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attributable to any past or future dispositions of property or rights or related contracts, settlements, or judgments held or obtained in connection with the System, its operations or availability, and including investment income accruing from moneys attributable to the System held to the credit of the Water Enterprise Fund; provided however, that there shall be excluded from Gross Revenue any moneys borrowed and used for providing Capital Improvements; any money and securities, and investment income therefrom, in any refunding fund, escrow account, or similar account pledged to the payment of any bonds or other obligations; and any moneys received as grants or appropriations from the United States, the State of Colorado, or other sources, the use of which is limited or restricted by the grantor or donor to the provision of Capital Improvements or for other purposes resulting in the general unavailability thereof, except to the extent any such moneys shall be received as payments for the use of the System, services rendered thereby, the availability of any such service, or the disposal of any commodities therefrom. "Loan" means the loan made by the CWCB to the District pursuant to the Loan Contract and evidenced by the Note. "Loan Contract" means the Loan Contract dated as of April 11, 2011 between the District and the CWCB, including the Security Agreement, Promissory Note and Project Summary appended thereto. "Net Revenue" means the Gross Revenue after deducting the availability of service charge revenues and Operation and Maintenance Expenses. "Note" or "Promissory Note" means the Promissory Note evidencing the District's repayment obligation from the date of substantial completion of the Project, as set forth in Appendix 2 to the Loan Contract. "Operation and Maintenance Expenses" means all reasonable and necessary current expenses of the District, paid or accrued, for operating, maintaining, and repairing the System, including without limitation legal and overhead expenses of the District directly related to the administration of the System, insurance premiums, audits, charges of depository banks and paying agents, professional services, salaries and administrative expenses, labor, and the cost of materials and supplies for current operation; provided however, that there shall be excluded from Operation and Maintenance Expenses any allowance for depreciation, payments in lieu of taxes or franchise fees, legal liabilities not based on contract, expenses incurred in connection with Capital Improvements, payments due in connection with any bonds or other obligations issued to provide Capital Improvements, and charges for the accumulation of reserves. "Parity Lien Bonds" means one or more series of additional bonds, notes, interim securities, or other obligations having a lien on the Net Revenue on a parity with the lien pledged to the CWCB in the Loan Contract that are issued by the District in conformance with the provisions of the Loan Contract. "Project" is defined in Appendix 1 to the Loan Contract. "Reserve Account" means the debt service reserve account provided for in Section A.8.d. of the Loan Contract. Appendix 3 to Loan Contract C150324 4814- 5244-3407. 23