Laserfiche WebLink
SECTION 5-SCHEDULE OF EXISTING DEBT <br /> As of the date of the CWCB loan approval, the BORROWER has two existing loans with <br /> the Colorado Water Conservation Board.The loans are in good standing. <br /> TABLE OF EXISTING DEBT <br /> Lender Original Current Annual Maturity Collateral <br /> Balance Balance Payment Date <br /> CWCB Pledge of Assessments and Project <br /> (Contract C150109) $1,000,000 $693,790 $49,384 2034 Itself <br /> CWCB Pledge of Assessments and Project <br /> (Contract Cl50189' $1,620,492 $1,298,030 $77,423 2038 Itself(Big Windsor Res Inlet <br /> Structure Et Lake Lee Dam <br /> SECTION 6-LOAN SECURITY <br /> The SECURITY for this loan, as evidenced by the executed SECURITY AGREEMENT <br /> (APPENDIX 5) and incorporated herein, shall be: (i) an irrevocable (but not exclusive) <br /> pledge to the CWCB of the PLEDGED REVENUES in such amount as is necessary to <br /> make each annual payment due under this LOAN CONTRACT; (ii) a rate covenant; and <br /> (iii) annual financial reporting in accordance with CWCB Policy No. 5 and an <br /> undivided one hundred percent (ioo%) interest in the headgate structure as more <br /> particularly described in the attached DEED OF TRUST (APPENDIX 6), incorporated <br /> herein, and in accordance with CWCB Policy No. 5. <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 /> prepare plans and specifications for the PROJECT. <br /> B. Engineering contracts and the plans and specifications must be submitted to the <br /> CWCB staff for verification of compliance with the terms of this CONTRACT when <br /> available prior to bidding. Any modifications, to the plans and specifications that <br /> effect changes to the construction costs must be approved in writing by CWCB. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by§ <br /> 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br /> Engineer's Office prior to construction. <br /> Appendix i <br /> Page 2 of 4 <br />