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PFt�MISS(JRY NOTE <br />Date: Septern�er 25,�2Q14 <br />Borro+�rer= Parker Water and Sanitation �istrict �ctir�g by and through �ts <br />Water Actia�ty Enterprise <br />Pr�ncipaf Amount: $4,42fi,83�J.00 <br />fnterest Ra�e: 2.75% per anr�um <br />Term of Repayment: 2p years <br />Loan CONTRACT Na.: C15Q41 aA <br />Loan Payment: $29�,i'17.59 <br />Pay�er�t lnitiation �afe�: � �f::�.�,., � , � �,�'.5� <br />Maturi�y Date*: .��%.���..•� /.. � � �.�.3r <br />* Payment Initiat�o� Da�e and Maturity �ate fields are fkled in after th� p�raj�et has beEn <br />substantially completed. <br />'f . Fo�t Va�.u� R�c�iv�o, the BoR�o�nr�R promises ta pay tf�e Colorado V11at�r C�onservatian Baard <br />(°°CWCB"}, tF�e Pr�ncipal Amount plus (nter�st for ihe Terrr� of R�payrrtent, �a�rsuant to th� LOArv <br />CON7RACT ��1d th1S PROIUIfSS�RY NOTE. <br />2. Principal ar�d interest shail be pay�ble in equai Loan Payrnents, wit� the first payment due and <br />�ayaEale ane year from Payment lnitiation Date (ihe date the CWCB determines that the prc�j�cfi <br />is substantially cc�mplete), and anr�ually thereafter. Ali principaf, interest, and Eaie charges, ii <br />any, th�n remainir�g un�aid shall be due ar�d payable on Qr �e#ore the Maturity Date. <br />3. Payments shall �e ma�de to the Gvlarado Water Conservation Baard af 1313 Sherman Str�et, <br />Room 718, Den�er, Colarada 8Q203. <br />4. The GWCB may impose a ia#� ci�arge in #h� �moun� af 5% of #he annual paym�nt if the CWCB <br />does not rec�ive the annuai payment within 1� calendar days of the due date. <br />5. This PROn�issoR� No� may be prepaid in whofe Qr in �aart at any time without premium or <br />penalty. Any partiaP pre�aayment shall not postpone the due date of a�y subse€�uent payrr�ents <br />or chang� tF�e amoun� of such payments. <br />6. All paymer�ts received shail be ap�lied first tv late c��rges, if any, next #o accrued interest ancf <br />th�r� to reduce the �principal amount. <br />7. This P�zoMisso�tY No`�� is issuec� �ursuant �o the L4An� CoNTRa�T befinreen the GWCB anc! the <br />BoR�ow��t. The Lo�,n� CoN��taCT creates sec�rity interests in favo� of t�e CWCB t� secure <br />the prompt payment o# all amo�r�ts that may b�corrie due hereuncfer. Said s�curity i�ter�sis <br />are euidenced by: a SECIJRfTY AGR��M��1T O� euen date and at�ount and cv�rer cer�ain <br />revenues„ real �roperty, water righis ar�dlor accounts vf the �iORROw�R. The LoA�v �ONT�ACT <br />and S��u�tRT� AGREEM�r�T grant addition�� rights to the CWCB. <br />8. The CWCB s�all give the Bot��owER writt�n n�tice of any afleged defa�alt and an opportunity <br />to cure within thirty (3�) days of receipt of such notiCe }�efore the BORROWER Sh311 F�� <br />Appendix 2 to Loan Con#rac� G'15041i�A <br />Page 1 of 2 <br />