2013-05-09_HYDROLOGY - M2009048 - Laserfiche WebLink

Home Browse Search

(c) For each annual payment thereafter, the United States will bill the Contractor and the Contractor agrees to pay for 30.0 acre -feet at the current rate charged for such water. Payments shall be made annually by Fchrualy 1. (d) All payments from the Contractor to the United States under this contract shall be by the mediliiii requested by the United States on or before the date payment is due. The required method of payment may include checks, wire transfers, or other types of payment specified by the united States. (e) Payment received by the United States for the sale of water under this contract shall be credited pursuant to Section 5 of the Colorado River Storage Project Act. 4. CHARGES FOR DELINQUENT PAYMENTS (a) The Contractor shall be subject to interest, administrative, and penalty charges on delinquent payments. If a payment is not received by the due date, the Contractor shall pay an interest charge on the delinquent payment for each day the payment is delinquent beyond the due date. If a payment becomes 60 days delinquent, in addition to the interest charge, the Contractor shall pay an administrative charge to cover additional costs of billing and processing the delinquent payment. If a payment is delinquent 90 days or more, in addition to the interest and administrative charges, the Contractor shall pay a penalty charge for each day the payment is delinquent beyond the due date, based on the remaining balance of the payment due at the rate of 6 percent per year. The Contractor shall also pay any fees incurred for debt collection set-vices associated with a delinquent payment. (b) The interest charge rate shall be the greater of either the rate prescribed quarterly in the Federal Register by the Department of the Treasury for application to overdue payments or the interest rate of 0.5 percent per month. The interest charge rate will be determined as of the due date and remain fixed for the duration of the delinquent period. (c) When a partial payment on a delinquent account is received, the amount received shall be applied first to the penalty charges, second to the administrative charges, third to the accrued interest, and finally to the overdue payment. 5. MEASUREMENT AND RESPONSIBILITY FOR DISTRIBUTION (a) The water to be released for the Contractor shall be measured by facilities of the I,nited States and delivered into the Gunnison River at the outlet works of Crystal Dam. The Contractor shall suffer all distribution and administration losses from the point of such delivery, to the place of use. (b) The Contractor shall hold the United States harmless on account of damage or claim of damage of any nature whatsoever, including property damage, personal injury, or death arising out of or connected with the control, carriage, handling, use, disposal, or distribution of such water b-v the Contractor.