C150240 contract docs

• Contract/PO #: C150240
• Contractor Name: Bull Creek Reservoir, Canal & Power Company
• Contract Type: Loan
• Water District: 0
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

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Date:
Borrower:
Principal Amount:
Interest Rate:
Term of Repayment:
Loan Contract No.:
Loan Payment:
Payment Initiation Date*:
Maturity Date":
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PROMISSORY NOTE
December 1, 2010
Bull Creek Canal & Power Company
$1,801,630
2.5% per annum �
30 years
C150240, dated June 18, 2007 and amended September 21,
2009 and December 1, 2010
Years 1-4 $49,550
Years 5-30 $94,081.68
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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 LoAtv CoNTw4cT and this promissory note.
2. This Promissory Note replaces and supersedes the Promissory Note dated
September 21, 2009, in the principal amount of $1,456,218.
3. Principal and interest shall be payable in unequal Loan Payments, with the first
payment due and payable one year from 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.
Appendix B1 to Loan Contract C150240