CT2019-2099 Contract

• Contract/PO #: CT2019-2099
• Contractor Name: Ogilvy Irrigating and Land Company
• Contract Type: Grant/Loan Combo
• Loan Projects - Doc Type: Contract Documents

C. The Borrower warrants that the Pledged Revenues and Pledged Prop rty for this loan are not
encumbered by any other deeds of trust or liens of any party other th the CWCB or in any
other manner, except for the Existing i Parity Loans which sets forth the position of the lien
created by this Contract in relation to any existing lien(s). Documentation establishing the
relative priorities of said liens, if necessary, is attached to the Project Summary and
incorporated herein.
18. CHANGE OF OWNERSHIP OF WATER SHARES DURING TE ' OF CONTRACT
If the interest rate for this loan is based on the CWCB's agricultural or lended agricultural and
municipal and/or commercial and/or industrial rates, the Borrower agree- to notify the CWCB of
any change of the ownership of the water rights represented by its s 1 ares from irrigation to
municipal or commercial or industrial use. The interest rate shall be revi ed when said change in
ownership would increase the original interest rate by 0.5% or more. The parties shall amend this
Contract including a revised Promissory NOte, to effect said change in int-rest rate.
19. OPERATION OF PROJECT
The Borrower shall,without expense or legal liability to the CWCB,mana_e,operate,and maintain
the Project continuously in an efficient and economical manner.
20. DISPUTE RESOLUTION
A. Initial Resolution
Except as herein specifically provided otherwis ,disputes concerni g the performance of this
Contract which cannot be resolved by the signated Contract representatives shall be
referred in writing to a senior departrnental mangement staff mem•-r designated by the State
and a senior manager designated by Borrower or resolution.
B. Resolution of Controversies
i. Resolution of Controversies other than Loan Default
For any dispute not involving borrower's default on the Lo. , if the initial resolution
described in §20.A., fails to resolve the dispute within 60 C usiness Days, Borrower
shall submit any alleged breach of this Contract by the State t Ii the Procurement Official
of the Colorado Department of Natural Resources as described i §24-101-301(30), C.R.S.
for resolution in accordance with the provisions of§§24-116-109, 24-109-101.1, 24-
109-101.5, 24-109-106, 24-109-107,24-109-201 through 24 109-206, and 24-109-501
through 24-109-505,C.R.S.,(the"Resolution Statutes"),exc'pt that if Borrower wishes
to challenge any decision rendered by the Procurement Off ial, Borrower's challenge
shall be an appeal to the executive director of the Dep. ment of Personnel and
Administration, or their delegate, under the Resolution .tatutes before Borrower
pursues any further action as permitted by such statutes. Ex ept as otherwise stated in
this Section, all requirements'of the Resolution Statutes sha 1 apply including, without
limitation, time limitations, regardless of whether this 1 ontract is subject to the
Colorado Procurement Code.,
ii. Resolution of Controversies 14ot Regarding Loan Default
For any dispute not involving Borrower's default on the Li an, if the initial resolution
described in §20., fails to resolve the dispute within 60 Bus's ess Days,the CWCB will
submit the dispute to the CWCB board for review, who wi 1 determine a resolution to
the dispute.
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Contract Number:CT2019-2099