My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CT2018-1335 Contract
CWCB
>
Loan Projects
>
DayForward
>
6001-7000
>
CT2018-1335 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/27/2017 11:05:58 AM
Creation date
9/27/2017 11:05:46 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
CT2018-1335
Contractor Name
Church Ditch Water Authority
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
PROMISSORY NOTE <br /> DATE: AUGUST 31,2017 <br /> BORROWER: CHURCH DITCH WATER AUTHORITY <br /> TOTAL LOAN AMOUNT: $3,615,800.00 <br /> INTEREST RATE: 3.0%PER ANNUM <br /> TERM OF REPAYMENT: THIRTY(3o)YEARS <br /> LOAN CONTRACT NUMBER: CT2018-1335 <br /> ANNUAL LOAN PAYMENT: $184,475.44 <br /> PAYMENT INITIATION DATE*: <br /> (To be filled in at Substantial Completion of Project) <br /> MATURITY DATE*: <br /> (To be filled in at Substantial Completion of Project) <br /> *Payment Initiation Date and Maturity Date fields are filled in after the project has been substantially <br /> completed. <br /> 1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water Conservation Board <br /> ("CWCB"), the Principal Amount plus Interest for the Term of Repayment, pursuant to the LOAN <br /> CONTRACT and this PROMISSORY NOTE. <br /> 2. Principal and interest shall be payable in annual equal payments as set forth in "Annual Loan <br /> Payment" above, with the first payment due and payable one year from the Payment Initiation <br /> Date (the date the CWCB determines that the project is substantially complete), and annually <br /> thereafter. All principal,interest,and late charges, if any,then remaining unpaid shall be due and <br /> payable on or before the Maturity Date. <br /> 3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street, Room <br /> 718, Denver, Colorado 80203. <br /> 4. The CWCB may impose a late charge in the amount of 5% of the annual payment if the CWCB <br /> does not receive the annual payment within 6o calendar days of the due date.At the discretion of <br /> the CWCB, and if the BORROWER requests in writing with sufficient justification, the late fee may <br /> be waived by the CWCB. <br /> 5. This PROMISSORY NOTE may be prepaid in whole or in part at any time without premium or <br /> penalty. Any partial prepayment shall not postpone the due date of any subsequent payments or <br /> change the amount of such payments. <br /> 6. This PROMISSORY NOTE is issued pursuant to the LOAN CONTRACT between the CWCB and the <br /> BORROWER. The LOAN CONTRACT creates security interests in favor of the CWCB to secure the <br /> prompt payment of all amounts that may become due hereunder. Said security interests are <br /> evidenced by a SECURITY AGREEMENT and DEED OF TRUST ("SECURITY INSTRUMENTS") of even date <br /> and amount herewith and cover the PLEDGED REVENUES. The LOAN CONTRACT and SECURITY <br /> INSTRUMENTS grant additional rights to the CWCB, including the right to accelerate the maturity <br /> of this PROMISSORY NOTE in certain events. <br /> Appendix 3 <br /> Page 1 of 2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.