Laserfiche WebLink
Appendix A,Amendment No.1 to Loan Contract CT2018-1616 <br /> Amendment to Promissory Note <br /> Date: June 18,2018 <br /> Borrower: Castle Pines North Metropolitan District,acting by and through the water <br /> activity enterprise <br /> Total Loan Amount: $5,462,484.00 <br /> Interest Rate: 3.00%per annum <br /> Term of Repayment: 30 years or until loan is paid in full <br /> Loan ContractNo.: CT2018-1616 <br /> Loan Payment: $278,691.89 <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 /> For Value Received,the Borrower promises to pay the Colorado Water Conservation Board("CWCB"),the <br /> Principal Amount plus Interest for the Term of Repayment, pursuant to the Loan Contract and this <br /> promissory note. <br /> 1. This Amendment to Promissory Note in the revised total loan amount shall replace and supersede the <br /> Original Promissory Note, attached as Appendix 2 to the Original Loan Contract (in the amount of <br /> $4,143,020.00)and incorporated by reference. <br /> 2. Principal and interest shall be payable in equal Loan Payments,with the first payment due and payable <br /> one year from Payment Initiation Date,and annually thereafter. All principal,interest,and late charges, <br /> if any,then remaining unpaid shall be due and payable on or before the Maturity Date. <br /> 3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street Room 718, <br /> Denver,Colorado 80203. <br /> 4. The CWCB may impose a late charge in the amount of 5% of the annual payment if the CWCB does <br /> not receive the annual payment within sixty(60)calendar days of the due date. <br /> 5. This Note may be prepaid in whole or in part at any time without premium or penalty. Any partial <br /> prepayment shall not postpone the due date of any subsequent payments or change the amount of such <br /> payments. <br /> 6. All payments received shall be applied first to late charges, if any,next to accrued interest and then to <br /> reduce the principal amount. <br /> 7. This Note is issued pursuant to the Loan Contract between the CWCB and the Borrower. The Loan <br /> Contract creates security interests in favor of the CWCB to secure the prompt payment of all amounts <br /> that may become due hereunder. Said security interests are evidenced by a Security Agreement <br /> ("Security Instrument")of even date and amount and cover certain revenues of the Borrower. The Loan <br /> Contract and Security Instruments grant additional rights to the CWCB,including the right to accelerate <br /> the maturity of this Note in certain events. <br /> 8. If any annual payment is not paid when due or any default under the Loan Contract or the Security <br /> Instruments securing this Note occurs,the CWCB may declare the entire outstanding principal balance <br /> Appendix A <br /> Page 1 of 2 <br />