C150293 contract docs

• Contract/PO #: C150293
• Contractor Name: North Sterling Irrigation District
• Contract Type: Loan
• Water District: 0
• County: Logan
• Loan Projects - Doc Type: Contract Documents

reason that it is not authorized or obligated to repay the loan to the CWCB as
required by this contract.
b. The BoRROwE� warrants that it has not employed or retained any company or
person, other than a bona fide employee working solely for the BoRROwER, to solicit
or secure this contrac# and has not paid or agreed to pay any person, company,
corporation, individual, or firm, other than a bona fide employee, any fee,
commission, perc�tage, gift, or other considera#ior� contingent upon or resulting
from the award or the making of this contract.
c. The BoRROwER warrants that the Pfedged Revenues and collateral for this loan
are not encumbered by any other deeds of trust or liens of any party other than the
CWCB or in any other manner, except #or any e�asting lien(s) identified in Section 5
(Schedule of F�cisting Debt) of the Project Summary, which sets forth the position of
the I+en createt! by this contract in relation to any existing Gen{s).
12. Remedies For Default Upon default in the payments to be made by the BoRROwER
under this contract, or default in the pertormance of any covenant or agreement contained
herein, the CWCB, at its option, may:
a. suspend this contract and withhold further loan disbursements pending corrective
action by the BoRROwER, and if the BoRROwER does not cure the de#ault as provided
for below, permanently cease loan disbursements and deem the PROJECT
substantially complete;
b. exercise its rights under any appendices to this oontract, including, but not limited to,
the Promissory Note and Security Agreement; and/or
c. take any other appropriate action.
The CWCB shall provide written notice to the BORROwER of any such default and sha4!
give the BoRROwER an opportunity to cure within thirty (30) days of rec;eipt of such
notice. All remedies described herein may be simultaneously or selectively and
successively enforced. The CWCB may enforce the provisions of this contract at its
option without regard to prior waivers of previous defaults by the BoRROwER, through
judicial proceedings to require specific performance of this contract, or by such other
proceedings in law or equity as may be deemed necessary by the CWCB to ensure
compliance with provisions of this contract and the laws and regulations under which this
contract is executed. The CWCB's exercise of any or all of the remedies described
herein shall not relieve the BoRROwER of any of its duties and obligations under this
contract.
13. OP€RATION O� PROJ�Cfi. The BoRROVVER shall, without expense or legal liabilit�r to the
CWCB, manage, operate and maintain the PROJECT continuously in an efficient and
economical manner.
14. BORROWER'5 Liability Insurance.
Laan Contract C150293
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