Laserfiche WebLink
1 <br />Date: <br />BoROwer: <br />Principa! Amount: $87,870 <br />Interest Rate: <br />Term of Repayment: <br />Loan Contract No.: <br />PROMISSORY NOTE <br />April 18, 2008 <br />South Side Ditch Company <br />3.1 % per annum <br />30 years <br />C150129, dated March 1, 2003 <br />Loan Payment: $4,541.21 <br />Payment lnitiation Date*: �G� �� �� 2 L�t� i <br />Maturity Date'`: �c:�� . � p ,�.j� <br />T <br />" Payment Initiation Date and Maturity Date fields are filled in after the project has <br />been substantially completed. <br />1. FOR VALUE RECEIVED, the BORROWER prOmises t0 pay the Colorado Water <br />Conservation Board ("CWCB"), the Principal Amount plus Interest for the Term <br />of Repayment, pursuant to the LoAN CorvTw�cT and this promissory note. <br />2. This Promissory Note replaces and supersedes the Promissory Note dated <br />March 1, 2003, in the principal amount of $72,720. <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 />unp�id sh�ll be due �nd p�yable on or before the M�turity D�te. <br />4. Payments shall be made to the Colorado Water Conservation Board at 1313 <br />Sherman Street, Room 721, Denver, Colorado 80203. <br />5. The CWCB 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 />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 />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 />8. This Note is issued pursuant to the LoAN CorvTw4cr between the CWCB and <br />the BORROWER. The LOAN CONTRACT creates security interests in favor of the <br />CWCB to secure the prompt payment of all amounts that may become due <br />Appendix A to Loan Contract C150129 <br />