C150036 Contract - Laserfiche WebLink

Home Browse Search

" \ , BORROWER/AsSIGNOR: WELD COUNTY TRI-AREA SANITATION DISTRICT WATER ACTIVITY ENTERPRISE ASSIGNEE: ST. VRAIN SANITATION DISTRICT, ACTING BY AND THROUGH ITS WATER ACTIVITY ENTERPRISE Contract No. C150036 Agency Name: Water Conservation Board Agency Number PDA Routing Number: 08 PDA ()oo5o LOAN CONTRACT AMENDMENT No.2 (STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003) This Amendment, made this December 12, 2007 by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB"), Weld County Tri-Area Sanitation District, acting by and through its Water Activity Enterprise ("BORROWER" or "ASSIGNOR"), and S1. Vrain Sanitation District, acting by and through its Water Activity Enterprise ("ST. VRAIN"). FACTUAL RECITALS A. Authority exists, in the law, and funds have been budgeted, appropriated, and otherwise made available for payment in Contract Encumbrance Number C150036. B. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. C. The CWeB and the BORROWER entered into Contract Encumbrance Number C150036, dated April 1, 2002, and amended on September 9, 2003 ("ORIGINAL CONTRACT"), incorporated herein by reference, wherein the CWCB agreed to loan money in the total amount up to $2,002,400, and the BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT. D. The Project was substantially complete as of August 1, 2003. E. The Borrower and ST. VRAIN have entered into a Dissolution Agreement, dated August 15, 2007, whereby the Borrower will dissolve and ST. VRAIN will assume the duties, functions and liabilities of the Borrower. F. ST. VRAIN has adopted resolutions dated December 12, 2007, attached hereto as Appendix A, authorizing ST. VRAIN to assume this loan obligation and to execute all necessary documents herewith. G. Of the $2,002,400 loan amount ("Loan Amount") due under the ORIGINAL CONTRACT, the BORROWER has made principal payments totaling $95,013.17, leaving a principal balance due at the time of this agreement of $1 ,907,386.83. H. The parties agree to amend the contract to name S1. Vrain as the borrower and to adjust the loan amount to reflect the current principal balance due and stated in the attached Promissory Note. I. The parties further agree that ST. VRAIN is assuming all of the duties and obligations under the ORIGINAL CONTRACT and Loan Contract Amendment No.1. 1