C153314 Contract - Laserfiche WebLink

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. STAENT OF AGREEMENT BET. TOWN OF PARACHUTE AND COLORADO WATER CONSERVATION BOARD '" j It is hereby agreed that the purpose of this statement of agreement is for the Town of Parachute (Town) to establish their intent to become current with their loan payments by July 1996, and for the Colorado Water Conservation Board (CWCB) to be given clear expectations on what can be expected from the Town on eliminating their delinquency, \ The Town entered into loan contract with the CWCB in the amount of $250,0000n September 1, 1979, The loan contract #C153314, as amended, established the purchase amount to be paid by the Town as $437,329,40and the annual payment amount as $11,118,80, ,; The Town's last annual payment in the amount of $11,118.80was due on July 1, 1995, As of December 1,1995, the Town had submitted a partial pilyment of $1,400 leavin!" a lidlance due of the $9,718,80, The Town's next annual payment in the amount of $11,118,80 is due July 1, 1996. In order to be current with their payments by July 1, 1996, the Town will need to pay the balance owing for the 1995 payment and then the amount that will be owed for the 1996 payment which is a total of $20,837,60, The parties agree to the following: The Town will pay the amount of $20,837,60 in eight monthly payments of $2,604.70 to CWCB, and CWCB agrees to accept these eight partial payments, The payments will begin with a December 1995 payment and conclude with the payment made in July 1996, These monthly payments will be applied first to the balance owing on the 1995 payment, and t: len to the 1996 payment, The Town will make these eight monthly payments on or before the 10th day of each month, This Statement of Agreement is dated this Zti!'aay of December, 1995, TOWN OF PARACHUTE By ~~~~ f. t/ Print Name John B. :~C32" Daries C, Lile, Director By