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2015 JUL. 22 AN 11: 52

SCHEDULE C-1 (FEC Form 3X)

32

LOANS AND LINES OF CREDIT FROM LENDING INSTITUTIONS

Paga
Tmnsactlon ID: sc;rt0.25075.SC'I

1Am~nt

LENDING INSTITUT10N (LENDER)

Centennial Bank

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City
Centennial

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A. Has loan been restNctured?

B. If line of credit,

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Zip Code

State

Amount of this

Date Due

80112

Back Ref SCl10.2!i07S

If yes, dat1

QYes

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Qltstanding
BBJance:

10312.90

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. 0111l212018
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Total

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Incurred

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70J12.00

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Interest Rate (APR)

100000..QO

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Dale Incurred' or Eslab!ished

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. . C00033134
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Mamng Address
13700 E Arapahoe Rd.

FEC IDENTIFICATION
NUMBER
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COLORADO REPUBLICAN COMMITIEE c

Fun Name

32

Information found on

Federal Eledicn Commlsskln, Washlngtgn, D.C. 20463

NAME OF COMM\TIEE {In Full)

OF

Supplemi=ilary for

C. Are other par1ies secondarily Hable for the debt Incurred?

jg!_ No
Yes
(Endorsers and guarantors must be reported on SchedUle C.}

fl

D. Are any of 1he following pledged as collateral for the loan: real estate, personal
property, goods, negotiable lnsttuments, cer1illc:ates of deposit, chattel papers,
stocf!s, aoaounts receivable, cash on depos!t, or other similar traditional collateral?

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Oves

igj No

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H yes, specify:

What ii. \he value of 1his collateral?

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Does the lander have a p!!rfacted security

interest in It? ~ No
Yes
What Is the estimated value?

E. Are any fulura contnbutions or rutura recelpls of interest income, pledged as

collateral tor the loan?
No
Yes lf yes, specify:

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A deposttoTy account must be established pursuant

to 11 CFR 100.82(e)(2) and 100.142(e)(2).
Dale acoount established:
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Location cf. acccunt

A.ddres'S:

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City,

State, Zip:

F. tf neither at ffle types of oolfataraJ described above was pledged for tl\is loan, or if the amount pledged doe5 not eQual or exceed
the

roan amount, .statB the basis upon which thls loan was made and the baslS on which it assures repayment

G. COMMITTEE TREASURER
Typed Name Robert BaDnk
Signature

DATE
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JOIS

H. Attaclt a s1g_ned copy of the l::ian~eement

.L_TO_B.E_SJGNEO BY THE l,.ENDING INSTJTUTloN:
I. To the bi!st Ofrhis fnstiMion'slmOwledge;-tti.etermsof-the-loan-and-other-lnformalion.regardlng_tf:l_e_eJ:(lensicm of the loan
ara accurate as stated above.
II. The loan was made on terms and conditions (Including interest rate) no more iavorable at the time than those imposed for
similar extensions of credit to other borrowers ol comparable creart. worthiness.
This institution is aware of Iha requirement tha1 e. loan must be made on a basis which assur@S repaymel'.lt, and has
m. complied
with 1t1a reqiJiremsnls set fofUI at 11 CFR 100.82 and 100.142 In mak!11g this loarJ.
AUTHORIZED REPRESENTATIVE
DATE
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Typed Name
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GOVERNMENTAL CERTIFICATE

References in \ho boxes above are for lender's use only, and do ncn limit t.he applicability of lhls document to any pcuth:ular lean or
Any item above conlaining ...... has been omitted due to text length limitations.

Entity:

COLORADO STATE REPIJ81.ICAN CENTRAL

COMMITIEE
5950 SOUTH WILLOW DRIVE #301
GREENWOOD VILLAGE, CO 80111

Lender:

item.

CENTENNIAL BANK
DOW!ffOWN BRANCH
717 17th STREET
DENVER,CO 60202

(JOo) sao-1soo

I, THE UNDERSIGNED, 00 HEREBY CERTIF'i AND STATE UNDER PEi'IALTY OF PERJURY THAT:
THE ENTITY'S EXISTENCE. lhe complete and correct namo ol U1e govemmontal enuty I> COLORADO STATE REPUBLICAN CENlRAL
COMMITTEE ("Entity"). The Entlly is a governmental entity which Is, and al all Umes shall be, duly organlz.ed, validly exlsUng, and In good
slanchng under and by virtue of the Jaws and regulations of the Slate or Colorado. The Enlity has the full power and DUlhorlty to own lls
proper1iet>. and to transact Iha ousines::; and activities in which it is presently engaged or presently proposes to engage. The En~ty maintains an

office at 5950 SOUTH WILLOW DRIVE #301, GREENWOOD VILLAGE. CO aoii1. The Entity shaH do all things necessuiy to prese1Ve and to
keep In full fore!! end effecl Its exlstenc9, r1ghts and privileges, and shall compty witll an regulations. rules, ordinances, statutes, orders snd
deer~~ of ths Entity and any other guvemmental or quasi-governmental authorfly or court applicable to the Entily and the Entily"s business
activities.
CERTIFICATES ADOPTED. At a mealing of the.app1op~ate governing body of the Entity, duly called and held on January 8. 2015, at whkoh a
quo11Jm was present and "Voling, or by other duly aulhorized ac1io11 In lieu of a meeting, the resolutions 3at forth Bl this Cttrlificate were adopted.

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OFFICIAL The following named person is an Official of COLORADO STATE REPUBLICAN CENTRAL COMMITTEE:

: : : : : CAU

=CHAIRMAN

A!JTH:RIZfI2 X

~i~~:~f~~:'~l~t~~1~
agreemen~of

ACTIONS AUTHORIZED. Tf\O eu1norizad porson ll3ted above may enler Into any
any nature with Lender, and those agreenients
will bind the Entity. Speclficafty, but without limitation. the au!hnrized person is authorized. empowered, and directed to do the following for

and oo behall of the Entity:

8ortow Money. To borrow, as a cos\gner or othel'\vtse. from time to llme from Lender, on such terms as may be agreed upon between the
Entily and Lender, such sum or sums of money as In his or her Judgment should.be borrowed, wilhout llmltatJon.
E.J<ecuto Neto. To ~xecule and deliver to Lender the promissory nole or notes, or 011\er evidence of the Entity's credit accommodations, en
Lender's fonns, at such rates of interest anQ on such terms as may be agreed upon, evidBllcing the sums or money so borrowed or any of
the Entity's indet>tedness to Lender, and also to execute and delrver to lender one or more renewals, extensions. modificalj!Jns,
refinancing&. consoUrlatiOr.s, or substil\l\ion~ for one or more of 'he notes, any portion oi the noies, or any other evtdenco of credit
accommodations.
Grant Security. To mortgage, pledge, transfer, endorse, tlypothecatc, or otherwi&e encumber and deliver to Lander anv property no~ or
hereatter bolonging to the Entity or In which lhe EnUry now or heroartar may have an lnleres~ Including without !imitation all of the EnHly's
real property and all of lhe Entity's personal properry (tangible or Intangible), as security for the payment of any loans or credit
accommodations so obtained. any pramissol)' notes so executed (lnctudlng any amendments

to

Of mo"1ifications, 1enewals, and extensions

or such prcmissory notes), or any other or ~Jrther indebtedness of the Entity to Lender et any Ume owing, however the same may be
cvid~ncod. Such properly may be mortgaged. pledged, tran!iforred, endorsed, hypoiflecated or encumbered at Ula time such lcJens are
obtained or Guch indebredness Is incurred. or al any other time or times, and may be ellner In eddi.tlo:i to or in lieu o1 any property
theretofore mortgaged, pledged, lransferred. endorsed, hypofhecated or encumbered.

Exe'"ule Security Documents. To axccuta and deliver to Lender lhe forms of mortgage, deed of 1.rust, pledge agreement, hypothecation
agreement, and other sacurily agreements and nnancing slatements which Lender may require and whJch shall evidence the terms and
conditions under and pursuant to which such l\:cns and encumbran'C'ElS, or on~ of 1ham, are given: and also lo e~eculB and deliver to lender
any other written lnslruments, any chattel paper, or any other collateral, of any kind or na1ure, which lender may deem necessary or proper
in connection with or pertaining to the gfving Of the liens and encumbrances.
Negotiate Items. To draw, endorse, and discount with Lender all drafts, treda acceptances, promissory. notes, or other evidences of
Indebtedness payable lo or belonging to the Efl~ty or in which the Entity may have an interes~ and either to receive cash tor the same or to
cause such proceeds to be credited to the Entity's account with Lender, or lo cause such other disposition of the proceeds derived
therefrom as he 01 she may deem advisable.

Further Acts. In th~ caso Of lines of credit, to deslgnale additional or alternate Individuals eo being authorized to request advances under
such tines, and In all cases, to do end perform such other acts and things, to pay any and aH fees and costs, and to execute and deliver
suc:h olher documen1s and agreements, Including agreemanl.5 waiving lhe right lo a trial by jury, as 1ha Official may In his or her dlscratlon
deem reasonably necessary or proper In order to carry Imo effect the provisions or this Certificate.
ASSUMED BUSINESS NAMES. The Entity has filed or recorded all documents or flllngs required by few relating to ell assumed business names

used by the Entity. Excluding the name of th& Enli~. the following Is a complete fist or en assumed business names under which the Entity does

business: None.
NOTICES TO LENDER. The Enlity will prompUy notify Lender in writing at Lenda(s address shmvn above (or such other addresses as Lendor
may designote from time to timo) prior lo eny (A) change in lhe Entity's name; (Bl change In the Entity's assumad busineos ruime(s); (C)
change In lhe stnJClure of the Entity; (0) Change in the authorized signer(&); (E) change In Iha Entity's principeJ office address; (F) change in
the Entity's prlnclpal residence; or (G) change in any olher aspec:l of U1e Enllty that directly or indirectJy reJales to any egreamenls between the
Entily and Lender.
CERTIFICATION CONCERNING OFFICIALS ANO CERTIFICATES. The Official named abOVB is duly elected, appt1inled, Of employed by or lar lhe
E.nUty, as the case may be, and occupies the pcisilion set opposite his or her respective name. This Cer1ificale now stands o1 record on the
books of the Entity. is In tun force and effccl, and has not been modified or revoked in any manner whatsoever.

