C150233 PIF Contract

• Contract/PO #: C150233
• Contractor Name: Tom Hill
• Contract Type: Loan
• County: Grand
• Loan Projects - Doc Type: Contract Documents

PROMISSORY (VOTE
Date: May 30, 2008
Borrower: Tom C. Hill
Principal Amount:
Interest Rate
$862,540
2.0% per annum
�'� +I_ � 1 2012
BLIC RUSTEE
GRAND COUNTY
Term of Repayment: 10 years
Loan Contract No.: C150233, anuary 12, 2007 and amended May 30,
2008
Loan Payment: $96,
Payment Initiation Date *:
Maturity Date *:
WE
* 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 LOAN CONTRACT and this promissory note.
2. This Promissory Note replaces and supersedes the Promissory Note dated January
12, 2007, in the principal amount of $862,540.
3
Principal and interest shall be payable in equal 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. A.
4. Payments shall be made to the Color;
Street, Room 721, Denver, Colorado
5. The CWCB may impose a late charc
the CWCB does not receive the ann
date.
Board at 1313 Sherman
the annual payment if
lendar days of the due
6. This Note may be prepaid in whole or in JT t 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.
8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the
BORROWER. The LOAN CONTRACT creates security interests in favor of the
Appendix A to Loan Contract C150233