PROJ01960 ‎(2)‎

• Contract/PO #: C150249
• Contractor Name: Black Dike Pipeline Company
• Contract Type: Loan
• Water District: 0
• County: Montezuma
• Loan Projects - Doc Type: Feasibility Study

-

-

-

-

-

-

-

-

FROM:

FAX NO,

Apr, 02 2005 06: 24PM PI

....9!1th~.FundingAgr~mentfor its pr1m~ry!;(lur~ of mQ~Y for::'
.... r~paymeot ot.th~loanandthatth~'COnipanyinay'ti'S&an'legal means
available to collect from Funding Members any.amountifiilarrears,

. ',13,rhls AQreemenhnay.be signed in,Counterpartll'arid allsl~natun:s shall
:'be notarlzeIL.". .... . .

:". '" 'r':~'

..: t4.The parties agree that the Company shall he the:owner of the..'
Additions/Improvements, The Parties"alslfaCknowledge,thalMembers'
rights to use the head gate, the point of diversion and easements for the
. Ditch that ~pledged for use by the'~amfJ:any purSuant to the' fiylaws of
'. tI:1e COrporation;; mlilY be pledged by the Comp8l'ly'ti) BeClir8 the loan.
. ;", :,.,,' : '....f:.... : .' '. ~ '. . .' .' . '.,~.., .. . .....".. .. ...... ..' ..... .'!.....' -'"'r

. .~~.~:'~~~~~~~~h~~:fe'cfmp~ny jsi()r~ .;~"~~f~u~~~ri~loan
Funding Agreem'eritand th~j::: i,;'t6!T1ents P\l~ua.nt to tIlis
of water by cloSing the head gate a~d t~ t Othml p~ny .may cease delivery
secure the LoaD: .. .' .: a. snghtr:na,Y be pledged to

16,Thls Agreement is binding up~n'~ .:, .:' , .
parties. ' . ...< ,. , " ellS, successors andSSsigns otthe

IN WITNESS WHEREOF the '... ." . ' ." '.
executed as of the day a~d:ye~~:~e: a':o:~ c.::~. th,~ ~g~ment to be

Tht!:l=vnding Members

. rortheCompany

Richard Barker
Bernard Bell
~Y$Se" 8Qd11"r .
Delia .Brinton.
Rodrieica~rike~ .
Judy l,sne
Vincent lee
Eric Lindgren · .... .

i:'Eric'Undgren, President
", :..... '..... .

',..... ,
. ,,'

..... '

"'.\: ", '.'

~;g"-""
... ' .. .. . ....
- ....' '. ~~(~

Oan P~~en

\^ft!H~m. Southworth.

-

-

I '

-

-

-

-

-

-

-

-

-

on this Funding Agreement for its primary source of money for
repayment of the Loan and that the Company may use all legal means
available to collect from Funding Members any amounts in arrears.

13. This Agreement may be signed in counterparts and all signatures shall
be notarized.

14. The parties agree that the Company shall be the owner of the
Additions/Improvements. The Parties also acknowledge that Members'
rights to use the head gate, the point of diversion and easements for the
Ditch that are pledged for use by the Company pursuant to the Bylaws of
the corporation, may be pledged by the Company to secure the Loan,

15. The parties agree that, if the Company is forced to default on the Loan
due to failure of the Members to pay assessments pursuant to this
Funding Agreement and the Bylaws, the Company may cease delivery
of water by closing the head gate and that this right may be pledged to
secure the Loan.

16. This Agreement is binding upon heirs, successors and assigns of the
parties.

IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the day and year first above written.

The Funding Members

for the Company

Richard Barker

Eric Lindgren, President

Bernard Bell

Russell Bodnar

Delia Brinton

Rodney Carriker

Judy Lane

Vincent Lee

Eric Lindgren

Dan Petersen

11m ff Ave
y. p - ,

\^Jilliam South'North