CONTINUING VALIDITY. Any and all acts authorized pursuant to this Certificate and performed prtor to the passage of this Certlflcat~ are
hereby nilifiad and approved. This Certlftcate shall be conUnulng, shall remain in lull force and effect and Lender may rely on It unlll wrjtten
notice of its revoc-.illon shall have been delivered to and received by Lender at Lender's adtlress shown above (or such addresses as Lander may
designate trom time to time). Any such notice sMP not affect any of the Entity's agreements or commitments in effect at Iha time notice is

given.
JN TESTIMONY WHEREQF, I hove hereunto set my .hond and ollest that the slgnab.ue set apposite. the nama listed abave ls his or her geriu1ne
signature-.
I hove read aU the provis1ons of this Certlflcate. and .I personalty and on behalf of lh9 Entity certify that ell sto.tements and rapresentattons made
In thls can.ltl<;oto are tru~ and corred. Thl5 Governmental Certificate Is dated January 8, 2015.

GOVERNMENTAL CERTIFICATE
(Continued)

Loan No: 16436001

Page 2

STATE OF COLORADO

) SS

couNTY oF

D.vwir

Subscribed and sworn to befo1e

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or

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'JI[ on this
doy of
c;.fu-h.;.. _<~~()... Q:.,k\(

20J2_, by

di ...ifh_,,_

as

Witness my hand and oftlclal seal.

My c:ommission expires:

BETHANY S Lillis
f'J'JTARY PUBLIC

()

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NotoryPubllc

:~.TAT[ OF COLORADO

'
t-!OTARY ID 20124048966
NO'rE:.1f1i@@~M '

~Mlno,lfJt\~~) document
......,

,
, _i:::. >'lu1.>u:; 1 u7, 2016

oneoflh& (1fflciats 11ulhotlud In aci antti. Enlllv'6bet\SU. Jtis ao.t.~abla io hBYe :hibCerl.lfk;ats~edby

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Loan No: 16436001

PROMISSORY NOTE
(Continued)

Page 2

State of Colorado.
RIGHT OF SETOFF. To the extent permittea by, applicable law, Lender reserves a right of setolfin all Borrower's accounts with Lender (wh~lhar
checking, savings, or some other account}. ThJs includes all accounts Borrower holds jointty with someone else Dnd oil accounts Borroi.ver '.may
open in the fulur~. Hnwliver, !his does not lncludts any IRA a\ Koogh acoounls, er any trust accounts for which setotf wou\d be prohibtteO by.

law. Borrower aulhorizas Lender. to lhe extent permlllad by applicable law, to charge or setolf all sums owing on the debt against any an\! all
such accounts, and, at Lender's option, to administn:ilfv~fy freeze ell such HCcounls to allm'Y Lender to prolet..i Lend~r's ::hctrge and selC'Jff rl9hts
prnvk:fed In this paragraph.

UNE OF CREDIT. This Nate evidences a revolvlng Une of credit. Advances under this Note, as well as directions for payment from Borro11kir's
accounts, may be requested orally or In writing 'by Borrower or by an authorized person. Lender may, but need not. require tnat ell oral reqt.iests
be confirmed in writing. Borrower agrees to be liable tor all 6ums ellher: (A) advanced In accon:fsnce with the lnstrucllcns of an autho1tzed
pars.on or (B) cradiled lo any of Borrowor's:accounls with Leru.!1'r. Til'd unpatd pltnc.ipal balance owing on this Note at any \ime roaY be
evidenced by endorsementc on this Note or by LoN:ler'c internal record:::, including daily eomputor print-out.a.
:
CLERICAL ERROR STATEMENT/AUTHORIZATION. An exhlbtt, titled "Ci.ERICAL ERROR STATEMENT/AUTHORIZ!\TION; Is attached to mis
Note and by this reference is made a part of this Note just as if all the provisions, terms er}d condlllons of the ExhlbH had been fully sot forth In
this Note.
SUCCESSOR llHERESTS. The lerrns of this Nole shali be binding upon Borrower, and upon Borrower's heirs, personal represenlal(ves,
succesoors and assigns. and shall Inure lo the bonam of Landor and ii& successor.; and assigns.

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GENERAL PROVISIONS. It any part of this Nole cannot be enforced, this fact will not affect the rest of the Noto. Lender may deloy or flJT90
enforcing any of its righls or remedies uncJer this Note without tosin!J them. Borrower and any other person who signs, ouaranrer.s or endorses
lhis Nole, lo U'la tu:.lenl ullovved by law, waive Presentment, domund for payment, and notice of dishonor. U?Ofl any chango In U1e terms of this
Nole, and unless othen."Vise expressly stated in writing, no party who signs this Note. whether as maker, guaranlor, accommodalion mLik~ or
endorser, shaU be released from llablll1y. All sUch parties agree that Lender may renew or extend (repeatedly and for any length of time) this
Eoan or release any party or guarantor or collalt?ral; or impair, fail to realize upon or perfect Lander's security inlerest in tho collateral; and ,take
any other action deemed necessary by Lender without the consent or or nolice to anyone. All such pa'1ies else agree that Lender may mQdify
!his loan without the confienl of or notlce to an'yone other than the party with whom Iha modification ts mada. The obllgations under this !;-Iola
are joint and several.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE
INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE.
BORROWER Al: KNOWLEDGES RECEl~T OF A COMPLETED COPY OF THIS PROMISSORY NOTE.
BORROWER:

By:b,..

R
R CALL,
or CDLC)RADO
STATE REPUBLICAN CENTRAL COMMIITEE

CLERICAL ERROR STATEMENT/AUTHORIZATION

References in the boxes abovo are ror Lender's use only and do not limit the applicabilily of this document to any pRrt!cular loan or item.
Any item above containing ............... has been omilted dutt to text fttnglh limilalions.

Borrower:

Lender:

COLORADO STATE REPUBLICAN CENTRAL

COMMITIEE
5950 SOUTH WILLOW DRIVE #301
GREENWOOD VILLAGE, CO 801i1

CENTENNIAL BANK

DOWNTOWN BRANCH
717 17th STREET
DENVER,CO 80202
(303) 680-1600

This CLERICAL ERROR STATEMENT/AUTHORIZATION lo ottachod lo ond by lhis roforancc is modo o port of tho Promissory Noto, daled
J;muary 8, 2016, ond executed in connoctlon wllh D lo;;in or other financial accommodaUons between CENTENNIAL BANK and COLORADO
STAT~ REPUBLICAN CENTRAL COMMITTEE.

Centennial Bank endeavors and strives to process every loan as accurately as posslbll:!. Occasionally, in U1ls proces~. or In Its general proc~Ss or
aud!Lin~ loan files, we might discover clerlcal errors or clerical omissions which must ba corrected to meet our nnandel inslitution slandcirds.
Whlla such errors and omissions. arc infrequent, it is desirable to have your pre-aulhorizatlon to correct those clerical errors or clerical omlssions.
Centennial Bank wlll not a.Iler or modify the essential terms of the k>an or any !iuppo:ting documentation secwing the loan. Also, errors will be
adjust~d

according to the terms of such State and Federal laws and regulations. We will prompUy foiward to you any document that has been

corrm:led under lhis procedure.

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I (We) hereby Irrevocably authorize Cenlennii1I Bank lo correct, with notice, any clerlco.1 errors or cferlcnl omissions that may be present ln any

BORROWER:

and at1 toan documentation that I \we) encutcdoln connection with our loan. I (We) further understand that sucll ccrr6ctlons shall nGt result In
any ln,resse In the amount of the essential terms of repayment of the lo.an obllgallon. I {We) further consent, in advance, t.o the corrocllOn of
any errors or omlssli>ns as outllned here-In and: thal I (we) unctetstand such correction procedures and agrc~ to such correction proc~dUres,
without prior notice and without n1:1cessity for writhm au\horlz.ii\1011 or appto~al.

THIS CLERICAL ERROR STATEMENT/AUTHORIZATION IS EXECUTED ON JANUARY 8, 2015.

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PROMISSORY NOTE

References in the boxes above a.re for Lende~s u~e. only and cro not llm1t lhe appllcabllity of lhis document to any particular Joa 11 or ilam.
Any item above con1em1ng ,,_ ....... has been omirted due to text length llmltallons.

Borrower:

COLORADO STATE REPUBLICAN CENTRAL

COMMITIEE
5950 SOUTll WILLOW DRIVE #301
GREENWOOD VILLAGE, CO 80111

Lender:

CENTENNIAL BANK
DOWNTOWN BRANCH
717 17th STREET
DEN\'ER,CO 80202

{i03) 680-1600
Principal

Amount: $100,000.00

Date of Note: January 8, 2C) 15

PROMISE TO PAY. COLORADO STATE REPUBLICAN CENTRAL COMMITTEE ("Borrower") promises to pay to CENTENNIAL BANK ("Lendor"),
or order, in lawful money of the United States c;ir America. the principal amount of One Hundred Thousand & 00/100 Dollars ($100,0DO.Oil) or
so much as may bo out61Jndlng, togothor with l_"ntorcst on tho unpaid outs1andlng prfnclpal balance of each adv;ancc. lntcrl'st shall be calculated
team tile date of each advance untll repayment Q.f eactt advance.

PAYMENT. Borrow~r will p3y thia loan In one payment of all outstanding principal ~us all accruod unpaid lnterogt on Januory 8, 2016'. In
ad.dilion, Borrower will pay rogutar monthly payments of all accrued unpaid Interest due as of eilch payment date, beginning Fobruary 8, :?.015,
with all suhscquont Interest payments to be d1.1c on tho same day of each month utter that. Unlc&s otherwise agreed or n1quirud by applicable
law, payments will be applied first to any accn~ed unpaid Interest; and lhen to principal. Borrower will pay Lender at Lender's address shown
above or at such olher place as Lender may designate In writing.

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VARlABLE INTEREST RATE. The interest rate on this Nole is subjecl to chnngo from time to time based on changes In an inC&pcndont index
which Is lhe Wall SlrP.et Jnurnal Prtme Rate (the "Index"). The Index Is nol necessarily the lowesi rate charged by Lender on ils Joans. If the
Index becomP.1': unnvAilnble duri11g lhA term of this loan. Lender may designale a subStitule Index after notifying Borrower.. Lendor will ten
Borrower the currenl Index rale upon Borrowe~s request. The Interest rate change will not occur more often than eacll day. Borrower
understands that Lender may make loans bas~ on other rates as well. The Index currently Is 3.250% per annum. Interest on tho unpaid
principal balance of this Nole will be calculated as described In the "INTEREST CALCULATION METHOD" paragraph using a rate of 2;000
percentage points aver the Index. resuWng In. an inllial rate of 5.250% per annum based on a yea; of 360 days. NOTICE: Undef no
circumstances will the Interest rate on this Note: be more than the maxfmum rate allowed by applicable law.

