20040521Loan Document Update.pdf

GIVE €i)P~.s LEY
LAW OFFICES
601 W. Bannock Street
PO Box 2720, Boise, Idaho 83701
TELEPHONE: [phone]
FACSIMILE: 208 388-1300
WEBSITE: www.givenspursley.com
Gary G. Allen
Chri~opher J. Beeson
Jessica M. Borup
William C. Cole
Michael C. Creamer
Thomas E. Dvorak
Roy Lewis Eiguren
TImothy P. Feamside
Jeffrey C. Fereday
Steven J. Hippler
Kart T. Klein
Debora K. Kristensen
Anne C. Kunkel
Franklin G. Lee
MICHAEL C. CREAMER
[phone]
mcc(illGivensPursley. com
May 10, 2004
VIA HAND DELIVERY
Terri Carlock
Idaho Public Utilities Commission
472 W. Washington
O. Box 83720
Boise, TD 83720-0074.
David R. Lombardi
D. David Lorello, Jr.
Emily A. MacMaster
Kimberty D. Maloney
John M. Marshall
Kenneth R. McClure
Kelly Greene McConnell
Cynthia A. Melillo
Christopher H. Meyer
L Edward Miller
Patrick J. Miller
Judson B. Montgomery
Angela K. Nelson
Deborah E. Nelson
......
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Our File No.: 1256-32 Subject: Loan Docunlents
Dear Terri:
W. Hugh O'Riordan. LLM
Michael C. Orr
Kenneth L Pursley
Bradley V. Sneed
H. Barton Thomas. LLM
Conley E. Ward
Robert B. White
Michael V. Woodhouse
James A. McClure
OF COUNSEL
Raymond D. Givens
RETIRED
Frf\
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As we discussed last Friday, enclosed are the following loan dOCU111ents relating to
Can1bridge s loan fron1 the Rural Utilities Service:
Loan Agreement dated April I , 2004:
Promissol')! Note ($6 096,000) dated April I, 2004;
Promissory Note ($4,857 OO()) dated April/, 2()O4;
PromiSSO1)! Note ($2.643.000) dated April 1. 2004:
Promissory Note ($3 547 950) dated April J , 2()O4: and
Restated Mortgage. Securil.v Agreement and Financing Statement
The first advance under the loan \vill be used to payoff the outstanding loan froJll
CoBank (\vhich originated to tjnance Council Telephone Conlpany s purchase of the USWest
exchanges in 1996). The Conlnlission approved this pending RUS loan for a total of
$17 143 950 in its Order No. 29399. Howev~r, at that till1e, RUS had indicated there \vould be
three notes. In the package of loan docunlents forwarded to Canlbridge by RUS, there are four
notes that together total the loan an10unt approved by the Co111mission. For our firm to give our
May 10, 2004
Page 2
loan opinion, we would greatly appreciate an an1ended order that approves execution and
delivery of the four notes on the terms contained therein.
Please let me know if you or the Comn1ission \vill need any additional inforn1ation in
consideration of this request.
Sincerely,
Michael C. Crean1er
S:\CLlENTS\1256\32\MCC to T Carlock enclloan documcnts.DOC