REA Project Designation
TENNESSEE 521-F DEKALB
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AMENDMENT
Dated as of November 9, 1959
to
TELEPHONE LOAN CONTRACT
Dated as of October 15, 1951, as amended,
between
DEKALB TELEPHONE COOPERATIVE
and
UNITED STATES OF AMERICA
Identified as form of document presented to and
approved by the board of directors trustees of
the above named corporation at a meeting held
December 7, 1959.
/s/ Xxxx Xxxx
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Secretary of Meeting
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL ELECTRIFICATION ADMINISTRATION
NO. A
AGREEMENT, made as of November 9, 1959, pursuant to the
Rural Electrification Act of 1936, as amended (7 U.S.C. 901
et seq.) between DEKALB TELEPHONE COOPERATIVE (hereinafter
called the "Borrower"), a corporation existing under the
laws of the State of Tennessee, and UNITED STATES OF AMERICA
(hereinafter called the "Government") acting through the
Administrator of the Rural Electrification Administration
WHEREAS, the Government and the Borrower have heretofore entered into
a certain telephone loan contract, dated as of October 15, 1951, and four
certain amendments thereto, dated, respectively, as of March 9, 1953, as of
February 15, 1954, as of November 15, 1954, and as of November 15, 1957 (said
telephone loan contract, as so amended, being hereinafter called the "Loan
Contract"), providing for the lending by the Government and the borrowing by
the borrower of an amount not in excess of $2,180,000, to finance, partially,
the construction and operation of a telephone system, and intend by this
agreement to amend the Loan Contract by increasing the aggregate amount of
the loans therein provided for by an amount not in excess of $299,000, and in
certain other respects; and
WHEREAS, the parties also desire, in order to avoid possible
misinterpretation, to confirm their original intention that interest payable
on all notes executed pursuant to the Loan Contract, as amended from time to
time, shall be at the rate of two (2) per centum per annum, the rate
presently provided for under the Rural Electrification Act of 1936, as
amended;
NOW, THEREFORE, for and in consideration of the mutual agreements
herein contained, the Government and the Borrower agree as follows:
SECTION 1. Section 1.1 of article I of the Loan Contract is amended
to read as follows:
SECTION 1.1 Amount and Purpose. For the purpose of
furnishing telephone service in rural areas, the Government
shall lend and the Borrower shall borrow an amount not in
excess of $2,479,000 which together with the sum of $57,983
of equity funds to be deposited by the Borrower in the "Special
Construction Account" hereinafter defined and provided for in
section 2.4, shall be used to finance, pursuant to the provisions
of the Act, the acquisition, construction and operation of
telephone lines and facilities (hereinafter called the "Project")
to serve approximately 4,338 subscribers and to be located in the
Counties of Xxxxxx, DeKalb, Xxxxxxxxxx, Xxxxx and Xxxxxx, and in
counties contiguous thereto, all in the state of Tennessee.
SECTION 2. The second sentence of section 1.2 article I of the Loan
Contract is amended to read as follows:
The Notes shall bear interest at the rate
of (2) per centum per annum, and shall
otherwise be in form and substance
satisfactory to the Administrator.
SECTION 3. Section 2.1 of article II of the Loan Contract is amended
by adding thereto a new subsection lettered and reading as follows:
(F) Prerequisites to Advances on Account of
Additional Loan of $299,000. Notwithstanding anything in
this agreement, the Government shall be under no obligation
to advance any portion of the increase of $299,000 in the
amount of the loan provided for in the agreement, dated as
November 9, 1959, made by and between the Borrower and the
Government unless and until the Borrower shall have
submitted evidence, satisfactory to the Administrator, that
it has executed, recorded and indexed an additional
supplemental mortgage, in form and substance satisfactory to
the Administrator.
SECTION 4. This agreement may be simultaneously executed and
delivered in two or more counterparts, each of which so executed and
delivered shall be deemed to be an original, and all shall constitute but one
and the same instrument.
IN WITNESS WHEREOF the Borrower has caused this Agreement to be
signed in its corporate name and its corporate seal to be hereunto affixed
and attested by its officers thereunto duly authorized, and the Government
has caused this agreement to be duly executed, all as of the day and year
first above written.
DEKALB TELEPHONE COOPERATIVE
BY /s/ X. Xxxx
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President
(SEAL)
ATTEST: /s/ Xxxx Xxxx
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Secretary
UNITED STATES OF AMERICA
BY_________________________________
Administrator
of
Rural Electrification Administration
