PROJC01404 - Laserfiche WebLink

Home Browse Search

PROJECT SUMMARY -SILVER SPRINGS TROUT FARM- CONTRACT No. C150091 SECTION 1 -BORROWER INFORMATION Name: Silver Springs Trout Farm, Inc. & Daniel A. and Jacqueline P. Sherwood Trust, UtA DTD 12/6/95 Address: 13221 Marine Road Montrose, CO 81401 Phone Number: 970-249-5888 E-mail address:silversprings@dmea.net Contact: Daniel Sherwood, President Type of Entity: a Colorado Corporation and a Colorado trust Section 2 - Project Description A. Description of Project: Rehabilitation of the Silver Springs Trout Farm hatchery located in Mesa County, and to refinance existing debt associated with rehabilitation work already completed, The purpose for the rehabilitation. is to eliminate whirling disease from the facility, 8, Description of Feasibility Study: The CWCS reviewed a feasibility report on the Project completed by John Van Sciver, which is incorporated herein by reference, and based upon this feasibility report, the CWCS determined the report meets the requirements of the CWCS Construction Fund Guidelines for feasibility studies, SECTION 3 - BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION A, At its November 19-20, 2001 meeting, the CWCB approved a loan to the BORROWER in an amount up to $365,000, not to exceed 90% of the cost of the PROJECT, at an interest rate of 2,5% per annum for a repayment term of 15 years to rehabilitate the PROJECT, and to refinance debt associated with rehabilitation work already completed. B, Pursuant to House Bill 02-1152, Section 1, the Colorado General Assembly authorized CWCB to loan to the BORROWER an amount up to $365,000 for refinancing the PROJECT wholly or partially completed, SECTION 4 . COLLATERAL / The security provided for this loan, as evidenced by the executed Deed of Trust attached as Appendix 4a and incorporated herein, shall be an undivided one hundred percent (100%) interest in (1) a parcel of land located in Section 19 and Section 30, Township 49 North, Range 9 West, NMPM, (2) perpetual easement and right of way for the West Spring Ditch, the Waste Water Ditch and the Tile Collection Line, and (3) water rights tributary to Mexican Gulch, a tributary of the Uncompahgre River (also secured by Security Agreement attached as Appendix 4b and incorporated herein), hereafter referred to as the Collateral, and more completely described in said deed of trust. Appendix 1 to Loan Contract C150091