C153521 Contract - Laserfiche WebLink

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. . J. William McDonald, Director July 18, 1988 Page Two charge is $55.00 per year for anything up to one acre. The charges vary for parcels up to 6.0 acres in size and above that, the rates which I have quoted apply. Let me know if you need this rate infor- mation in more complete detail or in a different form. With respect to Paragraph 8 on Page 5, I really did not know what to do. Since the United States owns the water right and all of the distribution system, we really do not have very much to pledge as security. I did not think you would want to have vehicles and equipment involved so that leaves us with the annual assessment which should be the most valuable. However, by completing Paragraph 8 in the fashion that I have I really do not think that you have gained very much. In other words, in Paragraph 9 we agree that we are going to do everything necessary to levy and collect the assessments and make the payments. If you think Paragraph 8 in its present form adds anything desirable from the State's point of view then I am happy to leave it as submitted but it was my hope that perhaps the statutory requirement would be met by execution of the Agreement and omitting Paragraph 8, which of course would require some minor changes in one or two other paragraphs such as 7 and llB. I rewrote the repayment provision on Page 6. I really could not understand the way you were proposing to set up the Contract. The way I have now set it forth is the way you would repay a loan which you might get from a bank and I hope it is satisfactory. I have changed our early summer payment date from June 1 to June 30 because that then makes it easier to set up an amortization schedule which we assume will be attached as Exhibit B. Also on Page 6, the paragraph at the bottom concerning insurance puzzled me because we do not have assets of significant value to pledge as security. Let me know if this is a problem. On Page 7 the Paragraph B is modified. The United States owns the project so we cannot contract with you that you can take possession of it. At the top of Page 8, I changed the date when the money would be available. We have to have it here so that we can make a wire transfer on the 17th and I really think that I would advise my client to do the wire transfer beginning in the morning on the 16th. If we are going to take advantage of this we do not want to mess up and not get the money there on time, so I would hope that you would advance the money in plenty of time so that it could be unrestricted funds in our account which could then be wired on August 16.