INTEREST CALCULATION METHOD. Interest on this Note ls computed on a 3651360 basis; !hat Is, by applying the ratio of the lnterest:rate
over a year of 360 days, mu/Uplled by the outstanding principal balance, mulllplled by the actual number of days the principal balance Is
outstanding. All lntorost payable undar this Note is computed using this method.

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PREPAYMENT; MIN\MlJM '\NiEREST CHARGE. In any tilvant, even upon 1ull prepayment of thls Note. Borrov~r understands that Lender ls
entiUed to a minimum Interest charge of $25.00. Olher than Borrower's obligation to pay any minimum Interest charge, Borrov.rer may: pay
without penalty all or a portion of the amount owed earlier than It is due. Early payments will not, L!nless agreed to by Lender in writing, rerieve
Borrower of Oorrowar's obllgatlon to conlinue to make payments of accrued unpaid iilterest. Rather. ear1y payments wlll reduce the prinCipal
balance due. Borrower agrees riot lo send Lende.- paymehls manted paid in full". "wllhoul recourse'", or similar language. If Borrow~r s~nds
such a payment. Lendar may accept tt without losing soy of Lander's rights under thJs Note, and Borrower will remain obligated to pay any
further amount owed to Lender. All vnitton c~mmunicatlons concerning disputed amounts, including any chedl; or other payment Instrument
thal indiCilles I hat the payment constltute.s "payment In full" or the amount ovied or that Is lenderecl with other conditions or limitations qr i?.j:
full sntlsfacUon of a disputed amount rnust ba m:'!ilod or dollvcrcd to: Centennial Bank, 13700 E. Arapahoe Rd. Contcnnlal, CO 80112.

LATE CHARGE. If a paymenl Is 10 days or inore late. Borrower will be charged 5.000% of the regularly scheduled payment or $50.00,
Whichever Is greatnr.
INTEREST AFTER DEFAULT. Upon defauJ~ including faHure to pay upon final maturity, the inleresl rate on Jhis Note shall be increased lo
21.000% per afVlLim based on a year of 360 days. However, in no ovont will the interest rate exceed the maximum interest rate limitations
unller applicable law.
'
DEFAULT. Each of Ute following shall consUtule an event of defaull ("Evenl of Default') under lhis Nole:
Paymenl Defuult. Borrower fails to mak.e any payment when due under this Note.

Olher De!aulls. Borrower tails to comply Wilh or to pertorm any olher larm, obligation, covenant or condition contained in this Nola 9r in
any of lhe relal.Bd documont:.; or to comply with or to perform any term, obligation, covenant or ccnd:tion con1ained in any other agreement
b8tween Lender and Bormwor.
Defnull In fe.vor of Third Parties. Bormwe:r or any Grantor defaults und~c any loan, ex.lension of credit, securtty agreement, purcnas'.e oc
sale5 egreem.ent, or ony other agreemenl. in favor of any other credllor or person that may materlaUy affect any of Borrower's property or
Borrower~ abi!ily to 110 1-Jay this Note or perform Borrower's obligaUom; umJer this Note or any of Iha related ducu1mmt.s.
1

False Statements. Any warrsnly, representation or statement made or fumShed to Lender by Borrower or on Borrower's behalf undetthis
Note or the related documents is false or rriisJaading in any material respect. either now or at the lime mad:e or 1urnished or be!:Omes false
or misleading at any time therealter.

Dc&1th or Insolvency. The death of Borrower or the dissolution or tormlnation of Borrmver's existence as a going bu&iness, the insolvancy
of Borrower, the appointment of e receiver for any pert of Borrower's property, ony essignmenl tor the benem of creditors, any type of
credllor workout, or Iha cornmencemenl of any proceeding under any bankruptcy or insolvency laws by or against Borrower.
Creditor or Forfollure Proc:eodlngs. Comrtjencoment ot foreclosure or 1ort6iture proceedings, whelhcr by judlcial proceeding, self""'1elp,
repossession or. ony other method, by any creditor of Sorrower or by any govemmentat agency against any collatcrW securing the loon.
This Includes a garnishment of any of BorrOwer"s accoums. including deposit accounts. w/Ltl Lender. However. tnis Event of Defauit shaU
not eppty if there is a good faith dispula by: Borrower as to the validity or reasonableness of the claim which Is the basis of the creditor or
rorreilure procet!ding and if Bonower gives Lender written notice of U1e creditor.or forfeiture proceeding and deposils wil11 Lander monies or
a surety bonrl for the creditor or ror1al1ure proceeding, In an amount determined by Lender, In lts so!a discretion. as being an adeqoale
reserve or bond for the dispute.
Evonts Affecting Gu01rantor. Any of the pr~ceding events occurs with respect to any guaral"tor, endorser, surety. or ac:.commodotion party
of omy of 1hc indobtednes9 or any guarantor. endorser, surety, or accommodation party dies or becomes incompetent, or revok~s or
dlspules lhe validity of, or llaOlllly under, any guaranfy of the indebtednoss evidenced by this Note.

Adverse Change. A material adver.stl Change occurs 111 Borrower's financiaJ condition. or Lender belleves Ille prospect or payme1'.1l or
perfmmam:.~ o1 ~his Note Is Impaired.
Insecurity. Lender In good faith belfevas Itself Insecure.

Cure Provisions.! If any dafault, olhor than a default In payment Is curable and if Borrower has not been given a notice of a breach of the
same provision bf this Nola wilhln the prei:ecf1ny twelve (12) rnonlhs. il may be cured if Borrower, alter Landar sends written nolice l:i
Borrower dama~dlng cure of such default (1) cures the default wtthin twenty (20) days; or (2) If the cure requires more then twenty
(20) days, 1mmQdiatety Initiates steps which Lendor deems in Lender's solo d'iscrotion lo be sufficient to cure the default and lherestter
continues and ct?mptales all reasonable and necessary steps sufticlenl to produce compliance as soon es roasonabfy practJcal.

LENDER'S RIGHTS. Upon dofaull, Landor may declare the entire unpaid principal b=alonce under thi$ Note and all accrued unpaid
inunediotely due, and: then Borrower will pay that amounl.

int~rcsl

ATTORNEYS' FEES: ~PENS ES. Lender may hire or pay someone else to help collect this Note It Borrower noes not pay. Borrower will" pay
Lander tho reasonable costs of such collection. TtJs lnciudes. subjecl to any llmlls under eppllcable law, Lender's anorneys' fees and LenCer's
legal expanses, whether or not there Is a lawsull, including wlthour /Imitation etlomays' tees and lagal expenses for bankruptcy ptoce~dings
(including ettorts to f!!odilY or vm:CJle any automatlC c1~y or Injunction), anCI oppeals. If not proniclted by appli~b:e law. Borrower al!>D w111 pay
any court costs., tn il~dilion lo all other swns provided by law.
.
JURY WAIVER. Londor and Borro.,..cr hereby waive the right to any jury trial i.n any action, procooding, or counlc~laim brought by uilhcr Lcncicr
or Borrower against the other.
G.OVERNING LAW. in1s Note will be governed bY' federal law _applicable to Lender and, ro the ealent not preempted by federnl Jaw, th& laws o1
1hc State of Colorado. without reoard to Its Gonfll~ts ot law provisions. This Note llas been accepted by Lender In the State of Colorddo.
CHOICE OF VENUE. Ir 1tiere Is a lowsult. Sorrower agrees upon Lender's requesl to submit to the jurisdlcllon of th.a courls of DENVER Coiinty,

- - - - - . - . --;-:;--.r::-:-.:

.... :,;.:":.-;:..:...i .... -.

BUSINESS LOAN AGREEMENT

References In the bo>es above are for Lender's use only and do not llmil the appucabilily or this document lo any particular laan or item.
Any item above containing ....... k . . has been omitted due to text length limitations.
Borrower:

COLORADO STATE REPUBLICAN CENTRAL

COMMIITEE
5950 SOUTH WILLOW DRIVE #301
GREENWOOD VILLAGE, CO 80111

Lender:

CENTENNIAL BANK
DOWNTOWN BRANCH .
717 17th STREET
DENVER, CO 80202
(303) 600-1600

11-llS BUSINESS LOAN AGREEMENT dated January 0, 2015, is made and executed between COLORADO STATE REPUBLICAN CENTRAL
COMMIITEE l"Borrower'1 and CENTENNIAL BANK ("Lender") on lhe following terms and conditions. Borrower has roccivcd prior commertial

loilns _from Lendc-r or ~~s applied to Len def'" for a con;mercl11I loiJn or IOal\li or olhor tinunclaJ accommodations, ln:;:ludlng those. which muy be
de:tcnbed on any oxJub1t or schedule attach1:d to this Agreement. 6orrow~r um.h:rstimds a11ci agrt:es U~t: (A} in granting, renewing, or
e.xlan~ing any ~oan, Lender Is rnlylng upon Dorrowcr"s roprcscnbtlons, warrantJcs, and agreements as set forth in thls Agreement; (8) the
granhng, ronow1ng, or nxtondlng of any lo:1n by, lender at all llmes shall be subject to Lender's solo judgment .and discrolion; ond (C} all such
Loans :i;hall be amJ remain subject lo the lenns: and condlUons of lhls Agreement

TERM. This Agreement shall be effective as of January 8, 2015, and shall .conlinue in full force and effect until such time as all of Borrower's
Loans In favor of Lender have been pold In fUll, Including pr1ndpal, Interest, costs, expenses, attorneys' fees, and olher fees and charges, or
lJntH such lime as the parties may agree In wrlling to lermlnale this Agreement.
.

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CONDITIONS PRECEDENT TO EACH ADVANCE. Lender~ obligalion lo makts the inllial Advance and each subsequenl Advance under this
Agreement shall be subject to the fUlflllment to Lender's salisfaclion of all of lhe conditions sel forth in th!:; Agreement and fn lhe Related
Documents.

