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<br />WICHIT A BANK FOR COOPERATIVES
<br />LOAN AGREEMENT
<br />
<br />IHlt
<br />The Ish Reservoir Company
<br />platteville, Colorado
<br />
<br />T-3345
<br />May 11,
<br />
<br />No.
<br />Date.
<br />
<br />1978
<br />
<br />I
<br />
<br />The findings required by low ha....ing been duly mode, the Wichita Bonk for Cooperatives agrees to make loons to the above-named cooperative
<br />association, upon the following terms and conditions:
<br />
<br />AMOUNT:
<br />
<br />I
<br /> INTEREST:
<br />I
<br />I NOTES AND
<br />SECURITY:
<br />
<br />I
<br />
<br />Nol 10 exceed $ 50,000
<br />
<br />term loan
<br />
<br />$
<br />
<br />seasonal capitol loon
<br />
<br />Each advance made hereunder shall bear interest at the rote prescribed by the bonk in accordance with low, payable quarterly on the
<br />10501 day of Morch, June, September, and December; provided, however, that if the interest rote charged by the bonk on loons similarly
<br />classified is chon'3ed to a higher or lower rote thon the rote effective on the dole hereof, the association ogrees to pay such higher rote,
<br />and the bonk agrees to accept such lower rate on the unpaid balance hereunder, fram the effective dote of such change of interest rote.
<br />
<br />Advances made hereunder sholl be evidenced by 0 promissory note, or notes, acceplable to the Bonk, and shall be secured
<br />as a future advance under the Bank's existing mortgages and security agreements
<br />covering the properties of the Association.
<br />
<br />PURPOSE: Loans made hereunder shall be used to finance cost over run on reservoir
<br />construction.
<br />
<br />July 15, 1978 $3,152
<br />July 15, 1979 3,447
<br />July 15, 1980 3,769
<br />July 15, 1981 4.121
<br />July 15, 1982 4,507
<br />July 15, 1983 4,928
<br />July 15, 1984 5,389
<br />July 15, 1985 5,893V'
<br />
<br />IrSPECIAL CONDITIONS: While this loan agreement or any extension hereof is in effect, the
<br />Association shall levy and collect annually from its members sufficient assessments
<br />to pay principal and interest installments on indebtedness hereunder and to defray
<br />maintenance and operating expenses and to provide a reasonable reserve for
<br />contingencies.
<br />
<br />I REPAYMENT:
<br />
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<br />I
<br />
<br />I
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<br />Effective as of the date of the acceptance of this loan agreement and upon receipt
<br />by the Bank of the notes required in connection therewith, the Bank's outstanding
<br />loan numbered T-1598, in the amount of $46.775, shall be combined with loans made
<br />hereunder; whereupon said consolidated indebtedness shall be subject to all the
<br />terms and conditions of this agreement,
<br />
<br />Loans combined hereunder shall be due and payable as follows:
<br />
<br />July
<br />July
<br />July
<br />July
<br />July
<br />July
<br />July
<br />
<br />1986
<br />1987
<br />1988
<br />1989
<br />1990
<br />1991
<br />1992
<br />
<br />$ 6,444
<br />7,046
<br />7,705
<br />8,425
<br />9,213
<br />10,074
<br />12,662
<br />
<br />15,
<br />15,
<br />15.
<br />15,
<br />15,
<br />15,
<br />15,
<br />
<br />,
<br />
<br />A-23
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