C150243 PIF Documents

• Contract/PO #: C150243
• Contractor Name: Aurora, City of
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

c. The BORROWER warrants that it has not employed or retained any company or
person, other than its legal counsel, financial advisor or t'`'• • 'de - mployees
working solely for the BORROWER, to solicit or secure this Co : • &�': " •, paid
or agreed to pay any person, company, corporation, individua , • •' . • ;''than
its legal counsel, financial advisor or bona fide emp , n ee, commission,
percentage, gift, or other consideration contingent up ult • d
or the making of this Contract.
d. The BORROWER warrants that the Pledged Revenues and collateral for this loan
are not encumbered by any liens other than the LOAN and the obligations identified
in Factual Recital 7 herein, which sets forth the position of the lien created by this
Contract in relation to any existing lien(s).
e. Return of Inadvertently Disbursed Loan Funds. Any loan funds inadvertently
disbursed by the CWCB but not expended for the PROJECT in accordance with the
terms of this Contract shall be remitted to the CWCB within 30 calendar days from
notification from the CWCB of either (1) completion of the PROJECT or (2)
determination by the CWCB that the PROJECT will not be completed.
12. Default. Events that constitute a default are described in Section 8.01 of the General
Ordinance (Appendix 3).
13. Remedies For Default. Upon default in the payments to be made by the BORROWER
under this Contract, or default in the performance of any covenant or agreement
contained herein, the CWCB, at its option, may:
a. suspend the right to loan disbursements and withhold further loan disbursements
pending corrective action by the BORROWER, and if the BORROWER does not cure the
default as provided for below, permanently cease loan disbursements and proceed
with repayment of the Loan;
b. exercise its right under this Contract and the Promissory Note in the manner and
according to the procedure provided in Article 8 of the General Ordinance (Appendix
3).
c. Procedure for suspension of the contract. The CWCB shall provide written
notice to the BORROWER of any such default and suspension and shall give the
BORROWER an opportunity to cure within sixty (60) days of receipt of such notice. If,
within sixty (60) days of written notice of suspension of disbursements the Borrower
has made no effort to cure the default, the suspension shall be deemed final and
the CWCB shall deem the Project substantially complete.
14. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liability to the
CWCB, manage, operate and maintain the PROJECT as a part of the System in the
manner required by the General Ordinance and Section 6.09 thereof.
15. BORROWER'S Liability Insurance.
Loan Contract C150243
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