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time thereafter declare all outstanding principal,interest,and late ch ges, if any,on this loan
<br /> immediately due and payable.
<br /> 13. RELEASE AFTER LOAN IS REPAID
<br /> Upon complete repayment to the CWCB of the entire principal, all accrued interest, and late
<br /> charges, if any, as specified in the Promissory Note, the CWCB agrees to release and terminate
<br /> any and all of the CWCB's right,title,and interest in and to the Pledged Revenues and the Pledged
<br /> Property.
<br /> 14. WARRANTIES
<br /> A. The Borrower warrants that, by acceptance of the loan under this Contract and by its
<br /> representations herein,the Borrower shall be estopped from asserting for any reason that it is
<br /> not authorized or obligated to repay the loan to the CWCB as required by this Contract.
<br /> B. The Borrower warrants that it has not employed or retained any company or person, other
<br /> than a bona fide employee working solely for the Borrower,to solicit or secure this Contract
<br /> and has not paid or agreed to pay any person,company,corporation, individual,or firm,other
<br /> than a bona fide employee, any fee, commission, percentage, giftor other consideration
<br /> contingent upon or resulting from the award or the making of this C�ntract.
<br /> C. The Borrower warrants that the Pledged Revenues and Pledged Property for this loan are not
<br /> encumbered by any other deeds of trust or liens of any party other than the CWCB or in any
<br /> other manner, except for the Existing Parity Loans which sets forth the position of the lien
<br /> created by this Contract in relation to any existing lien(s). Documentation establishing the
<br /> relative priorities of said liens, if necessary, is attached to the Project Summary and
<br /> incorporated herein.
<br /> 15. CHANGE OF OWNERSHIP OF WATER SHARES DURING TERM OF CONTRACT
<br /> If the interest rate for this loan is based on the CWCB's agricultural or blended agricultural and
<br /> municipal and/or commercial and/or industrial rates, the Borrower agrees to notify the CWCB of
<br /> any change of the ownership of the water rights represented by its shares from irrigation to
<br /> municipal or commercial or industrial use. The interest rate shall be revised when said change in
<br /> ownership would increase the original interest rate by one-half percent(0.5%)or more. The parties
<br /> shall amend this Contract including a revised Promissory Note, to effect said change in interest
<br /> rate.
<br /> 16. OPERATION OF PROJECT
<br /> The Borrower shall,without expense or legal liability to the CWCB,manage,operate,and maintain
<br /> the Project continuously in an efficient and economical manner.
<br /> 17. CONFIDENTIAL INFORMATION-STATE RECORDS
<br /> A. Confidentiality
<br /> Borrower shall keep confidential, and cause all Subcontractors to keep confidential,all State
<br /> Records,unless those State Records are publicly available. Borrower shall not, without prior
<br /> written approval of the State,use,publish,copy, disclose to any thir4 party, or permit the use
<br /> by any third party of any State Records,except as otherwise stated in this Contract,permitted
<br /> by law or approved in Writing by the State. Borrower shall provide for the security of all
<br /> State Confidential Information in accordance with all policies promulgated by the Colorado
<br /> Office of Information Security and all applicable laws, rules, policies, publications, and
<br /> guidelines including, without limitation: (i) the most recently promulgated IRS Publication
<br /> Contract Number:CT2019-3706 Page 10 of 20 Version 0119
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