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<br />"....;') <br /> <br />-'- > <br />. , <br />.' . <br /> <br />LOAN CONTRACT <br />SUlIIIit Reservoir and Irrigation Co. <br />EErgency Loan <br /> <br />-..-----------.-------------------- . <br /> <br />c. For any damage to property, the sum of Four Hundred Thousand <br />Dollars ($400,000) for each occurrence. <br /> <br />Said general liability insurance shall name the State as a co-insured. A <br />copy of a certificate of said liability insurance must be filed with the State. <br />Such certificate shall be incorporated herein as part of this contract. <br /> <br />4. (Make the services of said project available without discrimination): Make the <br />services of said project available within its capacity to all qualified persons in the <br />Borrower's service area without discrimination as to race, color, religion, or natural <br />origin at reasonable charges (including assessments, taxes, or fees), whether for one or <br />more classes of service, in accordance with a schedule of such charges formally adopted <br />by the Borrower through its By-laws, as may be modified from time to time. The initial <br />rate schedule must be approved in writing by the State before any such charges are <br />initially assessed. Thereafter, the Borrower may, subject to the approval of the State, <br />make such modifications to the rate schedule as the Borrower deems necessary to <br />efficiently and economically' provide for the financial requirements of the system, <br />including repayment of the State, as long as the rate schedule remains reasonable and <br />non-discriminatory. <br /> <br />5. (Adopt a resolution authorizing Borrower to contract for this loan and to <br />provide security for its repayment): Pursuant to its Articles of Incorporation and to its <br />By-laws, have its Board of Directors adopt an order or a resolution: <br /> <br />a. Authorizing the Borrower to contract for this loan debt, and authorizing <br />the President and the Secretary to pay the indebtedness on behalf of the <br />Borrower, and <br /> <br />b. Authorizing the Borrower to execute the deed of trust as security <br />required by the State, as specified in the Deed of Trust provisions of this <br />contract, and <br /> <br />c. Authorizing the Borrower to make and levy assessment(s) sufficient to <br />payoff this contract loan pursuant to its terms and to discharge this lawful <br />indebtedness, and <br /> <br />d. Authorizing the Borrower to set aside this assessment revenue in a <br />special fund separate and apart from other Borrower revenues to assure <br />repayment of this revenue to the State, and <br /> <br />e. Authorizing the Borrower to sign a security interest in such assessment <br />revenues in favor of the State to secure the repayment. <br /> <br />Page 1. of 12 Pages <br />