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., . . ,\ CONTRACTOR: 'COLORAOO RIVER WATER CONSERVATION DISTRICT, ACTING BY AND THROUGH ITS COLORADO RIVER WATER PROJECTS ENTERPRISE Contract No. C 150074 Contract Amount $500,000 Agency Name: Water Conservation Board Agency Number PDA . Routing Number D:J.. fbA IJO~ CONTRACT THIS CONTRACT, made this 16th day of November 2001, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB" and/or "STATE"), and the Colorado River Water Conservation District, acting by and through its Colorado River Water Projects Enterprise, P.O. Box 1120, Glenwood Springs, CO B1602 ("CONTRACTOR"). FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for payment as follows: Fund Number 424, Organization YYYY, Appropriation Code ELK, GBL C074, Program WTRC, Object Code 5180, Contract Encumbrance No. C150074 2. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. 3. CWGB's authority for making this nonreimbursable expenditure: Construction Fund: Section, 37-60-121(1)(b)(IV), C.R.S., authorizes the CWCB to make nonreimbursable expenditures from the CWCB Construction Fund with specific authorization from the General Assembly. 4. The Project Summary, attached as Appendix 1 and incorporated herein, contains Contractor Information (Section 1) and Project Description (Section 2). 5. Board approval and legislative approval, if required a. At its January 24-25, 2001 meeting, the CWCB approved a nonreimbursable expenditure for the PROJECTto the CONTRACTOR in an amount up to $500,000. b. Pursuant to S.B. 01-157, Section 12, the Colorado General Assembly authorized CWCB to expend up to $500,000 for the PROJECT as its participation in obtaining the necessary feasibility studies associated with the enlargement of Elkhead Reservoir. NOW THEREFORE, in consideration of the mutual and dependent covenants contained herein, the parties agree as follows: A. Performance of PROJECT. The CONTRACTOR has selected Ayres and Associates and will hire another consultant (collectively referred to as "CONSULTANTS") to perform the PROJECT, and has approved the Study Plan attached as Appendix 2 and incorporated herein. The CONTRACTOR shall require the CONSULTANTS to perform the PROJECT tasks generally in accordance with said Study Plan. B. Time of performance. The CONTRACTOR recognizes that time is of the essence in the performance of its obligations under this contract. Therefore, the CONTRACTOR shall be Page 1 of 7