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C150294 Contract
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C150294 Contract
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Last modified
3/12/2013 7:32:03 AM
Creation date
3/11/2013 10:17:55 AM
Metadata
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Loan Projects
Contract/PO #
C150294
Contractor Name
Snowmass Water & Sanitation District
Contract Type
Loan
Water District
0
County
Pitkin
Loan Projects - Doc Type
Contract Documents
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2. Contract Amendment Service Fees. Underact certain circumstances, the BORROWER <br />shall be assessed a fee for amending the con <br />a. A service fee shall be imposed on the BORROWER o °the BORROWER'S course f of <br />the benefit of the BORROWER and necessary <br />business but not necessary for the CWCB, including, but not limited to, a change <br />in borrower name (novation), assignment of contract, and substitution of o ll ation. <br />loan payment deferments in excess of 3 per loan <br />CWCB business, <br />Amendments in the course of d chan cesdingterrms of loan repayment <br />payment deferments (up to 3 per loan), and 9 <br />will be processed at no additional charge to <br />fee ate structure set forth in <br />b. The amount charged shall be in accord ance <br />the CWCB Loan Service Charge Policy in effec m t the time <br />is BORROWER shall <br />request an amendment. The current fee for an a <br />c. The BORROWER shall remit the service fee to the CWCB tbe rto ded ion of the <br />amendment. Any service fee remitted to the CWCB cannot <br />3. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER e loan in to repay th <br />amount not to exceed the LOAN AMOf rtand n the Prom ssory Notes attached hereto as <br />accordance with the terms as set <br />LOAN <br />Appendix 2 and incorporated herein. The Prom BoRROwEhR differs <br />AMOUNT. If the amount of loan funds disbursed by the CWCB to the <br />from the LOAN AMOUNT, the parties agree to amend this contract, including its <br />appendices where necessary, to revise the LOAN AMOUNT. <br />4. Interest Prior to PROJECT Completion. As the loan funds the CWCB for by he CWCB <br />to the BORROWER, interest shall accrue at the rate se y The <br />CWCB shall calculate the amount of the interest B and note BORROWER of such <br />substantial completion (as determined ba the <br />mount to the CWCB either within ten (10) <br />amount. The BORROWER shall repay <br />CBs discretion, said <br />days from the date of notification from the CWCB, or , at the funds that the CWCB <br />interest shall be deducted from the final disburseme nt <br />makes to the BORROWER. <br />5. Return of Unused Loan Funds. Any loan funds disbursed shall be erem remitted to the CWCB <br />PROJECT in accordance with the terms of this contra completion of the <br />within 30 calendar days from notification from the CWCB of either (1) <br />PROJECT or (2) determination by the CWCB that the PROJECT will not be completed. <br />6. BORROWER's Authority To Contract. The BORROWER warrants that it has full power <br />and authority to enter into this contract. The execution ions and obligato'nsh have been <br />the performance and observation ofa�ions of he BORROWER. The BORROWER'S <br />duly authorized by all necessary Appendix 3 and incorporated <br />authorizing resolution(s) or ordinance(s) are attached as Apps <br />herein. <br />Loan Contract C150294 <br />Page 2 of 11 <br />
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