PROJ00268

• Contract/PO #: C153671
• Contractor Name: Beaver Park Water, Inc.
• Contract Type: Loan
• Water District: 12
• County: Fremont
• Bill Number: FSA
• Loan Projects - Doc Type: Contract Documents

04/04/94 15: 32

'5'3('y66 44;4

CWCB

141002

UlAII _TIlACT
Beaver Parle: Uater, Inc..
feasibH ity Stufy

the feasibility study by the State. Subsequent payments shall be due and payable on the
same month and day of each year thereafter until all principal and accrued interest
have been paid.

6d. If the Borrower does proceed with the construction of the subject project
then the Seventy-Five Thousand Dollars ($75,000) and any accrued interest at a rate of
three and one half percent (35%) for the feasibility study may be rolled into the ,~
COn:,UUi;"0n l(lan for thi~ project. -"'-fliea RlI5 alreeEl.y beeR appIOvee by the State. , ~

6e.Ibe principal amount of the obligation, of Borrower to the State sball not in il!l-
any event exceed the amount which has actually been paid out by the State to the
Borrower under this Contract. Nothing in this Contract is intended Lo state or imply
, that the Borrower shall have any obligation to the Consultant in excess of money
actually paid out by the State to the Borrower under this Contract

7, (DEED OF TRUST PROVISIONS):

7a As security for the loan to be made to it by the State, the Borrower has
executed a deed of trust as shown in Appendix D, The security provided therein ,shall
be an undivided one hundred percent (100%) interest in the following:

460.909 acres and all improvements owned by the Borrower thereon, located
in sections 24 and 25 of T 18 S, R 69 W and in sections 19 and 30 of T 18 S,
R 68 W, of the 6th principal meridian, as described the attached Deed of
TrusL (Appendix D.) This inclLldes the Brush Hollow Dam and Reservoir,
and lands upon which it is located.

7b. Upon default in the payments berein set fonh to be made by the Borrower,
or default in the peIformance of any covenant or agreement contained herein, the
State, at its option, may: (a) declare the entire principal amount then outstanding
immediately due and payable; (b) for the account of the Borrower, incur and pay
reasonable expenses for repair, maintenance, and operation of the project herein
described and such expenses as may be necessary to cure the cause of default; (c) take
possession of the project, repair, maintain., and operate or lease it; (d) act upon the
security (described in Appendix D); (e) take action to enforce paragraphs 6. and 8. ;
and/or (f) take any other appropriate legal action. AIl remedies described herein may
be simultaneously or selectively and successively enforced. The provisions of this
contract may be enforced by the State at it~ option without regard to prior waivers by it
of previous defaults by the Borrower, through judicial proceedings to requiTe specific
peIformance of this contract, or by such other proceedings in law Or equity a~ may be

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