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PROJ00497
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Last modified
11/19/2009 11:25:15 AM
Creation date
10/5/2006 11:58:13 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153620
Contractor Name
Clinton Ditch and Reservoir Company
Contract Type
Loan
Water District
36
County
Summit
Bill Number
SB 90-87
Loan Projects - Doc Type
Contract Documents
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<br />, ' <br /> <br />of Lender as to the security for a portion of the Loan shall <br />not affect the rights of Lender to enforce payment of the <br />remaining portions of the Loan in accordance with the terms of <br />this Agreement; provided, however, that Lender may not seek <br />payment of any deficiency remaining after realization on the <br />security for any Owner's allocated portion of the Loan from <br />Borrower or any officer, director or shareholder thereof, or <br />from the security for any other Owner's allocated portion of <br />the Loan. <br /> <br />7. Conditions of Lendina. The obligation of <br />Lender to make the Loan on the Loan Date is subject to the <br />following conditions: <br /> <br />(a) Lender shall have received the Notes and <br />the Security Documents, duly executed and delivered by <br />Borrower and, as applicable, the Owners of the Shares. <br /> <br />(b) All warranties and representations in <br />paragraph 3 above shall be true in all material respects on <br />the Loan Date as if then given, and Borrower shall have <br />performed or observed all terms, conditions and obligations <br />hereunder to be performed or observed on or prior to the Loan <br />Date. <br /> <br />(c) The closing of the purchase of the <br />Reservoir by Borrower shall occur simultaneously with the <br />advance of funds hereunder. <br /> <br />(d) Lender shall have received all other <br />documents and assurances which it may reasonably request in <br />connection with the transactions contemplated by this <br />Agreement. <br /> <br />8. Miscellaneous. <br /> <br />(a) No delay on the part of Lender in <br />exercising any right, power Or privilege hereunder shall <br />operate as a waiver thereof, nor shall any partial exercise or <br />waiver of any privilege or right hereunder preclude any <br />further exercise of such privilege or right hereunder or the <br />exercise of any other right, power or privilege. <br /> <br />(b) Any notices, consents or other <br />communications to be given under this Agreement shall be in <br />writing and shall be deemed given when mailed to the <br />respective parties by registered mail addressed as follows (or <br />to such other addresses as either party may from time to time <br />designate for that purpose): <br /> <br />Page 9 of 13 <br /> <br />,. <br /> <br />., ~ <br />
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