Loan Documents. Borrower shall provide to Lender the following documenls for the Loan: (1) the Note: (2) together with all such
Related Documents as Lender may roquirn for tho Loan: all in form and substance satisfactory to Lender and Lender's counsel.
:
Borrower's AUthorlz:aflon. Borrower shall have provided In form anci substance satisfactory to Lender properly ce:lified re~olutions, :duly
authorizing the execution end delivery of lhis Agu~entent, the Nole and the Related Documents. In addition, Borrower sheU hav~ provided
such o!her r~solulions. liulharizalions, documents and instruments as Lender or its counsel. may requite.

Payment or Foes enc.I Expe11sc5. Borrower shaJI have pilid to Lender all fees. charges. and other e:rpenses which are 1hen due .::trn1 paYable
as specified 111 this AgrcemP.nl or eny Relalud Document.
Reprcsentiltlons and Warrantlos. Tho reprcsantallons and warrantle& sat rorth In this Agreement, in the Rol.:ilod Documents, and in; any
document or certi1icate de~ivered to Lender Lmder this Agreement ere true and correct.
No Evant of Oafi:Jull. Thore shell not exisl at lhe time of any Advortce a conc:llUon which would constitute an Evenl of Defaull under: this
Agreement n,r under any Relnted Documenl
'

REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants to Lender, as of !he d:ita or !his Agreemenl. as of the rials of ~ch
disblJrsement of loan roce::eds, .as of the date of any renewal. extension or modlflcation of any Loan, and at all times any Indebtedness ex.isl~:
Organization. Borrower Is a governmental !30tlty Which Is, and at all times shall be, duty organized, validly exisling, and In good staridlng
under and by virtue of the laws of the Slate of Colorado. Borrower Is duty euthoriz.od to transilCC busfncss ln all other states in which
Borrower is doing buslne~. having obtained all nacessary filings, gov~rnrnental licenses and approvals for each state in which Borro~r Is
doing business. Specifically, Borrower Is, a_nd at au times shall be, duly qualified as e foreign in all states in which the failure to so qualify
wouki have a material adverte effect on its businsss or financial condition. BorrO\'ler has the full power and OJuthority to own its propertJes
and to transact tha business In which It is presentty engaged or presently proposes to engage. Borrower maintains an office at 5950
SOUTH WILLOW DRIVE #301, GREENWOOD VILLAGE, CO 80111. Unless Borrower has designated otherwise in wrlllng, the principal
oHice is lha offrce at which Borrower keeps its books and records lncludfng lls records concerning Iha Collateral. BorrO\Yer will notify
LendE;r prior ta any change in Iha local/on of Borrower's state of organlz.alion or any change in Borrower's name. Borrower shaU cfo all
things necessory to preGcrve and to keep iri full force and etfccl its exislence, rights and privileges, and 3hall comply wllh all regulations,
rt.des. ordinances. statutes. orders and decrees of any novemn;ental or quasJ-govemmental authority or court app:lcable to Borrower and
Borrower's business aclivities.

Assumed Business Names: Borrower has ti!ed or recorded ell ~ocu.ments or filing~ required by law rela~ng to all assumed ou~lness na1mes
used by Borrower. Excluc:hng tne name of Borrower, the following 1s a complele list ot all assumed buromess names un~or which Borrower
does business: None.
'
Author1mUon. Borrowet's
authorized by all necessary
provision of aily agreement
appllcable 10 Borrower or to

execution, delivery, and performance of this Agrt'Cment and all the Related Documents have been duly
action by Borrower and do not conflict with, result In a violation of. or constitute a default under (1} . any
or other Instrument binding upon Borrower or (2) any law. governmental ragulatlon, cour1 qecree. or Order
Borrower's properties.

Financial lnfonnation. Each of Borrower's financial slalemenls supplied lo Lender tn.1ly and completely dtsclosod Bot"rower's financial
condition as of the date of the statement, and there has bocn no matertal adverse change in Borrower's financial condition subsequent to
the date ot the mosl recent financial statemenl supplied to Lender. Borrower has no material contingent obligations except as disciosed in
such financial slalementa.
Leyal Effoct. This Agrecmenl constitutes. and any instrument or agreement Borrower is rt;tquired lo givo under this Agroemenl when
delivereo will conslilute lcgol, valid, and binding obligations or Borrower onrorccublo ugalnsl Borrower In ~ccordancc wilh their respeclivo
terms.
Proporlles. Except os contemplated by lhis Agreement or as previously disdosed In Borrower's financial statements or in writing 10 Landar
end as accepted by Lender. and except for property tax liens for taxes not presently due and payubte, Borrower owns o.md has good Ut!e lo
all of Oorrowe(s propenlcs free and clear o.f all Security Interests, and has not executed any sar.urity documents or financing staterr(enl:>
n~ll:::tllug lo 5uch 1..110011ic.s. All of Borrowers propen.les am tilled in Borrower's logal name, and Borrower hes not used or filed a finaricing
statement under any other name for at least the last five (5) years.

Hazardous Substances. Except as disclosed. to and acl<nowledged by Lender In writing, Borrower represents and warrants that: (1) During
tho period of Bor,rowc~s ownership of the COllataral, there has been no use, generation. manufacture. storage. lreatment, disposal. rel?a:;e
or threatened rel~ase or any Hazardous Substance by any ersun on, under, about or from any of the Collateral. (2) Borrower ha~ no
kno\'Jledge of, or1reason to believe that there ha3 been (a) any breach or violation of any Environmenlal laws; (b) Any use, generation,
manufacture. sldrage, treotmcnt. disposal, release or lhreatened release of any Hazardous Substance on. under. about or from the

Collateral by any!prtor ownArs or occupants ol any of the Collarornl: or (c) ony oclual or threatened lttigation or claims of any kind by any
person relating to such matlers. (3) Neither Borrower nor any tenant. conlractor, agent or other aulhor1zed user of any of !he Collateral
shall use, generilte, manufaclure, slore, trea1, dispose of or releasa any Hazardous Subslance on, under. about or from any of Iha
Collaleral: and any such acllvlty shell be conducted In compliance with all applicable federal, stale, and local laws, regulations. and
ordinances, lm:lu(nn9 without nmltatlon all Environmental Laws. Borrower authorizes Lender and its agents to enter upon lhe Colleteral to
make such insp~cUon:i end tests as Lender may deem appropriale to detennine compliance of the Collateral with this secllon of the
A,oreemonf. AnY. ln~poclions or tests made by Lender shall bo at Borrower's expense and for Lender's. purposes only and shsll n0:t be
oonstrued 10 crehte an~ responsibility or liability on the part of Lender to Borrower or to any other person. The representations and
warranties contiJined hercln aro based on BorrO'\.-vcr"s due diligonco In lnvcsllgallng the Collateral tor hazardous waste And Maz:arc1ous
Su~stancas. Bel-rower hereby (1) releases and wofves ony futurC claims against L~nder for im.iemnily or contribution in the evenl
Sorrower becom8s liable for deanup or other costs unrler any such laws, and (Z) agrees to Indemnify, dofend. and nold harmless Lender
against ony and ~II cle.ims, los.s~. liabilities, dameges. penallie::s. and expenses which Lender may t.l~reclly or indirectly suslain or s~ffer
rasu!ling from a breach of 1his section of the Agreement or as o consequence of any use, generation, manufaclure, storage, disposal,
release or threatened release or a hazardous waste or substance en the Collaleral. The provisions of this section or the Agreement,
including the ob(igation lo indemnify and defend, shall survive the payment of the Indebtedness and the termination, expiretioh or
salisfacHon of 1~fs AgreamP.nt ;md shall not be affected tty Lender's acquisition of any lnlarest In any of tho CoUaleral, wlletner by
foreclosure or otherwiso.
Utlgallon and Cl81ms. No llligalion, claim. invesllgaliOll, adminislr'ative proceeding or similar action (Including those 1or unpaid uixes)
against Borrowari Is pending or threatened, and no other event has occurred .Which may materially adversely affect Borrower's finahclal
condillon or properties. other ttum llrrgatton, clalms. or other events, If any. that have been c:tlsclosed to and acknowledged by Lendur In

.---~---

BUSINESS LOAN AGREEMENT

(Continued)

Loan No: 16436001

P~ge

wrtting.
Taxes. To the bes! of Borrower's knowledge, an of Borrower's tax returns and repons 1hal are or were ra4ulred to be filed, havo been
med. and all laxes, assessments.and olher [)Overnmenlal charges have been paid In full, except those prnsentlv being or to be contested by
Borrower In good IMh In the ordinary couf"Se of business and for which adequate reseres have been provided.

Lien Priority. Unless otherwise previously disclosCil to Lender in wriling, Borrower has not cnterod into or gronled any Securily
Agreements, or permitter! me ~ting or a:tachmenl of any Security lnl<>resls on. or aflecllng any of L'l<r Collaleral dlreclly or indirP.clly
sacunng repayment of Borrower's Loan and Note, lhat would be prror or that may rn any way be superior to Lende~s Securily rnterast& and
rights in and 10 such Col!eteral.
Binding Effect. This Agreement, the No~c. a!! Securi~y Agreemenl.s (tf any), Bnd an Related Documents are binding upon the signers
thereof, as well as upon tholr successors. reprosontnlives and as~1gns, and are Jegolly enfo;ceable In accordanca wlth their raspe1;tive
ierms.

AFFIRMATIVE COVENANTS. Borrower t;Overt.C1nts and agrees wilh Lender that, so long as this Agreenumt remains in effect, Borrower will: :
Notices of Cliiims und Litigation. Promplly infoun Lt!mJer In writing of (1) ell material adverse ch.QJlges In Borrower's flnanclaJ conditk:Jn,
and (2) all exisUng and
threatened litigaU011, claims, investtgations. administrative proceedings or similar actions affecting Borrower or
any Guar.Jnlcir which could malttrinlty affect the financial r.onclition of Borrower or 1ne nnanctal condition of any Guar~ntor.

au

Financial Records. Maintain its books artd records In accordan.ce with GAAP. ap;:>lled on a consi::.tent basis, and permit Lender to exa~l,l:'is
and audit Borrower's hooks i;lnd records al all reasonable lime&.
.

Fln:incfal Statements. Furnish Lender wilh-suc::h finuncial sll:ll~mt!11ts~and otheF related information at such treouencies and in such debi1 as
Lender may reasonably request.

