C150272 Contract

• Contract/PO #: C150272
• Contractor Name: Farmers Pawnee Canal Company, The
• Contract Type: Loan
• Water District: 0
• County: Logan
• Loan Projects - Doc Type: Contract Documents

shall be assessed a fee for amending the contract
a. A service fee shall be imposed on the BORROWER for amendments processed for
the benefit of the BORROWER and necessary for the BORROWER's course of
business but not necessary for the CWCB, including, but not limited to, a change
in borrower name (novation), assignment of contract, substitution of collateral,
loan payment deferments in excess of 3 per loan, and loan consolidation.
Amendments in the course of CWCB business, including, but not limited to, loan
payment deferments (up to 3 per loan), changes in terms of loan repayment and
amendments to adjust the interest rate pursuant to Paragraph A.13 herein, will be
processed at no additional charge to the borrower.
b. The amount charged shall be in accordance with the fee rate structure set forth in
the CWCB Loan Service Charge Policy in effect at the time the BORROWER shall
request 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
3. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an
amount not to exceed the LOAN AMOUNT and the BORROWER agrees to repay the loan
in accordance with the terms as set forth in the Promissory Note, attached hereto as
Appendix 2 and incorporated herein. The Promissory Note shall identify the LOAN
AMOUNT. If the amount of loan funds disbursed by the CWCB to the BORROWER
differs from the LOAN AMOUNT, the parties agree to amend this contract, including its
appendices where necessary, to revise the LOAN AMOUNT.
4. Interest Prior to PROJECT Completion. As the loan funds are disbursed by the
CWCB to the BORROWER, interest shall accrue at the rate set by the CWCB for this
loan. The CWCB shall calculate the amount of the interest that accrued prior to
PROJECT'S substantial completion (as determined by the CWCB) and notify
BORROWER of such amount. The BORROWER shall repay that amount to the CWCB
either within ten (10) days from the date of notification from the CWCB, or, at the
CWCB's discretion, said interest shall be deducted from the final disbursement of
loan funds that the CWCB makes to the BORROWER.
5. Return of Unused Loan Funds. Any loan funds disbursed but not expended for the
PROJECT in accordance with the terms of this contract shall be remitted to the CWCB
within 30 calendar days from notification from the CWCB of either (1) completion of
the PROJECT or (2) determination by the CWCB that the PROJECT will not be
completed.
B. BORROWER's Authority To Contract. The BORROWER warrants that it has full power
and authority to enter into this contract. The execution and delivery of this contract
and the performance and observation of its terms, conditions and obligations have
been duly authorized by all necessary actions of the BORROWER. The BORROWER'S
authorizing resolution(s) are attached as Appendix 3 and incorporated herein.
Loan Contract C150272
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