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PROJC02530
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PROJC02530
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Last modified
5/8/2015 2:17:41 PM
Creation date
9/4/2009 11:53:32 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150281
Contractor Name
Water Supply and Storage Company
Contract Type
Loan
Water District
0
County
Larimer
Loan Projects - Doc Type
Contract Documents
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_ __ <br />� "' � � � � <br />Date. May 15, 20a9 <br />Bc�rrower; The Water Supply and S�rage Company <br />Principal Amount,' $843,35t} <br />Interest Ftat�: 3.7C►°�o per annum <br />Term ofi Repaym�nt; �4 }�ears <br />l.oan Cont�act Nc�.: �15(�281, dated May 15, 2�09 <br />Loan Payment: $47,Q10.23 <br />Payment Initiation Dat�*: <br />Maturity L7ate*: <br />* Payment lnitiatic�n Dafe and Maturltjr Date fields are filled ir► after the pfaject has been <br />substantiall�r completed. <br />'I . FOR VALUE RECEIVEQ the Bo�z�owER promTSes tc� pay t lor�da er G servation Bc�ard <br />{"C111/CB"}, the Principal Amount plus lnterest far erm Repayme pu uant to the Lo�tv <br />CorvTFta,cT and this promissory note,� <br />�.- <br />2. Principa) and interest sh II b �yable i qual L n Paym s, with the first payment due and <br />p�yable ane y�;ar from m t Initiatic�n e date the �WCB determines tha# the project <br />is �ubstantiaCly c�mplete}, annually th�reafter. AU pri�tcipal, 'interest, and late charc�es, if <br />any, then remaining unpaiti !I, be due and payable an crc before th� Maturity Date. <br />�. Payments sh�ll be made tc� the Calarado Water Conservation Board �t 1313 Sherrnan Street, <br />Roam 721, Denver, Calorada 8p203, <br />4. The CWCB may impase a Eate charge in #he amount af 5°l0 of the annual paym�t if the CWCB <br />dc�es not receive the annual payme�t within 15 �alendar days 4f the due date. <br />5. This Note may �e prepaid ir� whale or in p�rt at �rry time without premium or penal�r. Any <br />partial prepayment shall not postpone the du� date taf any subsequent paym�nts or change the <br />amaunt of sueh payments, <br />6: All payrnents recei�red shall be applied first to iate charges, if any. next ta accrued interest and <br />then to reduce the principal amount. <br />7. This Nate is issued pursuan# to the Lo�N Ct�NT�cY between the CWCB �nd the BOR�OttvER. <br />The L�arv �crNTFtt�cT cr�ates security interests in favor of the CWCB to secure th� prampt <br />payrtient of all amounts that may becorn� due hereund�r. Said �ecurity int�rests are evidenceti <br />by a Security Agreement {"Security Ins#ruments°) of sven date and amount and caver certain <br />reuenues, real praperty, water rights and/or accounts af the Bt�RROwER, The Lo��t CotvT�cr <br />and S�curity Instruments grant additic�nal rights ta the CWCB, including the right to acceterate <br />the r�aturifiy of #fi°rs Note in certain ewents. <br />$. If any ann:ual payment is not paid when due 4r �ny default under the Lo�rv CoNT�aCT ar the <br />Security Instrurnents s�curing this Note occurs, the CWCB may tl�clare the �ntire outstanding <br />Appendix 2 tc� Laan Cr�ntract C1 �Q281 <br />Page � of 2 <br />
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