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C153739 Contract
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C153739 Contract
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Last modified
3/7/2013 11:04:40 AM
Creation date
10/5/2006 11:42:56 PM
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Loan Projects
Contract/PO #
C153739
Contractor Name
Aristrocrat Ranchettes Water Project, Inc.
Contract Type
Loan
Water District
2
County
Weld
Bill Number
SB 96-153
Loan Projects - Doc Type
Contract Documents
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<br />14. Request for loan funds. The BORROWER shall submit to the STATE a request for loan funds along <br />with adequate documentation of the PROJECT costs. After review and acceptance by the STATE of <br />the request, the STATE will pay the amount set forth in the request or such portion that has been <br />approved by the STATE. Such payment shalll)e made within thirty (30) days from the STATE'S <br />approval of each request. <br /> <br />15. Periodic inspections. Throughout the term of this contract, the BORROWER shall permit a <br />designated representative of the STATE to make periodic inspections of operating records, <br />maintenance records, and financial records. Such inspections are solely for the purpose of <br />verifying compliance with the terms and conditions of this contract. <br /> <br />16. Adhere to applicable laws. The BORROWER sl1all strictly adhere to all applicable federal, state, <br />and local laws and regulations that are in effect or may hereafter be established throughout the <br />term of this contract. <br /> <br />17. No discrimination of services. The services of said PROJECT shall be made available within its <br />capacity and in accordance with all pertinent statutes, rules and regulations, and operational <br />guidelines to all persons in the BORROWER'S serVice area without discrimination as to race, color, <br />religion, or national origin at reasonable charges (including assessments or fees), whether for one <br />or more classes of service, in accordance with a !,chedule of such charges formally adopted by the <br />BORROWER, as may be modified from time to time. <br /> <br />B. The STATE agrees as follows: <br /> <br />1. Agreement to loan money. The STATE agrees to loan to the BORROWER an amount not to exceed <br />that specified in the PromissorY Note Provisions of this contract. <br /> <br />2. Release after loan is repaid. Upon complete repayment to the STATE of the entire principal and <br />any accrued interest as specified in the promissory note provisions of this contract, the STATE <br />agrees to execute a release of deed of trust to convey to the BORROWER all of the STATE'S right, <br />title, and interest in and to the properly described in the deed of trust, and to file UCC-3 forms with <br />the Secretary of State to terminate all of the STAT~'S rights in and to the revenues pledged to repay <br />this loan and in the properly described in the Collateral Provision of this contract. <br /> <br />C. The STATE and the BORROWER mutually agree as follows: <br /> <br />1. Designated agent of the STATE. The CWCB, which includes its agents and employees, is hereby <br />designated as the agent of the STATE for the purpose of this contract. <br /> <br />2. Contract is not assignable. This contract is not assignable by the BORROWER except with the <br />prior written approval of the STATE. <br /> <br />3. Contract relationship. The parties to this contract intend that the relationship between them <br />contemplated by this contract is that of lender-borrower, not employer-employee. No agent, <br />employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or <br />servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the <br />acts of its agents, employees, servants, engineering firms, construction firms, and subcontractors <br />during the performance of this contract. <br /> <br />Aristocrat Ranchette Water Project, Inc. <br /> <br />Page 7 of 11 <br /> <br />loan Contract <br />
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