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PROJC01776
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PROJC01776
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Last modified
11/19/2009 11:25:41 AM
Creation date
2/6/2007 2:36:01 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153723
Contractor Name
Orchard Mesa Irrigation District
Contract Type
Loan
Water District
72
County
Mesa
Bill Number
HB 95-1155
Loan Projects - Doc Type
Contract Documents
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<br />Date: <br />Borrower: <br /> <br />Principal Amount: <br />Interest Rate: <br />Tenn of Repayment: <br />Loan Contract No.: <br /> <br />Loan Payment: <br />Payment Initiation Date: <br />Maturity Date*: <br /> <br />PROMISSORY NOTE <br /> <br />May 1, 2005 <br /> <br />Orchard Mesa Irrigation District acting by and through <br />the Mutual Mesa Lateral Enterprise <br /> <br />$469,813.04 <br /> <br />4.0% per annum <br /> <br />30 years <br /> <br />C153723, dated December 2,1996, amended May 1, <br />2005 <br /> <br />$27,169.33 <br /> <br />May 1,1997 <br /> <br />May 1, 2027 <br /> <br />1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water <br />Conservation Board ("CWCS"), the Principal Amount plus Interest for the Tenn <br />of Repayment, pursuant to the LOAN CONTRACT and this promissory note. <br /> <br />2. This Promissory Note replaces and supersedes Paragraph A.9, the Promissory <br />Note Provisions, of the Loan Contract dated December 2, 1996, in the principal <br />amount of $810,000, and the CWCS hereby acknowledges that the BORROWER <br />has made all payments as scheduled since May 1, 1998. <br /> <br />3. Principal and interest shall be payable in equal Loan Payments, with the first <br />payment due and payable one year from Payment Initiation Date, and annually <br />thereafter. All principal, interest, and late charges, if any, then remaining <br />unpaid shall be due and payable on or before the Maturity Date. <br /> <br />4. Payments shall be made to the Colorado Water Conservation Board at 1313 <br />Shennan Street, Room 721, Denver, Colorado 80203. <br /> <br />5. The CWCS may impose a late charge in the amount of 5% of the annual <br />payment if the CWCB does not receive the annual payment within 15 calendar <br />days of the due date. <br /> <br />6. This Note may be prepaid in whole or in part at any time without premium or <br />penalty. Any partial prepayment shall not postpone the due date of any <br />subsequent payments or change the amount of such payments. <br /> <br />7. All payments received shall be applied first to late charges, if any, next to <br />accrued interest and then to reduce the principal amount <br /> <br />8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and <br /> <br />Appendix 1 to C153723 Amendment No.1 <br />Page 1 of 2 <br /> <br />
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