Laserfiche WebLink
Date: <br />Borrower: <br />Principal Amount: <br />Interest Rate: <br />Term of Repayment: <br />Loan Contract No.: <br />Loan Payment: <br />Payment Initiation Date": <br />Maturity Date*: <br />PROMISSORY NOTE <br />December 4, 2009 <br />W RCC, Inc. <br />$1, 301, 890 <br />2.85% per annum <br />30 years <br />C150302, dated December 4, 2009 <br />$65,140.08 <br />�` Payment Initiation Date and Maturity Date fields are <br />substantially completed. <br />1. <br />2 <br />filled ' ter the project has been <br />FOR VALUE RECEIVED, the BORROWER promis o pay the o ado Water Conservation <br />Board ("CWCB"), the Principal Amount plus Inter for the T m of Repayment, pursuant to <br />the LOAN CONTRACT and this promi ote. <br />Principal and interest shall be pa able in qual Loan Payments, with the first payment due <br />and payable one year m Paym Ini ' tion Date (the date the CWCB determines that the <br />project is substa Ily mplete), an annually thereafter. All principal, interest, and late <br />charges, if any, the aining unpaid shall be due and payable on or before the Maturity <br />Date. <br />3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman <br />Street, Room 721, Denver, Colorado 80203. <br />4. The CWCB may impose a late charge in the amount of 5% of the annual payment if the <br />CWCB does not receive the annual payment within 15 calendar days of the due date. <br />5. This Note may be prepaid in whole or in part at any time without premium or penalty. Any <br />partial prepayment shall not postpone the due date of any subsequent payments or change <br />the amount of such payments. <br />6. All payments received shall be applied first to late charges, if any, next to accrued interest <br />and then to reduce the principal amount. <br />7. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the <br />BORROwER. The LOAN CorvT�CT creates security interests in favor of the CWCB to secure <br />the prompt payment of all amounts that may become due hereunder. Said security interests <br />are evidenced by a Security Agreement and Deed of Trust ("Security Instruments") of even <br />date and amount and cover certain revenues, real property, water rights and/or accounts of <br />the BoRROwER. The LoAN CorvTRACT and Security Instruments grant additional rights to the <br />CWCB, including the right to accelerate the maturity of this Note in certain events. <br />Appendix 2 to Loan Contract C150302 <br />Page 1 of 2 <br />