Laserfiche WebLink
i. BASE LOAN AMOUNT: LOAN AMOUNT THAT DOES NOT INCLUDE THE ONE PERCENT(1%) <br /> LOAN ORIGINATION FEE.THIS IS THE AMOUNT DISBURSED BY CWCB TO THE BORROWER. <br /> ii. Borrower:AN ELIGIBLE ENTITY,AS SPECIFIED,WHO WILL BE RESPONSIBLE FOR THE <br /> REPAYMENT OF THE LOAN. <br /> iii. COLLATERAL: PROPERTY OR OTHER ASSETS THAT THE BORROWER OFFERS TO SECURE THE <br /> LOAN. <br /> iv. EVIDENCE OF INSURANCE:ACORD 25 FORM.WRITTEN DOCUMENTATION OF INSURANCE. <br /> v. LOAN DOCUMENTS: INCLUDE ALL FORMAL LOAN CONTRACT DOCUMENTS INCLUDING BUT <br /> NOT LIMITED TO THE EXECUTED LOAN CONTRACT,ALL EXECUTED APPENDICES,AND ALL <br /> EXECUTED AMENDMENTS. <br /> vi. LOAN ORIGINATION FEE:ONE(1%) OF THE BASE LOAN AMOUNT. <br /> vii. PLEDGED REVENUES:THE COLLATERAL THE BORROWER OFFERS TO SECURE THE LOAN.THE <br /> PLEDGED REVENUES SHALL CONSIST SOLELY OF BORROWER'S ASSESSMENT REVENUE. THE <br /> PLEDGED REVENUES SHALL NOT INCLUDE ANY OF BORROWER'S POWER REVENUE <br /> GENERATED BY THE GRAND VALLEY PROJECT POWER PLANT, GRANT REVENUE FROM ANY <br /> SOURCE, OR ANY OF THE RESTRICTED FUNDS BORROWER MUST MAINTAIN IN SEPARATE <br /> ACCOUNTS UNDER ITS AGREEMENTS WITH THE UNITED STATES, SUCH AS ITS LICENSE OF <br /> POWER PRIVILEGE RESERVE ACCOUNT AND ITS OPERATION AND MAINTENANCE RESERVE <br /> ACCOUNT. <br /> viii. PROMISSORY NOTE:THE DOCUMENT PROVIDING A WRITTEN AGREEMENT TO PAY THE <br /> TOTAL LOAN AMOUNT TO CWCB. <br /> ix. SECURITY AGREEMENT:THE DOCUMENT THAT PROVIDES A SECURITY INTEREST IN A <br /> SPECIFIED ASSET PLEDGED TO REPAY THE LOAN. <br /> x. TOTAL LOAN AMOUNT: BASE LOAN AMOUNT AND LOAN ORIGINATION FEE OF ONE <br /> PERCENT(1%). <br /> B. LOAN PROVISIONS <br /> 1. Loan Origination Fee. The TOTAL LOAN AMOUNT shall include (1) the BASE LOAN <br /> AMOUNT loaned by the CWCB, to the BORROWER, for the PROJECT and (2) a LOAN <br /> ORIGINATION FEE of one percent (1%) of the BASE LOAN AMOUNT. <br /> 2. Amendments and Option Letters. In the event that the BORROWER does not use the <br /> full amount authorized, the parties shall amend this CONTRACT or exercise an OPTION <br /> LETTER (attached as APPENDIX 2) to revise the TOTAL LOAN AMOUNT including an <br /> Page 2 of 14 <br />