C150335 PIF Documents

• Contract/PO #: C150335
• Contractor Name: Cemter of Colorado Water Conservancy District
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Note, the CWCB agrees to release and terminate any and all of the CWCB's right, title,
and interest in and to the Pledged Revenues.
11. Warranties.
a. The BORROWER warrants that, by acceptance of the loan under this contract and by
its representations herein, the BORROWER shall be estoppe f om asserting for any
reason that it is not authorized or obligated to prepay th A o e CWCB as
required by this contract.
b. The BORROWER warrants that it has not empl et.'sed a` pany or
person, other than a bona fide employee workin s ely 111 = : •RROWER, to
solicit or secure this contract and has not paid or ag - 4 •erson,
company, corporation, individual, or firm, other than a bona fide ° 4 - any fee,
commission, percentage, gift, or other consideration contingent upo -suiting
from the award or the making of this contract.
c. The BORROWER warrants that the Pledged Revenues and collateral for this loan
are not encumbered by any other deeds of trust or liens of any party ther than the
CWCB or in any other manner, except for any existing lien(s) identifie in Section 5
(Schedule of Existing Debt) of the Project Summary, which sets fort the position
of the lien created by this contract in relation to any existing lien(s).
12. Remedies For Default. Upon default in the payments to be made by th BORROWER
under this contract, or default in the performance of any covenant r agreement
contained herein, the CWCB, at its option, may:
a. suspend this contract and withhold further loan disbursements pendi g corrective
action by the BORROWER, and if the BORROWER does not cure the default as
provided for below, permanently cease loan disbursements and deem the PROJECT
substantially complete;
b. exercise its rights under any appendices to this contract, including, but of limited to,
the Promissory Note and Security Agreement; and/or
c. take any other appropriate action.
The CWCB shall provide written notice to the BORROWER of any such def:ult and shall
give the BORROWER an opportunity to cure within thirty (30) days of re' -ipt of such
notice. All remedies described herein may be simultaneously or se -ctively and
successively enforced. The CWCB may enforce the provisions of this ',intact at its
option without regard to prior waivers of previous defaults by the BORRO! ER, through
judicial proceedings to require specific performance of this contract, or 4 such other
proceedings in law or equity as may be deemed necessary by the CW4 B to ensure
compliance with provisions of this contract and the laws and regulations under which
this contract is executed. The CWCB's exercise of any or all of t e remedies
described herein shall not relieve the BORROWER of any of its duties an I obligations
under this contract.
Loan Contract C150335
Page 5 of 12