Laserfiche WebLink
<br />. . <br /> <br />,-- <br />. '.\ <br />c, <br /> <br />Hundred Twenty-Four Dollars ($60,624) each, which first.installment shall be due and <br />payable on July 15, 1983, and yearly thereafter until the entire principal sum shall have <br />been paid. Said installment payments shall be made payable to the Colorado Water <br />Conservation Board, payable at the offices of said Board in Denver, Colorado. The <br />ASSIGNEE may, at any time, request the STATE'S consent to prepayment of the loan. <br /> <br />The ASSIGNEE agrees that the specific revenues to be pledged to repay the STATE shall <br />be derived from revenues from the ASSIGNEE'S water system enterprise fund, as <br />authorized by ordinance of the ASSIGNEE. Furthermore, ASSIGNEE agrees that <br /> <br />a. The ASSIGNEE hereby pledges such revenues to repay the STATE loan, agrees that <br />these revenues will be set aside and kept in an account separate from other ASSIGNEE <br />revenues, warrants that these revenues will not be used for any other purpose, and <br />agrees to provide the STATE a perfected security interest such that the STATE has priority <br />over all other competing claims for such revenues. <br /> <br />b. The ASSIGNEE agrees that, in order to provide a security interest irrevocably pledging <br />such revenues to the STATE, it will provide a completed and properly executed Uniform <br />Commercial Code Security Agreement and Financing Statement, attached hereto as <br />ATTACHMENT 4 and incorporated herein. The ASSIGNEE shall, within thirty (30) days <br />prior to the end of the fourth year that this contract is in effect and every five (5) years <br />thereafter, deliver to the STATE a completed and properly executed Continuation <br />Statement (Form UCC-3) of the security interest (UCC Security Agreement and <br />Financing Statement) required by this contract amendment. <br /> <br />c. The ASSIGNEE shall, pursuant to its home rule charter and as authorized by its <br />ordinance, take all necessary actions consistent therewith to fix water fees and charges <br />sufficient to pay this contract loan in a timely manner and as required by the terms and <br />conditions herein. In the event the fees and charges fixed by the ASSIGNEE become <br />insufficient to assure repayment to the STATE as required by the terms ariCl conditions <br />herein, then the ASSIGNEE shall immediately take all necessary action consistent with its <br />home rule charter, including but not be limited to fixing additional fees and charges to <br />raise sufficient revenue to assure repayment of the loan to the STATE. <br /> <br />D. Paragraph I is amended to read as follows: <br /> <br />Upon completion of repayment to the STATE of the sum of Two Million Four Hundred <br />Twenty-Four Thousand Nine Hundred Sixty Dollars ($2,424,960) as set forth in <br />paragraph A.12 of this contract, the STATE agrees to execute a release of deed of trust <br />to convey to the ASSIGNEE all of the STATE'S right, title and interest in and to the <br />PROJECT and any other property described in paragraph A.5 of this contract, and to <br />execute a UCC-3 form to terminate all of the STATE'S right, title and interest in and to <br />the revenues pledged to repay this loan. <br /> <br />9. The effective date of this Amendment is the date first written above. <br /> <br />10. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency, variance, or <br />contradiction between the provisions of this Amendment and any of the provisions of the ORIGINAL <br />CONTRACT, the provisions of this Amendment shall in all respects supersede, govern, and control. <br />The SPECIAL PROVISIONS shall always be controlling over other provisions in the contract or <br /> <br />Page 4 of 5 <br />