PROJ01977 ‎(2)‎

• Contract/PO #: C150011
• Contractor Name: Consolidated Mutual Water Company, The
• Contract Type: Loan
• Water District: 7
• County: Jefferson
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Contract Documents

Date:

Borrower:
Principal Amount:
Interest Rate:
Term of Repayment:
Loan Contract No,:
Loan Payment:
Payment Initiation Date*:
Maturity Date*:

PROMISSORY NOTE

October 12, 2006
The Consolidated Mutual Water Company
$9,110,487.53

5.10% per annum

5 years

C150011, dated October 12, 2006

$2,110,113.29
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* Payment Initiation Date and Maturity Date fields are filled in after the project has
been substantially completed.

1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water
Conservation Board ("CWCB"), the Principal Amount plus Interest for the Term
of Repayment, pursuant to the LOAN CONTRACT and this promissory note.

2. This Promissory Note replaces and supersl9des the Promissory Note dated
April 26, 2000, in the principal amount of $16,300,000.00

3. Principal and interest shall be payable in equal Loan Payments, with the first
payment due and payable one year from the Payment Initiation Date, and
annually thereafter. All principal, interest, and late charges, if any, then
remaining unpaid shall be due and payable on or before the Maturity Date.

4. Payments shall be made to the Colorado Water Conservation Board at 1313
Sherman Street, Room 721, Denver, Colorado 80203.

5, The CWCB may impose a late charge in the amount of 5% of the annual
payment if the CWCB does not receive the annual payment within '15 calendar
days of the due date.

6, This Note may be prepaid in whole or in part at any time without premium or
penalty. Any partial prepayment shall not postpone the due date of any
subsequent payments or change the amount of such payments.

7. All payments received shall be applied first to late charges, if any, next to
accrued interest and then to reduce the principal amount.

8. This Note is issued pursuant to the LOAN CONTRACT between the CWeB and
the BORROWER. The LOAN CONTRACT creates security interests in favor of the
CWCB to secure the prompt payment of all amounts that may become due

Appendix A to Loan Contract C'150011 Amendment No.3