C150243 Contract

• Contract/PO #: C150243
• Contractor Name: Aurora, City of
• Contract Type: Loan
• Water District: 0
• County: Adams
• Bill Number: SB 07-122
• Loan Projects - Doc Type: Contract Documents

7 T �
5. "Second-Lien Obligations" means the 2004 Bonds and any Obligations issued on a
parity as to security with the 2004 Bonds.
6. "2004 Bonds" means the Second-Lien Water Improvement Revenue Bonds, Series
2004A.
7. "2007 CWCB Debt Service Reserve Account" means the special account created and
required to be maintained pursuant to Section A.8(c) hereof.
8. "2007 CWCB Series Ordinance" means Ordinance No. 2007-30.
THEREFORE, in consideration of the covenants contained herein, the parties agree as
follows:
A. LOAN PROVISIONS
1. Loan Terms. The amount of the Loan (the "LOAN AMQUNT") is up to $75,750,000 for
PROJECT COStS, including a loan origination fee of 1% of the amount of funds disbursed
for PRO�ECT costs in accordance with CWCB Policy No. 16, at an interest rate of 3.75%
per annum for a repayment term of 30 years. The Loarv annouNT shall not exceed 90%
of the cost of the PRO�ECT. Loan funds shall be disbursed in accordance with Sections
B.3, B.4, and B.5 herein.
2. Loan Service Fee. The Loan Service Fee is an origination fee of one percent (1 %)
of the amount of funds disbursed for PRO�ECT costs. In the event that the BoRROwER
does not use the Loa►v AnnourvT authorized, the parties shall amend this Contract to
revise the Loarv AnnouNT proportionately including adjustment of the service fee to
reflect 1% of the actual Project AnnouNT disbursed to the BoRROwER.
3. Contract Amendment Service Fees. Under certain circumstances, the BORROWER
shall be assessed a fee for amending the Contract.
a. Upon the written request for a contract amendment by the Borrower and the
written consent to such request by the CWCB, a service fee shall be imposed on
the BORROWER for amendments.
b. The amount charged shall be in accordance with the publicly available fee rate
structure set forth in the CWCB Loan Service Charge Policy in effect at the time
the BoRROwER requests an amendment. The current fee for an amendment is
$1,000.
c. The BoRROwER shall remit the service fee to the CWCB prior to initiation of the
amendment. Any service fee remitted to the CWCB cannot be refunded
4. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an
amount not to exceed the Loatv AnnouNT and the BoRROwER agrees to repay the loan in
accordance with the terms as set forth in the Promissory Note, attached hereto as
Appendix 1 and incorporated herein. The Promissory Note shall identify the LoaN
AnnourvT. If, on the date of substantial completion of the Project, the amount of loan
funds disbursed by the CWCB to the BoRROwER differs from the Loarv AnnourvT, the
Loan Contract C150243
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