C153771 Contract Communication - Laserfiche WebLink

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Page 2 remove the requirement that the HCWUA maintain operation and maintenance, emergency repair services and obsoles.cence reserve funds. Paragraph A6: This paragraph is not inconsistent with Paragraph A.II because, if the revision letter is fully executed and approved, it is deemed an amendment to the contract and its terms become terms of the contract. Paragraph A8.c: I have revised this paragraph to clarify that the HCWUA will execute the deed of trust when it closes on the purchase of the water rights. Prior to closing, the HCWUA can notify the CWCB of the amount of water rights it will purchase, and the CWCB will provide the HCWUA with a deed of trust containing that information. Paragra,ph 12 (Collateral During Repayment): I have revised Paragraph A8.a, the Assignment of CD Account and Assignment of Deposit Account to clarify that the collateral is the principal of those accounts and that the HCWUA may withdraw interest earned by those accounts. Deed of Trust: We are looking into the question of the county or counties where the deed of trust should be recorded. As noted above, the CWCB will finalize the deed of trust form and provide it to the HCWUA prior to closing. Assignment of Escrow Account as Security: Paragraph 2 provides for partial releases of funds from the Escrow Account. Assignment of Deposit Account as Security: The Deposit Account is defined in the contract. The Assignment only applies to that account and not to the debt service reserve fund. Now that we have exchanged comments, it might be useful to meet to iron out the remaining details and to discuss our proposed revisions to the Escrow Agreement. Please contact me or Jan IIlian at the CWCB with any questions or comments, or to arrange such a meeting. Sincerel~, OI~ LINDA~~ Assistant Attorney General Natural Resources Section (303) 866-5047 (303) 866-3558 (FAX) Enclosure cc: William P. Stanton, CWCB Jan lilian, CWCB