C150147 contract docs

• Contract/PO #: C150147
• Contractor Name: Quint, Victor and Margie
• Contract Type: Loan
• Water District: 0
• County: Morgan
• County: Washington
• Bill Number: MC4
• Loan Projects - Doc Type: Contract Documents

�
Date:
Borrower:
Principai Amount:
Interest Rate:
PROMISSORY NOTE
September 1, 2003
Victor and Margie Quint
$86,355
2.5% per annum
Term of Repayment: 30 years
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Loan Contract No.: C150147 dated September 1, 2003
Loan Payment: $4,125.84
Payment Initiation Date *: /�cr � �, � D� 1/
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Maturity Date'': i'��,,, /. 2 0°� 2
* These finro 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.
2. Principal and interest shall be payable in equal Loan Payments, with the first payment due
and payable one year from the date th termines that the project is substantially
complete (Payment Initiation Date hereafter until all principal, interest, and
late charges, if any, have been pai , such principal, interest, and late charges,
required to be paid on or before the Matu '
3. Payments shall be made to r servation Board at 1313 Sherman
Street, Room 721, Denver, Col 0203.
4. 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.
5. 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.
6. All payments received shall be applied first to late charges, if any, next to accrued interest
and then to reduce the principal amount.
7. This Note is issued pursuant to the Loa►v CONTRACT between the CWCB and the
BoRROwER. The Lo,�w CoNTw�cT creates security interests in favor of the CWCB to secure
the prompt payment of all amounts that may become due hereunder. Said security interests
are evidenced by a Deed of Trust of even date and amount and cover certain real property,
of the BORROwER The LoAN CoNTwacT and Deed of Trust grant additional rights to the
CWCB, including the right to accelerate the maturity of this Note in certain events.
8. If any annual payment is not paid when due or any default under the Loarv CorvTRaCT or the
Deed of Trust securing this Note occurs, the CWCB may declare the entire outstanding
principal balance of the Note, all accrued interest, and any outstanding late charges
Appendix 2 to Loan Contract C150147