C153857 PIF

• Contract/PO #: C153857
• Contractor Name: Western Mutual Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

This Certificate WESTERN MUTUAL DITCH CO Certificate Number
Evidences A ASSIGNMENT 10 COLORADO WAIEH CONSERVATION BOARD SSN/TIN 4-0350690
Deposit In The p O. BOX 282 D/OB
Name(s)Of: LSA T E, CO 80645 Account Number 8003732
Date October 2, 2002
In The Amount Of Eight thousand five hundred seventy six and 1/100 dollars$ ,576.01
ACCOUNT TYPE AND TERMS-Only the boxes that are checked an the lines that are filled in apply.
Term(Initial) 6 months ❑ ditions permitted in a minimum amount of$
Maturity Date(First) 04/02/2003 ElF xed Rate ❑ Min.Balance Req.$
Interest Rate(Initial) 2.420 % ❑ riable Rate:Initial Index Rate % Maximum Rate %
Compounded Gaily inimum Rate %First Adjustment Date
Interest Calculated actual/365 justment Frequency
No.Endorsements Required for Withdrawal 0 to Formula
❑ Single Maturity El Automatically Renewable
Interest Paid monthly Weld County Bank
(a) EMBy adding it to the account balance 3635 23rd Avenue
(b) ❑ By Deposit To Acct. No. CC) 80620 �7�")x506-1000
BY (1E��ii J 1492 1ULf_P
DEFINITIONS: "We" and "us" means the financial institution. " ou" and SINGLE MATURITY: If the single maturity box is checked, the depositor
"your" means the depositor(s). "Certificate" means both this original' strument should present this certificate promptly at maturity for payment.
as well as the deposit it shows. This certificate (and the account it presents)
may not be transferred or assigned without our prior written consent nd is not Interest ❑ will ❑ will not accrue after maturity.
negotiable. AUTOMATIC RENEWALS: If the automatic renewal box is checked, this
VARIABLE INTEREST RATE: Your deposit will earn interest at e initial certificate will be automatically renewed after the stated maturity date stated for
interest rate stated on this certificate to the first adjustment date. The , and on successive terms, each equal to the original term. The interest rate will be the
each succeeding adjustment date,the rate this certificate will earn is su i ject to be same we offer on new certificates on the maturity date which have the same term,
increased or decreased according to the formula described on this ce cate. The minimum balance (if any) and other features as this original certificate. The
rate will remain the same between interest adjustment dates. depositor may call us on or shortly before the maturity date and we will tell the
If the "first adjustment date"is phrased in terms of"index change" is means depositor what the interest rate will be for the next renewal term.
the first adjustment date and the rate adjustment frequency after the first The automatic renewal of this certificate may be prevented if one of the
adjustment date are not regularly scheduled. In this case, the rate this ertificate following things happens:
will earn will be adjusted any time the"index"changes. (1)This certificate is personally presented for payment on a maturity date or
The interest rate we will pay on this certificate will not, however, r greater
than the stated maximum rate(if any)or be less than the stated minim m rate(if within 10 days after the mat-Laity date;or
any)regardless of changes in the index rate. (2) We receive written notice frim the depositor before a maturity date of
COMPOUNDING:The compounding frequency and interest calculati,n method their intention to cash in this certificatie.
will not change during the term of the certificate,regardless of adjustm nts to the YOUR DEPOSIT WILL ❑ WILL NOT EARN INTEREST AFTER
interest rate,until we give reasonable notice to you of such change.
FINAL MATURITY.
ADDITIONS: If we permit you to make any additions, they wil only be
permitted in an amount equal to,or greater than,the minimum amount indicated. Endorsements(Sign only when requesting withdrawal):
The making of additions to this certificate will not extend the maturi of all, or
any portion,of the funds on deposit. Additions will earn interest from I e date of
deposit, and will mature at the same time as the first deposit. No add tions may x
be made within days of the final maturity date. x
NOTICE OF PENALTY FOR EARLY WITHDRAWAL • VARIABLE RATE TIME DEPOSIT: For any time deposit which earns a rate
Except as mentioned below, you cannot withdraw any principal from this that may vary from time to time during the term, the interest rate we will use to
account before a maturity date without our consent and we will charge a penalty. calculate this interest forfeiture will be:
We can only consent to an early withdrawal at the time you request it. The
penalty will be an amount equal to: ❑average (weighted for time) of the simple interest rates earned on this
[lithe greatest of: (1) all of the interest earned on the amount withdrawn certificate up to the date of withdrawal;
from the most recent date of deposit or last renewal, (2) all the interest ❑simple interest rate in effect on the date that this account is opened;or,
that could have been earned on the amount withdrawn during a period
equal to one-half of the maturity period,or(3)seven days'interest on the ❑the simple interest rate in effect oti the date of early withdrawal.
amount withdrawn.
Minimum Balance Account: If we require a minimum balance on this account,
none month's interest on the amount withdrawn. we may treat any withdrawal that reduces the balance below such minimum as a
❑three months'interest on the amount withdrawn. withdrawal of the entire balance and calculate the penalty accordingly.
❑ EXCEPTIONS: Federal regulations permit, or in some cases require, the
waiver of the early withdrawal penalty if:
We will charge the penalty first against any interest then in the account, and any (1)any account owner dies or is declared incompetent,or
excess will be deducted from the amount you withdraw. (2)t`uis is an I.R.A. or Keogh account and you are at least 59'h years of
FIXED RATE TIME DEPOSITS: For a fixed rate time deposit we will use the age or disabled at the time of the withdrawal request,or
nominal (simple interest) rate in effect to calculate the amount of the applicable
penalty. (3) this is an I.R.A. or Keogh account and the request for withdrawal is
made within seven days of establishing the account. (The penalty in such
case will be all interest earned on the amount withdrawn.)
©1982,1990 Bankers Systems,Inc.,St.Cloud,MN 11-800-397-2341) Form VFRCD-LAZ 7/22/94 VARIABLE/FIXED RATE TIME CERTIFICATE OF DEPOSIT (page 1 of 1)
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