My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
PROJ01979
CWCB
>
Loan Projects
>
DayForward
>
0001-1000
>
PROJ01979
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/15/2011 10:13:39 AM
Creation date
7/3/2007 11:18:53 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150201
Contractor Name
Carpenter and Mitchell Ditch Company
Contract Type
Loan
Water District
71
County
Montezuma
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
49
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
;` <br />PROMISSORY NOTE <br />Date: August 18, 2005 <br />Borrower: Carpenter and Mitchell Ditch Company, Inc. <br />Principal Amount: $607,200 <br />Interest Rate: 2.5% per annum <br />Term of Repayment: 30 years <br />Loan Contract No.: C150201, dated August 18, 2005 <br />Loan Payment: $29,010.58 <br />Payment Initiation Date": <br />Maturity Date*: '"""'"~ <br />* Payment Initiation a Maturi Date Ids are ed~ in a r the project has been <br />substantially completed. ,,~"' <br />'I . FOR VALUE RECEIVED, the o ER promises to pay the Colorado Water Conservation Board <br />("CWCB"), the Principal Amount plus Interest for the Term of Repayment, pursuant to the LoaN <br />CoNTwacT and this promissory note. <br />2. Principal and interest shall be payable in equal Loan Payments, with the first payment due and <br />payable one year from Payment Initiation Date (the date the CWCB determines that the project <br />is substantially complete), and annually thereafter. All principal, interest, and late charges, if <br />any, then remaining unpaid shall be due and payable on or before the Maturity Date. <br />3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street, <br />Room 721, Denver, Colorado 80203. <br />4. The CWCB may impose a late charge in the amount of 5% of the annual payment if the CWCB <br />does not receive the annual payment within 15 calendar days of the due date. <br />5. This Note may be prepaid in whole or in part at any time without premium or penalry. Any <br />partial prepayment shall not postpone the due date of any subsequent payments or change the <br />amount of such payments. <br />6. All payments received shall be applied first to late charges, if any, next to accrued interest and <br />then to reduce the principal amount. <br />7. This Note is issued pursuant to the LoaN CotvTFtaCT between the CWCB and the BoRROwER. <br />The LoAtv CoNTwo,cT creates security interests in favor of the CWCB to secure the prompt <br />payment of all amounts that may become due hereunder. Said security interests are evidenced <br />by a Security Agreement and Deed of Trust ("Security Instruments") of even date and amount <br />and cover certain revenues, real property, water rights and/or accounts of the BoRROwER. The <br />LoaN CoNTFZa,CT and Security Instruments grant additional rights to the CWCB, including the <br />right to accelerate the maturity of this Note in certain events. <br />8. If any annual payment is not paid when due or any default under the LoAN CorvTRaCT or the <br />Security Instruments securing this Note occurs, the CWCB may declare the entire outstanding <br />Appendix 2 to Loan Contract C150201 <br />Page 1 of 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.