Laserfiche WebLink
current balance of$152,716.74,with annual payments of$14,457.52•The loan has <br /> an estimated maturity date of 203o and is in good standing. <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) an assessment <br /> covenant; (iii) annual financial reporting, and (iv) an undivided one hundred percent <br /> (loo%) interest in the Jimmy Camp Creek Siphon as more particularly described in <br /> the attached DEED OF TRUST (APPENDIX 6), incorporated herein. All LOAN SECURITY <br /> shall be 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 /> D. The BORROWER shall notify CWCB of the bid opening date, time and location. CWCB <br /> staff may elect to attend the bid opening. <br /> E. CWCB must approve the award of the construction contract. <br /> F. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, selected by the BORROWER and found acceptable by the <br /> CWCB staff. <br /> G. The BORROWER must provide a copy of the following construction contract <br /> documents: executed contractor's proposal, executed construction contract, executed <br /> performance bond, executed payment bond, executed notice of award,proposed <br /> notice to proceed, sample change order, and sample field order, as well as the <br /> advertisement for bid. After the CWCB staff verifies that these documents comply <br /> with the terms of this CONTRACT,the BORROWER may issue the notice to proceed to <br /> the Construction Firms. <br /> Appendix i <br /> Page 2 of 4 <br />