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SECTION 5—SCHEDULE OF EXISTING DEBT(OR SCHEDULE OF PARITY BONDS) <br /> As of the date of the CWCB loan approval, the BORROWER has outstandin the <br /> following obligations, which constitute Existing PARITY LOANS under the OAN <br /> CONTRACT and will require a Parity Certificate. <br /> EXISTING DEBTI <br /> Lender Project Current Annual Maturity Collateral <br /> Balance Payment Date <br /> Colorado Water <br /> Resources and Water system Water Enterprjise <br /> Power Development improvements $1,451,930 $277,610 2022 Revenues <br /> Authority <br /> Colorado Water <br /> Resources and Water system Water Enterprise <br /> Power Development improvements $2,961,332 $244,738 2030 Revenues <br /> Authority <br /> The BORROWER will provide to the CWCB a Parity Certificate, fro an <br /> independent certified public accountant, certifying that based on an analy is of <br /> the BORROWER'S revenues, for 12 consecutive months out of the 18 m nths <br /> immediately preceding the date of issuance of such parity debt, the BORRO ER'S <br /> revenues are sufficient to pay its annual operating and maintenance expe ses, <br /> annual debt service on all outstanding indebtedness having a lien on the <br /> PLEDGED REVENUES, including this loan, the annual debt service on the proposed <br /> indebtedness to be issued, and all required deposits to any reserve funds <br /> required by this CONTRACT or by the lender(s) of any indebtedness having a lien <br /> on the pledged revenues. The analysis of revenues shall be based on the <br /> BORROWER'S current rate structure or the rate structure most recently adopted. <br /> No more than 10% of total revenues may originate from tap and/or connection <br /> fees. <br /> SECTION 6—LOAN SECURITY <br /> The SECURITY for this loan, as evidenced by the executed SECU ITY <br /> AGREEMENT (APPENDIX 5) and incorporated herein, shall be: (i an <br /> irrevocable (but not exclusive) pledge to the CWCB of the Pledged Revenu s in <br /> such amount as is necessary to make each annual payment due unde this <br /> LOAN CONTRACT, on a parity with all Parity Indebtedness; (ii) a rate cove ant; <br /> and (iii) annual financial reporting. <br /> SECTION 7— ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> None. <br /> SECTION 8—"CONSTRUCTION FUND PROGRAM" PROCEDURES FOR PROJECTS <br /> A. The BORROWER shall employ an engineer, registered in the State of Colorado to <br /> Appendix 1 <br /> Page 2 of 4 <br />