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<br />CWCB Construction Fund Loan Application <br /> <br />have the fmancial capacity to repay any loans made by the CWCB. The following information is <br />needed to assist the CWCB in a preliminary assessment of the applicant's financial capacity. It is <br />also requested that the project sponsor submit with this application copies of the two most recent <br />annual reports, fmancial statements, corporate reports or other current documentation of <br />financial condition and operations. <br /> <br />1. List any existing liability or indebtedness that exceeds one thousand dollars. For example, bank <br />loans, government agency loans, bond issues, accounts payable, etc. Include names and <br />addresses of lenders, amounts, due dates and maturity dates. Attach a separate schedule, if <br />needed. <br /> <br />T .ender Name & Addre~~ <br /> <br />Remaining <br />Amonnt <br /> <br />Annual <br />Payment <br /> <br />Maturity <br />Date <br /> <br />Surface Creek Bank Center, Cedaredge <br />The above bank has given SCD&RC a $75,000.00 line of credit of which $40,000.00 has been <br />used to-date. The balance will be used soon as construction has started again. The amount of the <br />loan we have requested is sufficient to pay any or all monies we need on the LOC. The maturity <br />date for this loan is November 7, 2002: <br />~oo 3 \'-< v- c... \1.- lo { '-f ~ ,,7..- ~ <br /> <br />2. Are any of the above liabilities now in default, or been in default at any time in the past? <br />YES_NO X If YES, please give detailed explanation. <br /> <br />3. Please provide a summary of all revenues received during the last two fiscal years by category <br />(such as service charges, tap fees, assessments, etc.). Assessment revenues for shareholder are <br />the only source of revenue. Assessments for the year 2000 were $30.00 per Share or <br />$24,000.00. For the year 2001 they were $55.00 per share or a total of $44,550.00 and in the <br />year 2002 the assessment were $70.00 per share for a total of $56,700.00. Assessments had <br />been increased in anticipation of the rehabilitation of Hotel Twirl <br /> <br />4. Please provide a brief narrative description of sources of funding, in addition to the CWCB, <br />which have been explored for this project (Examples would be Banks, Rural Development, <br />NRCS, Colorado Water Resources and Power Development Authority, Colorado Division of <br />Local Government, etc.). Received a grant from the Colorado River Water Conservation <br /> <br />4 <br /> <br />CFLA602 <br />