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AddH:ional lnformotion. Furnish such additlonBI informaUon and ~tat~ments, as Lendor m ..'l~ request fi'om lime 10 time.
Insurance. Maintain fire and other risk Insurance. public liabllity Insurance, and such other inclll3nco ;;as Lendor may require with respei:;t to
Borrower's rupt!rtit:~ an<J.operations, in f~rrn. amounts, coverages and with lnsuran~e companies acceplable lo Lender. Bom>wer, upon
request of Lender. will dol1ver to Lander from time to time the policies or certificates of Insurance in form salisfactory to Lender, lndu_d:ng
srtpulations that coverages will not bo cancelled or diminished without at leas! ten (10) days prior wrilten notice to Lendor. Each Insurance
policy also shall include on endorseime11t providing lhal coverage In favor of Lender will not be impaired ln any way by any act, omission or
dctaull of Borrower or any other cir~on .. In connecUon with all policies covering assels in which Lender holcfs or is offered a seci.Jrity
interest for lhe Loans. Borrower will provide Lender with such lender's loss payable or other endorsements ::as Lender may require.

Insurance Roports. Fumls.h to Lender, upon request of Lender, feports on each existing ln$Ur'1ncc. poticy showing such inormation as
Lender may reasonably request, Including wlihoul llmitalion Ina following: (1) lhe neme of the insurer; (2) the risks Insured; (3) the
amount of the pol!cy; (4) the properttes insured; (5} the then current property values. on the basis of YJhich ir.surancc has been obtuincd,
and the martr:er of det.erminfng lhose value~: and (6) the expiration date of the policy. In addition, upon request of Lender (however not
more often than annually), Borrower will have an Independent appraiser sat.isfactory. lo Lender determine. as applici\ble., the actual Cash
value or replacemonl co~t of any Collolcral. The cost of such appraisal shall be paid by Borrower.

Other Agrcemonti;. Comply with all terms. and conditions of all olher agreements, wheUler now or hereafter existing, Det\-veen BorrQwer
and any other party and nolify Lender imme~diately in writing or any dc(eu/l in ~onnection wilh uny other such agreame.,ts.

Loan Proceeds. Use all Loan proceeds solely for Borrower's business operations, unless specifically consented 10 the conlrary by
writing.

Lend~r

in

Taxes, Charges and Lions. Poy Dnd discharg~ when due all of its indeblednoss and obllgaUons, lntjudlng without llmr.allon all assessments,
mxc!l, governmcnttil charges. levies and liep::;, of ev1:1ry kind and nature. imposed upon Borrower or its prnperU~s. income, or profils 1 prior
lo the date on which penalllos would attac'1. and an lawful claims that, if unpaid, might bec;0me e lien or ct-.arge upon any of Borrnwers
proper1ies. im.:ome, or profits. Prmtlded hoWever, Borrower wfll nol bo required lo pay end discharge any such assessrnenl, tax, charge,
fe'tl'y, lien or claim so long as (1) the legal!ty of tha s.:1me shall be contestad In good faith by approprfata proceedings, and (Z) Borrower
shall have estabfished on Borrower's books adequate reserves with respect 10 such comasled assessment, tax, charge, levy, lien, or clatm
In accordanco with GAAP.
Perfonnanec. Perform and comply, in a timely manner. with all terms. condilions, and provisions sel forth in this Agreement. in lhc Related
O~cumenls, and in aU other 'nstrumenls ajld agreements. beMeeri Borrower and Lender. Sorrower sha\I notif'J Lender immedialely in
writing of any default In connection with any agreemenL

Operatlom. M~inrain execunve and management personnel with substantially the same quaiificallons and experience as the pre:sent
execulive and management personnel; provide written notice to Lender of any changa in executive and managemimt personnel: condut.-t its
bu51ness titr;;11rs In a reasonable and prudent.manner.
En..-lronmen,at SbJdlB.S. Pcomptly conduct aOO comp:lete. at Borrower's expense. an such Investigations, studies, samplings acid lo~ting"_s :i.~
may be roquosted by Lender or any govemniontal authority reletlVe to any oubstance, or any waste or by-product of any substance defined
as toxic or a hazardous substance u!lder iipplicabta federal, state, or local law, rule, regulation. order or directive, at or affecting any
property or any facility owned, leased or used by Borrower.
Compliance with Governmental Requirements. Comply wtth ell laws, ordinances, and regulations. nmv or hereafter In effect, CJ:f eU
governmental authorities appllcoble to the ctintiuct of Borrower's propertios, businesses and opereHons, and to the use or occupancy of the
Collateral, including wilhout /imitation, Iha Americans With OisabiHlies Act. Borrower may contest in good faith any sur.h law. ordinance,
or regulatlon and withhold compliance duririg ony -proceeding, Including approprWle appeals, _so long as Boirower has notified Lend~r In
wrftlng prior lo doing so end so loog as, Ir'! Lender's sole opinion. Lender's intere:;ts in the Collateral are not jeopartiiz.ed. Lender may
require Borrower to post adequalB security or a surety bond, reason;;ibfy satisfactory to Lender, to prolec:I Lender's interest.

Inspection. Permit employees or ogenls of Le~der al any reasonable tirne to Inspect any and all Collateral 1or the Loan or Loons. and
Borrower's other properUos aM \o e)l;amine or a\Jdil Borrower's books. accounts, anrt records and to make co~es end momoranda of
Sorrowe(s books. accounts, ond records. If Borrower now or at any linH! here.airer maintains any records (including without limitQtion
computer genera~ed racords and computer software programs ror the generation of such. re.cords} in the possession of a. third party,
Borrower, upon requE1flt of Lender, shall no~Jfy such party 10 permit Lander frt1e access to su~n records at Bii roasonablu lmies and to
prt)'lide Lender with copies of any records. it rnay request, ~II at Borrower.:; axpense.
Environmental Compliance and Reports. Borrower shall comply in all respects wlth any e11d all Envltcnmental Laws; not cause or perrrlrt to
exist, as a result or an Jn1emlonal or unlnlentional action or omission on Borrower's pan or on the part of any third party, on property
mvned and/or oc-4upled.by Borrower, any environmental activily where damage mey resull to !he e!'vironmenl. unlcs6 such environm~nfBI
aclivily is pursuaht to and in compliance with the condll!omi at a permil issued by the appropriate federal, state or local govemm~nta1
authoritios; :;he.II furnish to Lender p1omplly ant.I In 1:tny ovon1 wtttiln tnlrty (30) aays after receipt thereor a copy of any notfce, su~mons,
lien. cifaUon. dlr~ctive. letter or olher communication from any governmental agency or instrumentality concerning any intentionat or
unintanttonal acli6n or omission on Borrowe(s part in connection with any environmental activity whether or not there Is d;:image to the
environment ancJ9r other n~lural resources.
A.ddUional Assurinces. Make, execute and deliver to Lender such promissory notes, mortgages, deeds of trust, security agreem~nts.
assignmenls, finaftcing statements. Instruments. documents and other agreements as Londer or ils attorneys may reasonably reque~t to
evidence and secure the Loans an<! to penecl all Security lt1lerests.
I

RECOVERY OF ADDITIONAL COSTS. If the imposition of or any chango In any law. rule. regulallon or guideline. or the lntorprotalion or
appllcatlon of any tha~of by any court or administrative or governmental eulhorily (including an~ reque~l or polic~ not having 1ne force of ~aw)
:.h<lll Impose, modify '?r make applictible any taxes (excepl federal, stare or loco_I Income or fronchtSO t:ixcs 1mp~c~ on Lender), ~es,e.rve
requlremenls. capita! a~equacy requlremants or other obllgalfons which would (A) increase the cost to Lender for extenalng or malntBlmn~ lhe
crodil facilities to which lhi~ Agreement relate.s. {6) reduce lhe ilmoun1s payaole to Lender undo:- this Agraament or the Relnted Oocu~nls,
or (C) reduce the ralB of return on Londor's capital as a consequonco of Leodcr'3 obllgaUons wUh resped to the credii facili\ies to which;U1\s
Agreement relates, thefi Borrower agrees to pay Landor such additional amounts as will compensate Lendor fhW:ofor, within flvo (5) days ~fter
Lender's written demand ror such paymenl. whlch demand s.holl bo accomprrnlad by an explanatlon of sucn lmposmon o: char~e ~'d e
calcuJatlcn in reascmable delail of the addllfonal amounis payable by Borrower. which explanation and calculations ahofl be conclusive in lhe
absence of manifest er~or.
LENDER'S EXPENDITURES. If any ndlon or proceeding is commenced Iha! would materially attoct Lender's Interest In the Collateral br If
Borroo.rer lalls to eomply wilh any provision of this Agreement or any Related Oocumonls, lncludlng bul not Hmitod to Borrowc(:.; fnllur"e to
discharge or pay when\due any amounts Borrower is required to dischtH!JC or pay under this AGi:oemi;snt or.any Related. D?cumenl.s, Len~er on
Borrowe(s behalf may ~(but ,:;hall 1101 be obli9a1ed to) rake any action that Lender deoms ::i.ppropnote, 1ncfud1ng but not limited lo d1scharomo or

loan No: 16436001

BUSINESS LOAN AGREEMENT

(Continued)

Page 3

paying all ta~es: l~ens. securily i~leresls. encumbrances and other claims, at any time levfed or plRr.r.rl on any Co!IR!eml and paying all costs for
\nsurlng, maintaining and preserving any Coltareral. AU such expt:ndilures incurred or pald by Lender for such purposes will then bear interest at
the rate charged un~er the Nate from lhe data incurred or paid by Lende1 10 lhe date of repayment by Borrower. All such expensas will oecome
a par1. ol the Indebtedness and, al Lende(s option, will (A) be payable on domond; (B) be added to the balance of !he Note and be
apportion~ amo.~ and be payable wl1h ~ny lnstollment payments to become due during eiLher (1) the term of any applicable Insurance pq11cy;
or (2) t11e r~ma1111ng term of the Note; or (C) De treated as a balloon payment which will be due anc payable et the Note's maturity.

