C150273 Contract

• Contract/PO #: C150273
• Contractor Name: Ogilvy Augmentation Company
• Contract Type: Loan
• Water District: 0
• County: Weld
• Loan Projects - Doc Type: Contract Documents

PROMISSORY NOTE
Date: October 27, 2008
Borrower: Ogilvy Augmentation Company
cipal Amount: $523,584
Interest Rate: 2.5% per annum
Tetm of Repayment: 30 years
an Contract No.:
Loan Payment:
Payment Initiation Date *:
Maturity Date *:
* Paym nt Initiation Date
substanti Ily completed.
C150273, dated October 27, 2008
$25,015.61
dry / fT0.3
and Maturity Date fields are filled in after the project has been
1. FOR UALUE RECEIVED, the BORROWER promises to pay the Colorado Water Conservation Board
( "CW B "), the Principal Amount plus Interest for the Term of Repayment, pursuant to the LOAN
CONMAcT and this promissory note.
2. Princi Dal and interest shall be payable in equal Loan Payments, with the first payment due and
pays le one year from Payment Initiation Date (the date the CWCB determines that the project
is sut istantially complete), and annually thereafter. All principal, interest, and late charges, if
any, t ien remaining unpaid shall be due and payable on or before the Maturity Date.
3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street,
Roory 721, Denver, Colorado 80203.
4. The GWC13 may impose a late charge in the amount of 5% of the annual payment if the CWCB
does iot receive the annual payment within 15 calendar days of the due date.
5. This slote may be prepaid in whole or in part at any time without premium or penalty. Any
partia, prepayment shall not postpone the due date of any subsequent payments or change the
aMOL nt of such payments.
6. All pe yments received shall be applied first to late charges, if any, next to accrued interest and
then reduce the principal amount.
7. This slote is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER.
The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt
payrr ant of all amounts that may become due hereunder. Said security interests are evidenced
by a 3ioecurity Agreement and Deeds of Trust ( "Security Instruments ") of even date and amount
and c over certain revenues, real property, water rights and/or accounts of the BORROWER. The
LOAN CONTRACT and Security Instruments grant additional rights to the CWCB, including the
right accelerate the maturity of this Note in certain events.
8. If anj annual payment is not paid when due or any default under the LOAN CONTRACT or the
Secu ity Instruments securing this Note occurs, the CWCB may declare the entire outstanding
Appendix 2 to Loan Contract C150273
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