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BOARD01540
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Last modified
8/16/2009 3:02:58 PM
Creation date
10/4/2006 6:57:10 AM
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Board Meetings
Board Meeting Date
9/10/2002
Description
CF Section - Policy #16 - Construction Fund and Severance Tax Trust Fund Perpetual Base Account Loan Service Changes
Board Meetings - Doc Type
Memo
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<br />-4- <br /> <br />Partial Releases of Collateral - A service fee of $500 will be assessed <br />for each partial release of collateral provided for in the loan contract to . <br />cover the CWCB's adm:inistrative costs, local and county recording <br />and releasing fees, and Colorado Secretary of State filing fees, where <br />applicable. Where a loan contract includes multiple deeds of trust (or <br />other security instruments), each additional instrument will be subject <br />to an additional $500 charge, For example, a contract with five deeds <br />of trust seeking a partial release will be charged $2,500, Such service <br />fee will be applied every time a partial release is prepared over the life <br />of the loan. The service fee shall be remitted to the CWCB by the <br />borrower prior to preparing the release documents, Partial releases <br />processed outside the terms of the contract and requiring a contract <br />amendm:ent will be considered an amendm:ent subject to a $1,000 <br />service fee. <br /> <br />Service Fee Schedule - The table below lists the loan contracts, <br />amendm:ents, and partial releases of collateral subject to a service fee <br />in accordance with the above policy. <br /> <br />LOANS AMENDMENTS PARTIAL RELEASES OF <br />1 % SERVICE FEE $1,000 PER AMElI\DMENT COLLATERAL <br /> $500 PER RELEASE <br />Construction Fund Partial releases not included Partial releases provided for <br /> in the terms ofthe loan in the loan contract <br />Severance Tax Trust Fund contract <br />Perpetual Base Account <br /> Change in borroweriname <br /> (novation) <br /> Assignment of contract <br /> Substitution of collateral <br /> Loan payment defet;ments (in <br /> excess of 3 per loan) <br /> Loan consolidation: <br /> <br />Flood Protection. Water Project Planning and-Financing. Stream. and Lake Protection <br />Waler Supply Protection. Conservation Planning <br /> <br />. <br /> <br />. <br />
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