CfSSATION OF.ADVANCES. If Lender has made any commitment to make any Loan to Boriower, wheUier under this Agreement or under. any
ol11er agreement. Lender shall have no obligalion lo makt11 l.oan Advances or to disburse Loan proceeds if: (A) Borrower or any Guarantor is in
default under the terms of Ulis Agreement or acy of the Related Documents or any other a91eement that Borrower or any Guarantor has with
lu~d~r: . (6} Borrows~ or any Guommlor dies, b~comes _Incompetent or becomes insolvent, mes a peliUon in bankruptcy or similar procecdtngs,
or is &C1udged. a bank.Tupi; (CJ ~era occurs e ma ten al adverse change in Borrower's financial condition, in lhe financial condillon of; any
Guarantor, or 1n the value of any Collalerat securing any Loan; or (OJ any Guarantor seeks, claims or otherwise attempts to limit modiiy or
~v~o ~e ~~:f~:8;: 0~-=v~u:~~~:~e~~ lhe Loan or any other loan with Lender; or (E) Lender In good faith deer.is II.self Insecure. even thoug!h no

00

RIGHT Of SETOFF. Ta the extent permitted by. a~plicable law, lender raserves f! right of setoff in an Borrower's accounts with Lander (wh6thcr
checking, s;;1vmgs, or some other account). nus includes all accounls Borrower holds jointly with someone else and all accounts Sorrower "may
DJ.um In lhe fu1ure. However; this does not lncllJde any IRA or Keogh accounts, or ony lru:;.I account!; for which setoff would be prohibited by
law. Borrower authorizes Lender. to the extent permiUod by applicable law, lo charge or sctoff all sums owing on the debt against any anb all
such accounls, and, al Lender's option, to admini-st.rative!y freez.e alt such accounts lo allow Lender to protect LenlJer's charge and s.etoft r1Qhts.
provided in this paraQraph.
DEFAULT. Each of the following shall conslilute an Even! of Defat1lt undt'r th~ Agrdemenl:

0
1
5
0

7
2
2

0
0
0

7
2
5

Payment Dofault. Borrower tails to make any paymen1 when due under the Loan.
Other Oefaults. Borrower 1ails to c:ornp~ with or \o perform any other term, obligation, coven.ant or condition contained 1n lhis Agreemenl
or In any of 1he Related Oocument or io comply wltll or to perfonn any lenn, obligation, covenant or condition contained in anv cilher
agreement belwaen lender and Borrower.

Dofaufl in favor of Third Parties. Borrower or ony Granier defaults unUur any 1oa11, extension of credll, security agreement, purchase or
sales agreement, or any other ogrecment. ~ fo<1or of WlY other creditor or person that may materiany a Ifeel eny of Borrower's or. any
Gnmlor's propor1}' or Borrov1or's. or any Grantor's ability lo repay the Loans or perform their respective obligations under this Agreement or
any of the Related Documents.
Fal&e Stot.emonts. Any warranty, representation or statement made or 'umlshed to L~nder by Borrower or on Borrower's behalf under this
Agreement or the R~ated Document& is false or mis!e0>dlng In ony mn;erial respect. either nov.i or a1 the time mede or furnished or becdmes
false or misleading al any time thereafter.

Death or lnsolv<incy. The death of Borrower or the dissolution or termination of Borrower's existence as a going business, the lnsolv~ncy
of Borrower, lhe appointment of a receiver: for any part of Borrower's. property, any assignment for the benefit ot creditors, any type of
creditor workout, or the commencamen1 of any proceeding under any bankn1ptcy or b'lsolvency laws by or againsl Borrower.
Defective Co1tator:11/zat1on. This Agreement or any of the Rclaled Documenls ceases to be in full force and effect (incrurllng fllure oi" any
:
co\la\eral document to create a valid and perlecled seCJJrily interest or lien) et any time and for any reason.
Creditor or Forfeiture Proceedings. Commoncerr.ent of forecloure or forfeiture proceedings, whether by judicial proceeding, self-lialp,
repossess.ion or any other n1e1hod, by any crad!tor of Borrower or by any governmental ayancy agoinst any collateral secuiing the L,:aan.
This indudes e gernlshmanl or any of Borrowe(s eccounls, lncludlng deposit accounts, with Lendor. Howevor, thio Evant of Do1nult ~hall
nol .apply If there is a good faith dispute byBorrower es lo the validity or reaspnablenes~ of the ciaim which is lhe basis of the credJtor or
forfeiture proceeding and if Borrower gives Lender written nolice of lhe creditor or forfeHure proceedinQ and deposits with Lender monies or
a surety bond tqr the creditor or forfeiture :proceeding, In an amounl determined by Lender, in its sole di.screllan, as ~ing ~n adeqi.rale
reserve or bond for the dispute.
Evenb Affucling Guaranlor. Any of the preceding evenls oc:cul"9 wilh respacl to any Guarantur or any of the lndebledness or: any
Guarantor dies or bocome-.s lncompetenl, or revokes or disputes the validity of, or liability uncfer. ariy Guaranty of the lndebtP.dness.
Adverse Change. A malertal adverse change occurs In Borrower's flnancial condition, er Lender bcllcYes the prospect of payment or
performance of lhe Loan Is Impaired.
ln~ccurity.

Londar in good fait11 bcliovc:; it::.elf in::.ecure.

Right to Cure. If any default, other thane default on Indebtedness. is curable and if Borrower or Grantor. as lhe case may be, has not been
given a nottce of a similar delau/I within the preceding twelve (12) months, It may be cured It Borrower or Granter, as the case may be,
aftor Lenc'er sonds written notice to Borrower or Grantor. as tha ceiSe may bo, demanding cure of such default: (1} cure the default within
twonty (20) days: or (2) if 1ha cure require< more lhan twenty (20) days, immeaiale/y initiate slaps which Lender deems in Lendefs'.sote
discretion to be sufficient to cure !he default and /hereafter continue and complete all reasonable and neressaiy steps sufficient lo pro<luce
compliuncc as soon as reasonably practical.

EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur, except where 01hof'l'.1se provided In thlo Agreemenl or the Related
Documonts, ell commflmenls and obligations of Landor under tJ'lis Agrcomont or the Relatea Documents or any other agreement fmmediatel;I will
teirntoate (including any obligation 10 make furl.her Loan Advances or disbursern'enls), and, al Lender's opllon, all Indebtedness lmmedialely will
become due and payable, all wiihout notice of any kind to Borrower, except that in the case of en Event of Ociaull of the type described In the
1nsolvoncy"' subsedlon above, such acceieration. shall be automatic and nol optional. In addlUon, Lender shall have all lhe rights and reme:dies
pro'Vlded In the Related Documents or availablo al law, In equity, or othe11Nlse. E.:.i:cepl as may be prohfol1ed by applicable law, ~I of Leoi;1er's
righ1s and remedle~ shall ba cumulatlvc ond may ba exercised singularly or concurrently. Etection by Lender to pursutl eny rem~dy shal~ nol
eclude pu~uit of any olher remedy, and an election to make expenditures or lo lake aclion to perform an obllga~on of Borrower or of; ar.y
Grantor shall not affect Lender's right to dec:lare a de1aall and to exercise its riohls and remedies.
REST PERIOD. BORROWER AGREES TO REST THE LINE OF CREDIT AT A ZERO BALANCE FOR A IJl/~IMUM OF 30 DAYS DURING Tr:IE TERM
OF THE LOAN.
I
FEDERAL ELECTION COMMITTEE. BORROWER TO PROVIDE A MON1lilY FEC FORM 3X TO TI1E FEDERAL ELECTION COMMITIEE.
MISCELLANEOUS PROVISIONS, The following miscellaneou~ provisions are a pan of Ui/s Agreement:
Amendments. "f6is Agraement, log~lher with any Related Documents, constltules \he entire understanding and ag1eemont_ o! the partjes
as to the matters! set forth in lhls Agreemenl No alleralion of or amsndmenl to lhis Agreement shall be effectJve unless grvon In wr~ng
and signed by th~ pmty or parties sought to be charged or bound by Iha alteralion or amendment.
.,
Attorneys' Feet!O; l Expco6o~. Borrower ogress to pay upon dam and all of Lende(s reaso11abltj cos ls ar.d expe11ses, Including Len~er's
attorneys' fees
Lender's legal expenses. incurred in connection with Iha en!orcermmt of 1his Agreernen1. Lender may hire or; pay
someone else l:o t:Jalp enforce this Agreement. and Sorrower shall pay 1he rea~onable costs and ex~ns~s of ~uct\ enlorce~en1. Costs and
expenses Include; Lender"s attorneys' fer.s. and fe9al expenses whether or not there Is a l3ws~1.t. m~ud1ng ullorneys fees D~~ logal
expenses for bankruplcy proceedings (including effons to modify or vDcate any eutomatic slay or inJunction), ~ppeals, and any vnlic1p,aled
post-Judgnnml co!leclil.m services. Borrower slso shall pay all court costs and such addilicnal fees as mEJy be drrec1ed by lhc court.
i

a}id

Caption Hooding~ Coplion headings in this Agreement

provisions of lhis :Agreement.

~re

for convenience purposes onfy and are not to DB used lo intcrprC;tl or

dcfl~

the

Consent to Loan! Partldpellon. Borrower agrees and consents to Lender's s.aJe or transtor. whether now or later, of on~ or r;iora
partlcipallon tnmres~ In <he Loan to one or more purchasers, whether related or unrelated to .Lender. Len<ler may provide, without any
firnllation whatsoever, 10 any one or more purdlasers, or potenllal purchasers, any mlormauon or knowledge Lender may ~ave Qbou1
Borrower or about any other matter re.Jaling to the Loan, and Borrower hereby waives any rights to privacy Borrower mny have with respect
to such matters. iBormwer Lldditionally wafv&s any and all notices of .salo of p:lrticipalion interasts, aa well as all notices of u':'y ropurcha.s1:t
of such part/dpation interastc. Borrower also agroes thal lhe purchasers of any such p8rticipalion interesls will be consideretJ as: lhe
a~sotute owners of such Interests in the Loan and will have all /he rights granted under the parllclpallon agreement or agreements
oovernlng the sal~ of such partidpaUon Interests. Bor!'Ower further waives all right~. of offset or counter.c.laim lhet it mey have now or !ater
against Lender or against any purcha:ier of such e par11clpa11on Interest end uncond1uonaUy agrees that 011.her Lender or such purchoser may
enforce So1Tower's obliga\ion under ihe Loan \rrespec\ive of me failure or insolvency of any l'\o!cier of aoy ln\erest In the Loan. Borr6i.ver
further agrees lh?il tho purchaser of any s~ch participation lntcrc.sls may enforce tts interasts Irrespective of any person.al clalm;S or
defenses lhot Borrower m3y havo ogo.fnt;.t Lender.

----.
.

