Fe~ "",,: 'J
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<br />'6. Adjust: its ope'r~#1ig costs and servid~ 'd:;~rges f~om time to
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<br />time to provide for adequa;te operation and maintenance, ,emergency,
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<br />repair services, obsolescence reserves, debt' lerv_:t.'~~, and'.~~bt .
<br />reserves. ,';, '~..._,.t:t;..' ,.,,_, _J. J~~_t;;,.> -r '-'_~..' .' 'ji._
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<br />7. Expand the sy~"terJ from ,time to time to irieet reas6na:b1e growth
<br />or service requirements' iri: the area within its,jurisdiction~
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<br />Ii.': Provide ~:the sta:fJ:~'{;ith such periodick~~ciits as 'Y.t: may r~q;:;~re,
<br />and permit periodic inspections of ,its operations and accoUnts by a
<br />designated representative, of t:he State. The Colorado Water Conserva-
<br />tion,Board, its agents, and employees, is hereby designated as the"
<br />agent at t:heState for the ,purposes of this cont:ract.
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<br />9. "To purchase fromehe State all of the:St:~t:e's right, 'title;
<br />and interest in said projectand,any facilities . thereof at a total
<br />purchase price of One Million Two Hundred Fortr~Three Thousand Forty
<br />Dollars ($1,243;040), payable'in forty (40)aririua1>instal1ments of'
<br />Thirty-One Thousand Seventy-Six Dollars ($31,076) each, which first
<br />installment shall be due and payable on June 1, 1981, and yearly
<br />thereafter until the entire principal sum shall have been paid. Said
<br />installment payment shall be made payable to the Colorado Water Con-
<br />servation Board, payable at the offices of said board in Denver,
<br />Colorado.
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<br />10. Upon default in the'payments herein set forth to be 'made by
<br />the Contractor,.or in the .performance of any covenant or agreement
<br />contained herein, the State, at its option, may (a) declare the
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<br />Page 2 of 5 pages
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