CT2018-980 Contract

• Contract/PO #: CT2018-980
• Contractor Name: Corsentino Dairy Farm
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

i. "BASE LOAN AMOUNT"LOAN AMOUNT THAT DOES NOT INCLUDE THE ONE PERCENT(1%)
LOAN ORIGINATION FEE.THIS IS THE AMOUNT DISBURSED BY CWCB TO THE BORROWER.
ii. `BORROWER"AN ELIGIBLE ENTITY,AS SPECIFIED,WHO WILL BE RESPONSIBLE FOR THE
REPAYMENT OF THE LOAN.
iii. "COLLATERAL"PROPERTY OR OTHER ASSETS THAT THE BORROWER OFFERS TO SECURE THE
LOAN.ALSO REFERRED TO AS PLEDGED PROPERTY.
iv. "EFFECTIVE DATE"THE DATE ON WHICH THIS CONTRACT IS APPROVED AND SIGNED BY THE
COLORADO STATE CONTROLLER OR DESIGNEE,AS SHOWN ON THE SIGNATURE AND COVER
PAGE OF THIS CONTRACT.
V. "EVIDENCE OF INSURANCE"WRITTEN DOCUMENTATION OF INSURANCE WITH A COMPANY
THAT HAS AN AM BEST RATING OF A-VIII OR BETTER WRITTEN ON AN INSURANCE SERVICES
OFFICE OCCURRENCE FORM(ACORD25).
vi. "DEED OF TRUST"A SECURITY INSTRUMENT CONVEYING TITLE IN TRUST TO CWCB
COVERING A PARTICULAR PIECE OF PROPERTY. IT IS USED TO SECURE PAYMENT OF THE
PROMISSORY NOTE.
vii. "LOAN CONTRACT"THIS AGREEMENT, INCLUDING ALL ATTACHED APPENDICES,ALL
DOCUMENTS INCORPORATED BY REFERENCE,ALL REFERENCED STATUTES,RULES AND CITED
AUTHORITIES,AND ANY FUTURE MODIFICATION THERETO.
viii. "LOAN ORIGINATION FEE"ONE(1%) OF THE BASE LOAN AMOUNT.
ix. "LOAN SECURITY"THE ASSETS THE BORROWER OFFERS TO SECURE THE LOAN.
X. "PROJECT"SEE PARAGRAPH j.PURPOSEAND TERMS,FOR NAME AND DESCRIPTION OF THIS
PROJECT.
Xi. "PROMISSORY NOTE"THE DOCUMENT ISSUED TO SECURE REPAYMENT OF THE LOAN.THE
PROMISSORY NOTE STATES THE TOTAL LOAN CONTRACT AMOUNT, INTEREST RATE,TERM OF
REPAYMENT,AND ANNUAL PAYMENT AMOUNT.
Xii. "TOTAL LOAN AMOUNT"THE BASE LOAN AMOUNT PLUS THE LOAN ORIGINATION FEE OF
ONE PERCENT(1%)
B.LOAN PROVISIONS
1. Loan Origination Fee. CWCB's LOAN ORIGINATION FEE of one percent (1%) in
accordance with CWCB POLICY No. 16, added to the BASE LOAN AMOUNT, results in the
TOTAL LOAN AMOUNT of the LOAN CONTRACT.
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