BUSINESS LOAN AGREEMENT

Loan No;

(Continued)

16436001

Governing Law. This Agreement will be governed by federal law applicabJa to Lendor and, to the oxtont not preempted by federal

Page 4
l~w;

the

laws of the State of Colomdo without regard to its conllicls of law provisiornt. Thi& Agreement has been accepted by Lender in tho St..110
of Colorado.

Choice of Venue.

If thera is a lawsuit, Borro.ver agreas upon Lender's raquest to submit to the jurisdiction of the courts of DENVER

County, State of Colorado.

No Waiver by Lendor. Lender she.II not be peemed to have waived any rights under this Agrttemenl unless such waive1 is given In writing
and si~nert hy Le~der. No delay or ornissio_n on U1e parl of Lender In exercising ~::iny rtghl shall opera1e as 3 waiver of such ri9ht or;any
other right. A waiver by Lender of a proV'lsion of this Agreement shall not prejudice or consutute a waiver of L&nder'.i::; right otherwise to
dam.and strict compliance with that provision or any other provi:::1ion of U1it.i Agroomenl No prior waiver by Lender, nor any cour-W 01
dealing between Lender and Sor.rower, or bet\oieep Lender and an_y Granlor. sMll coC'lstltutc a wo.ivor of any of Lender's rights ar of aff/ of
Borrowe~E or any Granter'::. obhgatlons. as to ~ny tuture transaclions. Whenever ttltt consent of Lender is required under this Agreemenl,
Ute granting of such con::;enl by Lender in any 1nsUlnce shall nol constitule canUnulng consent to subsequent fnstancas where such conSent
is required and in all ca:ses such consent may be granted or withheld In the sole discretion of Ltmder.
Notices. Any notice required to be given 1,<1nder this Agrccmcn1 shall be 9Jven In writing, end shall ba effective when actually delivered,
when ac~atly racP.ived by 101etacsimi1e (unless otherwise required by IBW), when depositod wllh a nationally recognized overnight c01irier,
or, ii mailed, v-Jhan deposited In the Unlled Slates mail, as first class, cenmea or registcreef mil ii postage prepaid, directed 10 the addreSses
shewn near tho beginning of \hi5 /\gri:?emcnt. Any party may change lts eddre3s for notices under this Agreement' by giving formal wr!u.an
notice to the other po1liCG, specifying that the purpose of Ule notice is to change the party's address. For nolice purposes, Borro\\ t1r
agrees to keep Lender informed at oil times of Borrower's current address. Unless otherwise provided or re4L1ired by h:1w, if there hi 1iiore
than one Borrower, any notice given by Le~er to any Borrower is deemed to ba notice given to all Borrowers.
:
0

2
8
1
5
0
7

2
0
3
0
0
0

1
2
7
2
6

Severablllty. IF a court of competen1 jurisdiction finds any provision of this Agreement to be Illegal, invDfid, or unenforceoble as to.any
clrcumslance, that finding shall not make the offending proviolon Illegal, Invalid, or unenforceable as lo any other circumslance. If feas_ib!e.
the offending provlsion shalt be considered modified so that it becomes legal, valid and enforceable. If !he offanding p1ovision cannol tJ so
modified, ii shall be considered tleJoted from thls Agreement. Unless olhefWise required by law, the Dlegality, invalidity, or unenforceabirity
of any provision of this Aoreement shaH not nffacl thei legality, vo:tilidity er onforceabllity of any other provision of this Agreement.
Subsld/arlos and AfflHates of Bor1owor. To the exrent lhe context of any provir.ions of trus Agreement makes it approprfate, includ/ng
without limitation any representation, warranty or covenant, lhe word 11 Borrower- as used In this Agreement shall include all of BorrO\~er's
:;ub~idiaries and affiliates. Notwithstanding the forsgotng however, u11d~r no circ-Jmstances shall this Agreement be construed to require
Lender to make any Loan or other financial ~ccommodetlon to any of Borrowar's subzidlaries or :Jffiliates.

Successors and Assigns. All covenants ond agreements by or on behalf or Borrower contained In lhJs Agreement or any Related
Documents shall: bind Borrower's successors and assigns and snail inure lo rne beneni ur Lendor and Its successors and assigns. Borrower
!'>hA/I nor. however, have lhe right to assign Borrower's rights under lhis Agreement or any Interest therein, without the prior wrl,tlen
consent of Lender.

Survival of Raprosenbtfons and Warrantios. Borrowor uridor~tands and agrees thal in exlending Loan AdvanC{"..S, Lendor i~ relying on all
representations, ;warranties. and covenanlS: made by Bomnver in this Agreement or In any cer1iflcate or olher Instrument delivere~ by
Borrower to Lender under this Agreement
lhe Related Oocumenls. Borrower further agrees that regardless of any investigation mad!) by

or:

Lender, all such representations, warranties and covenanls will survive rhe extension of Loan Advances and delivery to Lender ol Iha

Relaled Documents, shall be continuing in n~ture, sf\all be deemed made and redaled by Borrower al the time each Loan Advanca ls made,
and shall remain in Full rorce and t:lfTecl until such Um~ as Borrower's lndebledness shall be paid in full, or until this Agreement shajl be
1
terrniru:tlecJ i11 lhe m~nner provided above. wr:tlchevec is the last 10 occur.

Time is of the E5sence. Time is of the esserics in tho performance of this Agrecmenl

W.:ilvo Jury. All parth:s to this A.grccmcnl hereby waive Ute right lo a.n)' Jury tclat In any a.cticn 1 proceedlng. or countcrctalm brought by any
party against :i.ny other party.

DEFINITIONS. The fo.llowlng capitalized words ajid terms GhaU have the following meanings when used In this Agreement Unless specifib.any
ctated to the contrary, oil references to dollar am.aunts shaU mean amounls in lawful money of lhe United States of Amor/ca. Words and 1erms
used in the singular shall inciude the plural, and lhe plural shall include the singular, Hs the con!eKt may require. Words and terms not otherwise
defined In this Agreement shell have the meanings attributed ta such lerms in the Uniform Commercial Code. Accounting words and teffrn! not
othervlise defineo In thls Agreement shaO have the meanings a-sslgned to them In accordance with ganeral:y ac-...apted accounting princlptes as in
affect on the data of this Agreement:
Advance. The word "Advance" means a dlSburaement of Loan funds made. or to be made. to Borrower or on Borrower's behalf an a: lir:e
of credil or mulliple adv1:mce basis under lbe terms and conditions of this AgreemenL

Agreement. The word "Agreement" means .this Business Loan Agreement, as this Business Loan Agreement ma.y be amended or moQified
from time to lime. together wlU1 all exhlblls and schedules LtUached lo this Bur;lness Loan Agreement from time to time.
Borrower~ Thti: word eorrow~r" means ~COLORADO STATE REPUBLICAN CENTRAL COMMITTEE and includes aD co-slgl\C!rs 1and

c.o-makera signing U1e Note and all their sucq;ssor.; and assigns.
Collateral. The word collateralu means all property and assctG granted as collateral security for a Loan, whetnor real or personol pro~rty,
whether granted directly or indi1ecUy, whether granted now or In the ful.J.Jre, end whether granted in the form of a security iilterest,
mortgage, collaternl mortgage, dead of trust! assignment, pledge, crop pledge, chottcl morteage. coUt:llural chuth~I mortguge, chattel f~usl,
roctor's lien, equipment trust, conditional sale, trusl receipt, lit:n, chargt!, lien or tllle retention contract, lease or consignment Intended as r1
security dovico, or any other security or lien intcrest wholsoever, whether created by law, ccntract, or otherwise.
Environmental Laws. The words "Environmental Lai,\s mean any am! all state, federal and local statutes, regulation6 and ordinances
relating to the piotecfam or human heallh Or lhe env1ronrnent, including without limilaUon tne Comprehensive Environmental Respcm:o,

Componsation, Hnci Liability Act or 19~U. ~amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"). tho Suporfund Amendments.and
Reau1homalion f\cl 0110&6. Pub. L No. S9-4S9 ("SARA"), the Hazaroous Materials Transportation Acl, 49 U.S.C. Section 1801, el ~eq.,
ttia Rasoun:e Conservation and Recovery Ac~ 42 U.S.C. Soction 6901. et seq., or other apptlcable state or federal laws, rulll'!, or
regulaliom: adcpted pursuant thereto.

Event of O\afautt. The words "Event of Oefat.ill" mean ony of 1he &vents or default set for1h in this Agreement in tho default section of this
Agreement

GAAP.

The word 'GAAP'

means generally accepled accounting principles.

Grentor. The wdrd "Grnntor"' means eadl anu i!ll of Ille p~r.:;on~ or entities orantlng e Security lntcrnst In any Collaleral for the L./lar:,
including without ~limitation all Borrowers gmnting such e Security Interest.
Guarantor. The wcrd "Guaran1or"' means

any

guarantor, surety, or accommodaUon party o1 any or ell of the Loan.

Guaranly. TI1t: wbrd "Gunranty 0 means the g11aran1y from Guor.anlor ro L&nder, including without limitation a guaranty of all or part of the
!.fate.
Hazardous Sut>s.dncas;. The words "Hazardous Substance~" meLJn materials thal, because of their Quantity, concentralion or phyiical
chemical or lnfedtious ch~rocleristics, may cause or pose o presenl or potential hazard to human health or the environment ~hon
Improperly u~. jtreatcd. stored, disposed of, generated. manufactured, transported or othsrwlsa handled: The words H~~r~mss
Subsiances11 are usad in their vary broadest sense and Include wllhout limitation any and aU hazardous or toxic substances, mate"a.is or
waste as defined by or 'isled under the Environmen'ta\ laws. The term ""Mazardous Sutistances aloo \nciudes, wilhout ltrnltallon, petro\Bum
;
and petroleum by:producls or any Fraction thomor and asbo.sto~.

'

wor<l "lndeblednass
Iha indobledness evidenced Dy the Nole or Related Documen1s. Including all principa~ and
in\erest together With all othor intlcb\edn&Ss and coslS end e1Cpenses tor which Borrower ls responsible: undar this Agreemi:!nl or Linder any
of 1he Relaled ooCumenls.
.\
Limdet. Ttie wor~ "Lender" means CENTENNIAL BANK. its successors and assigns.

