My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
PROJC00106
CWCB
>
Loan Projects
>
Backfile
>
2001-3000
>
PROJC00106
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/7/2013 12:16:33 PM
Creation date
10/6/2006 12:02:51 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C153829
Contractor Name
Eagle Park Reservoir Company
Contract Type
Loan
Water District
37
County
Eagle
Bill Number
SB 96-153
Loan Projects - Doc Type
Contract Documents
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
329
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />:'01 <br />, , <br /> <br />shall perfect its security interest in the Borrower's right to receive the pledged <br />assessment revenues by filing a UCC-1 Form with the Colorado Secretary of State. <br /> <br />D. Events of Default. The following shall constitute an event of default ("Event of Default") <br />hereunder: <br /> <br />1. Failure of any Owner to pay its portion of an installment of principal, accrued interest, and <br />late charges, if any, on the Promissory Note within five (5) business days after its due date. <br /> <br />2. Failure of the Borrower to place the assessment revenues collected from the Owners for <br />loan repayment into the separate account established for those revenues in accordance <br />with terms of Paragraph C.3 Pledge of Property. <br /> <br />3. Failure of the Borrower to make annual payments in accordance with the terms of the <br />Promissory Note. <br /> <br />4. Failure of the Borrower to maintain insurance in accordance with Paragraph G of the Loan <br />Contract. <br /> <br />E. ChanQes. The parties may decrease the amount of the Loan under this Contract or extend <br />the time for completion of the Project through a Revision Letter, approved by the State <br />Controller or his designee and the Borrower, in the form attached hereto as Appendix H. <br />The Revision Letter shall not be valid until approved by the State Controller or such <br />assistant as he may designate, Upon proper execution and approval, the Revision Letter <br />shall become an amendment to this Contract and, except for the Special Provisions of the <br />Contract, the Revision Letter shall supersede the Contract in the event of a conflict between <br />the two. The parties understand and agree that the Revision Letter may be used only for <br />decreasing the final Loan amount or to extend the time for completion of the Project. In the <br />event that the parties execute the Revision Letter to decrease the amount of the Loan, the <br />parties shall amend the Promissory Note and all documents executed by the Borrower and <br />Owners, where applicable, to convey security interests to the State as required by this <br />Contract to reflect the decreased Loan amount. <br /> <br />F. Borrower's Indemnification Of The State. The Borrower shall, without expense or legal <br />liability to the State, manage, operate, and maintain the Project continuously in an efficient <br />and economical manner, The Borrower agrees to indemnify and hold the State harmless, to <br />the extent authorized by law, from any liability incurred by the State as a result of the State's <br />interest in the Shares, <br /> <br />G. Borrower's Liability Insurance. Upon execution of this Contract and continuing until <br />complete repayment of the Loan is made to the State, the Borrower shall maintain <br />commercial general liability insurance with a company that is satisfactory to the State <br />covering the management, operation, and maintenance of the Project with minimum limits <br />of $1 ,000,000 combined single limit for each occurrence and $2,000,000 general aggregate, <br />including products/completed operations and personal injury, Said general liability insurance <br />shall name the State as additional insured. The Borrower shall provide the State with a <br />certificate of said insurance and an additional insured endorsement, and shall provide the <br />State with documentation of renewals of said insurance. The State will not disburse any <br />Loan funds without evidence of said insurance coverage. Throughout the life of this <br />Contract, the State reserves the right to increase the above amount of insurance so that <br /> <br />Eagle Park Reservoir Company <br /> <br />Page 5 of 13 <br /> <br />Loan Contract <br />
The URL can be used to link to this page
Your browser does not support the video tag.