Laserfiche WebLink
<br />e, The BORROWER shaH remit the payments to the Colorado Water Conservation <br />Boarc1, 1313 Sherman Street, Room 721, Denver, Colorado 80203. <br /> <br />f. This loan may be prepaid in 'N~K)le or in part at any time without premium or penalty, <br />Any partial prepayment shail not postpone the due date of any su[)sequent payments <br />or change the amount of such payments, <br /> <br />g. Ai! payments received shall be applied first to accrued interest and then to reduce Hle <br />principal amount. <br /> <br />h The BORR,OWER shal! pay in full all principal and interest due on this loan no later than <br />September 30,2057. Pursuant to 31 U.S,CA 3123, the Bor,ROWER piedfjElS its full <br />faith and credit to repay this loan, <br /> <br />5. Option to Not Remit Annual Payment. The BORROWER may elect to not remit an <br />annual loan payment for the purpose of minimizing the impact of loan f'epayment on <br />electric power rates, The CWCB shall send the BORROWER a reminder letter one month <br />prior to each loan payment due date. The BCRROWER shall notify the CWCB on or before <br />the due c1ate of the loan payment if it elects to not remit that payment in order to minimize <br />the impact of loan repayment on electric power rates. If the SORROVVER exercises this <br />option, no late charges will be applied to the loan and interest shall continue to accrue" <br /> <br />Q, Return of Unused Loan Funds. Any CWCS funds not expended for the PROJECT in <br />accordance with the terms of this Contract shail be remitted to the CWCB within 30 days <br />of either (1) completion of the PROJECT or (2) upon the determination by the CWCB that <br />the PROJECT will not be completed, <br /> <br />7, BORROWER'S Authority To Contract. The BORROWER warrants that it has luli power and <br />authority to enter' into this contract. The execution and delivery of this contract and the <br />performance and observation of its terms, conditions and obligaCons have been duly <br />authorized by ail necessary actions of the BORROWER. <br /> <br />8, Attorney's Opinion Letter" Prior to the execution of this contract by the CWCS, the <br />BORROWEf~ shal! submit to the CWCB an opinion from its counsel stating that it is the <br />attorney's opinion that <br /> <br />a, the contract will be duly executed by an officer 01 the Borrower who is duiy elected <br />or appointed and is authorized to execute the cont.ract and to bind the Borrowe'; <br /> <br />b. there are no provisions of any f"ederal law that prevent this contract from binding <br />the Borrower; and <br /> <br />c. t.he contract wili be valid and binding against the BORROWE',R if entered into by the <br />CWCB, <br /> <br />9, Warranties" <br /> <br />a, The BORROWE>, warrants that, by acceptance of the loan money pu'suant to the <br />terms of this contract and b'ft.he BORRGWEfl!8 reprfJsentatiGl1 herein, the-BoRRowER <br />shaH be estopped from asserting for any reason that it is not authorized or obilgated <br />to repay ltle loan money to the CWCS as required by this contract, except as <br />provided for in sections 4,c and 13,a, <br /> <br />Q, The BORROWER wa'rants that it has not emploYExj or retained any company or <br /> <br />Page 3 of 8 <br /> <br />LOB:' Contract <br />