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PROJC02506
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PROJC02506
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Last modified
6/15/2011 10:09:39 AM
Creation date
7/15/2009 4:01:09 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150193
Contractor Name
Dolores Water Conservancy District
Contract Type
Loan
Water District
34
County
Montezuma
Loan Projects - Doc Type
Contract Documents
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~ ~ <br />NOW THEREFORE, it is hereby agreed that <br />1. Consideration for this Amendment to the ORi~inra~ CoNrRacT consists of the payments <br />that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the <br />promises and agreements herein set forth. <br />2. It is expressly agreed by the parties that this Amendment is supplemental to the <br />ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless <br />specifically modified herein, are to apply to this Amendment as though they were <br />expressly rewritten, incorporated, and included herein. <br />3. The BoRROwER agrees that it shall execute the following documents: <br />a. Amended Security Agreement attached hereto as Appendix A and incorporated <br />herein, which shall supplement and operate in conjunction with the Security <br />Agreement attached to the ORi~iNA~ Loan CoNr dix 4. <br />b. Assignment of Investment Fund and t~~~fied reto s Appendix B and <br />incorporated herein, whic r nment estment Fund and <br />Interest dated Se ~ 20 attach to the ORIGINAL CONTRACT <br />as <br />Appendix 4, wh' h the Row as~igns, transfers and grants a security <br />interest in the F <br />c. The BORROWER's solution, irrepealable for the term of this loan, authorizing the <br />BoRROwER to enter into this contract amendment to substitute the collateral, and to <br />execute documents necessary to convey a security interest in said collateral, if <br />necessary, to the CWCB. Said resolution is attached as Appendix C. <br />4. Contract Amendment Service Fees. Under certain circumstances, th2 BORROWER <br />shall be assessed a fee for amending the Original Contract. <br />a. A service fee shall be imposed on the BoRROwER for amendments processed for <br />the benefit of the BORROWER and necessary for the BORROWER's course of <br />business, including, but not limited to, a change in borrower name (novation), <br />assignment of contract, substitution of collateral, loan payment deferments in <br />excess of 3 per Ioan, and loan consolidation. Amendments in the course of <br />CWCB business, including, but not limited to, loan payment deferments (up to 3 <br />per loan) and changes in terms of loan repayment will be processed at no <br />additional charge to the borrower. <br />b. The amount charged shall be the fee rate structure in accordance with the <br />CWCB Loan Service Charge Policy in effect at the time the BORROWER Shall <br />request an amendment. The current fee for an amendment is $1,000. <br />c. The BoRROwER shall remit the service fee to the CWCB prior to initiation of the <br />amendment. Any service fee remitted to the CWCB cannot be refunded. <br />Loan Contract C150193 Amendment No. 1 <br />Page 2 of 5 <br />
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