Laserfiche WebLink
<br />) <br /> <br />., <br /> <br />NORBERT JACKSON <br />REGARDING CWCB LOAN <br />APRIL 20, 1989 <br />PAGE 3 <br /> <br />identified as requ~r~ng the Company to issue a warranty deed <br />before any funds are first advanced, conveying to the State <br />an undivided 50% interest in the Onion Valley Dam (Gould <br />Reservoir), including the walkway, inlet and outlet works, <br />with all appurtances, turnout structures and underlying <br />land. <br /> <br />You are required to maintain general fire and hazard <br />insurance on the project in an amount not less than the <br />outstanding remaining balance of the loan until it is fully <br />paid, naming the State as the sole insured on the policy. <br />Roger Skiles has indicated to me that he has sent additional <br />information on to the insurance agent for a new and <br />hopefully lesser quote on the cost of this insurance. <br /> <br />The Company is required to comply with the procedures <br />set forth in Exhibit D to the Contract. These procedures <br />are somewhat helpful in itemizing the schedule of action <br />that will take place with regards to this loan. <br /> <br />The Company is required to comply with the statutes, <br />rules, regulations, procedures and requirements of the State <br />and of the Colorado Water Conservation Board. <br /> <br />Also stated on page 5 are restrictions against your <br />ability to transfer any interest in the project or in the <br />property until the loan is fully paid and further provides <br />the default remedies which the State has against you in the <br />event of failure of payment. <br /> <br />On page 6, the State agrees to loan you $166,600.00 on <br />certain conditions. Included in those conditions are that <br />you, the contractor, shall prepare within ten (10) days <br />after the date of the contract and every month thereafter <br />until the project is completed, an estimate of funds <br />required for that month and you shall forward that estimate <br />to the State not less than 15 days prior to the beginning of <br />the month. The State will then pay, within 40 days, an <br />amount, which they shall determine from the estimate, is <br />elligible and approved by them for payment. <br /> <br />On page 7, it is provided that the State may provide <br />you, the contractor, with such technical assistance as the <br />State deems appropriate. <br /> <br />It further states that this is the complete Contract <br />and that no prior agreements shall apply unless they are <br />