1ndebledne"8.

rri\i

meanc

Loan. The word~"Loan"' rnuan.s einy end all loans end financ\al accommodalions. 1rom Lender io Bonuwer whelr.er now or here~fter
exi:sting, and howf:ver evidenced, including "Vilhout limilation those loans llnd financial acoommodelions descrlt>eo herein or described on
any exhibil or sch~dule attached to this Agre~ment from time lo time.
.

~ole. The word "Note" means Iha Noto dntdi Jnnuory 8, 2015 and executed by COLORADO STATE REPUBLICAN CENTRAL COMMtTIEE
In the principal amount of $100,000.00, together with all renevmls of, extensions cf, modifications of. refinancings of, consolidation:; of.
and substttullons ror the note or credit agreelTil!nl.

BUSINESS LOAN AGREEMENT

(Continued)

Loan No: 16436001

.

Related Documents. The words "Related Documents mean ~II promissory notes, credit agreements, loan agrcemenls, envlronmcntaJ
agreernenls, guaranlies, secumy agreements. mortgages, deeds of trust. ecurlty deeds, coltoteral mortgages. and ail ot~.er inslrum..nts,
agraemenl::i and documents. whether now or hereafter exisling, execuled in oonneclion with lhe Loan.
I
Security Agrocment. The words nsvcuii\y Agreamen1" mean and lncluda without llmllallon any agreements, prornlses, coveniints,
arrangements, undarslandlngs or olher agreements, whether created by law. contract, or olherwise, evidencing. governing, represenlln~. or

creating a Security !ntorest

Security Interest.

The wo1ds "Securily lriterest" mean, without limttalion, any and au types of coJlatsral security, present and future,
whether in Iha rorm or a lien. charge, encumbrance, mortgage, deed of lrust, security dood, assi9nm0n1, pledge, crop pledgo, chflttel

mortgage, collateral chattel mortgag. challel trust, factor's lien. equipment trust,

condi~onal

sals, trust receipt. lien or title

mtc~llon

contract. lease or consignment intondod a& Cl !>ocurity device, or any other sec.urlly or I/en lnlorest whntsoever whether croetecl by )aw.
contract. or otherwise.

BORROWER ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS BUSINESS LOAN AGREEMENT ANO BORROWER AGREES TO
ITS TERMS. THIS BUSINESS LOAN AGREEMENT IS DATED JANUARY 8, 2015.
.
BORROWER:

2
1

LENDER:

CENTENNIAL BANI(

By:~~~~~~~~~~~~~~~,.,..,.~==-~

7
2
2
0
3
0
0

')

''

DAVIS S; SUTLER, SVP, RELATIONSHIP MANAGER

PATRIOT ACT DISCLOSURE

References in the boxes above are ror Lender's use anly and do nol limit the applicability of lhis document tu any p;:irticular loan or l\t~m.
Any Hem above conlalning ............. ha<J oeen omilted due to text length limitations.

Borrower:

COLORADO STATE REPUBLICAN CENTRAL

Lender:

CENTENNIAL BANK

COMMITTEE

DOWNTOWN BRANCH

5950 SOUTH WILLOW DRIVE #301

GREENWOOD VILLAGE, CO 80111

71717th STREET
DENVER, CO 00~02
(303) 660-1600

IMPORTANT INFORMATION ABOUT PROCEOUR,ES FOR OPENING A NEW ACCOUITT OR ESTABLISHING A NEW CUSTOMER RELATIONSHIP

To hAIP thA U.S. government Oghr the fundln!) of rerrori!im and money laundor!ng 0:ctivrt.les, Federal law requires all U.S. financial in~titulion9 to
obtain, verify, and record informallon that ident!ries eac;h Individual or lnstitullon !hill opens an account or e:;;tablishcs n cus~omcr relallon.shlp
wllh Cenlsl'\nlal Bank.

What this means.: lf you enter into a nevi customer relationship wlth 'Contonnial Bank. we will ask for your name, address. dale of birth (as
;:ippllcoble), and other idanllflcatlon i11rormetion. This inrormation will be used Lo verify your identity. As appropriate. we may, lo our dlscretion,
a~~ tor additional d0Cumen1auon or information. 1f all required documente.lioo 01 \nformotloo Is not pmvlOed, Centenolal Bank moy be unabl.e to
oen an account or esr~bllsh a rslalion.::;hlp wUh you.

7
2
2
0

3
8
8
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2
8

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DISBURSEMENT REQUEST AND AUTHORIZATION

Relerences in tile boxes above are for Lende~s use only and do not limit the applicability of this documenl to any particular loan or ilem.

Any item obove cohlainlng ............. has I.Jean omllted aue to text length llrnitations.

Borrower:

COLORADO STATE REPUBLICAN CENTRAL

COMMITTEE
5950 SOUTH WILLOW DRl\IE "301
GREENWOOD VILLAGE, CO 80111

Lender:

CENTENNIAL BANK
DOWNTOWN BRANCH
7171Tth STREET
DENVER, CO 80202
(JUJ) 680-1600

LOAN T'f PE. This is a Vru1able Raio Nondlsclosable Revolving line at C1edil Loan to a Government Entity for $100,000.00 due on Jonuel)I 8,
2016.
PRIMARY PURPOSE OF LOAN. T11e primary purpose of this loan is for:

Per.conal, Fumily, or Hou5ehohJ Purp~ses or Personal lnve$tmont.

181 Busllll!Ss

(Including Real Es!Blo lnvastrnenl).

SPECIFIC PURPOSE. The specific purpooo of this loan is: WORKING CAPITAL.

2
0
1
5
0

DISBURSEMENT INST'.RUCTIONS. Borrower understands lhat no loan proceeds will be disbursed until all of Lander's conditions for 11UJkfng the
loan have boan sati:;fied. Pleaso dia.burse the loan proceeds or $100.000.00 as follows:

Noto Principal:

$100.000.00

Prepaid Finuncn Charges Paid in Cash:

Olhor Charges Paid In Cash:

Tol::ll Charges Paid In Cash:

2
7
2
9

s1,ooo.oo

AUTOMATIC PAYMENTS. Borrower hereby aulh<i~zes Lender automatically lo deduct from Borrowe(s ODA account, numbersd 2115160, !he
amount of any loan payment. It 1he funds tn the account are insuffic"1ent to cover any payment, Lender shall not be obligated to advance funds
lo cover the paymenl ;Ac any time and for any reason. Borrower or lender may voluntarily terminate Automatic Paymenls.
FINANCIAL CONDITION.
BY SIGNING THIS AUTHORIZATION, BORROWER REPRESENTS AND WARRANTS TO LENDER THAT THE
INFORMATION PROVIDED ABOVE IS TRUE AND CORRECT ANO THAT THERE HAS BEEN NO MATERIAL ADVERSE CHANGE IN BORROWER'S
FINANCIAL CONDITION AS DISCLOSED IN BORROWER'S MOST RECENT FINANCIAL STATEMENT TO LENDER. THIS AUTHORIZATION IS
DATED JANUARY 8, 2015.

0
0
1

$0.00
$1.000.00

$1 .000.00 Loan Origination Fee

2
0

$100,000.00

CHARGES PAID IN CASH. Borrower ha9 po:Jid or ~... ill pa~ in cash as agreed lh~ rollcwing charge~:

Undisburstid Funds:

BORROWER:

ALL, STATE CHAIRMAN of COLORADO

UBLICAN CENTRAL COMMITTEE

Centennialbank 13700 East Arapahoe Road, Centennial, CO 80112

717

303-680-1600

r?' Street, Suite 100, Denver, CO 80202

Small Business Jobs Act Certification

The following information is req~ested pursuant to Section 4107(dJ(2) of th_e Small Bu>iness job_sAct of 2Q10. The law reqyires
an institution to obtain a certification from any business receiving a loan using runds received by the institution under the Small

Business Lending Fund.

Legal Name of Loan Recipient:

Legal Name of Lending Institution:

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1
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7

COLOR1\DO STATE REPUBLICAN CENTRAL CC

("Borrower")
CENTENNIAL BANK
("Lender")

As required by Section 4107(d)(2) of the Small Business Jobs Act of 2010, Borrower hereby certifies to Lenderthat the principals 1
of Borrower and its affiliates have not been convicted of, or pleaded nolo contendre to, a sex offense against a minor (as such
terms are defined in sectio11 111 nf the Sex Offender Registration and Notification Act (42 U.5.C. 16911 )J.

Legal Name of Loan Recipient:

COLORADO STATE REPUBLICAN CENTRAL COMMITIEf

By:

Authot~ed Signature

Name:

()

Tirle:

Date:

RYAN R CALL

STATE CHAIRMAN

0
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n1e rerm "principals" is dej)ned os follows: if a sole proprietorship, tile proprietor; if o porrnership, each managing partner and
eod> partner who is a nowral person and holds a 20% or more ownership interest in the partnership; and if o corporation, limited
Hability company, oisociation or a developmept company, each director, each of the five most highly compensated executives or
officers uf rile entity, and each natural person'wha is a direct or indirect holder of 20% or mare
of 1he ownership stotk or stock equivalent of the enrity.

JI.I a

IQ

b er

FDIC

09/2011

RESOLUTION CONCERN!NG BORROWING AUTHORITY

After due deliberation and following review of the year-to-date financials of the
Colorado Republican State Central Committee, and in accordance with the Bylaws
and other governing documents of the Colorado Republican State Central
Committee, the following resolution was unanimously approved at the meeting of
the Executive Committee on Friday, December 19, 2014 at the headquarters of the
Colorado Republican Party:

RESOLVED:

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0

1
5
0
7
2
2

8
0
8
1
2
7

1. The Executive Committee of the Colorado Republican State Central

Committ~e recommends and authorizes the State Chairman to incur
obligations on behalf of the Colorado Republican State Central Committee in
the form of a line of credit and/or commercial loan in an amount not to
exceed two hundred fif\:y thous;rnd dollars ($250,000.00).

IN WITNESS WHEREOF, the uride.rsigned officer of the Colorado Republican State

Central Committee has signed his name as of the date below.

Attest:

Rya1 . Call, State Chairman

Colorado Republican State Central Committee

Date

0.5 LBS LTR 1 OF 1

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(801) 307-4427
THE UPS STORE ~5683
32 WEST 200 SOUTH
SALT LAKE CITY . UT 84101

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DATE: 20 JUL 2015

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Federal Election Commission

ENVELOPE REPLACEMENT PAGE FOR INCOMING DOCUMENTS
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