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C150210 Paid in Full Contract
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C150210 Paid in Full Contract
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Last modified
4/12/2017 2:07:16 PM
Creation date
4/12/2017 2:06:46 PM
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Loan Projects
Contract/PO #
C150210
Contractor Name
Little Thompson Water District
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
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PROMISSORY NOTE <br /> Date: December 1, 2005 <br /> Borrower: Little Thompson Water District acting by and through the <br /> Little Thompson Water District Water Activity Enterprise <br /> Principal Amount: $4,994,955 <br /> Interest Rate: 3.6% per annum <br /> Term of Repayment: 20 years <br /> Loan Contract No.: C150210, dated December 1, 2005 <br /> Loan Payment: $354,637.99 <br /> Payment Initiation Date*: oe la Ile, <br /> Maturity Date*: 0 c.h z G 2 <br /> * Payment Initiation Date and Maturity Date fields are filled in after the project has been <br /> substantially completed. <br /> I. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water Conservation <br /> Board ("CWCB"), the Principal Amount plus Interest for the Term of Repayment, pursuant to <br /> the LOAN CONTRACT and this promissory note. <br /> 2. Principal and interest shall be payable in equal Loan Payments, with the first payment due and <br /> payable one year from Payment Initiation Date (the date the CWCB determines that the <br /> project is substantially complete), and annually thereafter. All principal, interest, and late <br /> charges, if any, then remaining unpaid shall be due and payable on or before the Maturity <br /> Date. <br /> 3. Payments shall be made to the Colorado Water ConservatoR.Bd;l rt 1` Sherman Street, <br /> Room 721, Denver, Colorado 80203. k <br /> 4. The CWCB may impose a late charge in the amount o /o of the ann ment if the <br /> CWCB does not receive the annual payment within 15 tale r th e de. <br /> :, ; <br /> 5. This Note may be prepaid in whole or in part at an tho , r rte <br /> Any <br /> partial prepayment shall not postpone the due date y bsequent payments or change <br /> the amount of such payments. <br /> 6. All payments received shall be applied first to late charges, if any, next to accrued interest and <br /> then to reduce the principal amount. <br /> 7. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER. <br /> The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt <br /> payment of all amounts that may become due hereunder. Said security interests are <br /> evidenced by a Security Agreement ("Security Instruments") of even date and amount and <br /> cover certain revenues, real property, water rights and/or accounts of the BORROWER. The <br /> LOAN CONTRACT and Security Instruments grant additional rights to the CWCB. <br /> Appendix 2 to Loan Contract C150210 <br /> Page 1 of 2 <br />
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