EXHIBIT 4.20
REA Project Designation:
SOUTH DAKOTA 515-D XXXXX
AMENDMENT
Dated as of March 8, 1961
to
TELEPHONE
LOAN CONTRACT
Dated as of September 5, 1952, as amended,
between
DAKOTA COOPERATIVE TELEPHONE COMPANY, INC.
and
UNITED STATES OF AMERICA
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL ELECTRIFICATION ADMINISTRATION
No. 2
AGREEMENT, made as of March 8, 1961, pursuant to the
Rural Electrification Act of 1936, as amended (7 U.S.C. 901
ET SEQ.) between DAKOTA COOPERATIVE TELEPHONE COMPANY, INC.
(hereinafter called the "Borrower"), a corporation existing
under the laws of the State of South Dakota, 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 September 5, 1952, and
two certain agreements, dated, respectively, as of August 11, 1955, and as
of October 9, 1958, amending said telephone loan contract (said telephone
loan contract, as so amended, being hereinafter called the "Loan
Contract"), 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 $210,000, 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 $2,140,000,
which, together with the sum of $80,465 (hereinafter called the
"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 a
total of approximately 3,783 subscribers, and to be located in the
Counties of Clay, Hutchinson, Lincoln, McCook, Xxxxxx and Yankton, and
in counties contiguous thereto, all in the State of South Dakota.
SEC. 2. The second sentence of section 1.2 of article I of the
Loan Contract is amended to read as follows:
The Notes shall bear interest at the rate of two (2) per
centum per annum, and shall otherwise be in form and substance
satisfactory to the Administrator.
SEC. 3. Article II of the Loan Contract is amended by adding
thereto a new section numbered and reading as follows:
SEC. 2.10. ADDITIONAL PREREQUISITES TO CERTAIN ADVANCES.
The Government shall be under no obligation to advance any of the
$210,000 (hereinafter called the "D loan"), included in the Loan by an
agreement made by and between the Borrower and the Government, dated
as of March 8, 1961, until the Borrower in addition to complying with
all other prerequisites of this agreement to the advance of loan
funds, shall have submitted evidence, satisfactory to the
Administrator, in respect of the D loan, showing that it has:
(1) obtained all authorizations, certificates, permits and
approvals from regulatory bodies, as may be required by law;
(2) duly executed, recorded, filed and indexed a supplemental
mortgage, in form and substance satisfactory to the
Administrator; and
(3) obtained a commitment covering any extended area service to
be provided for or by, connecting or other companies.
SEC. 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.
DAKOTA COOPERATIVE TELEPHONE
COMPANY, INC.
by /s/ B. Xxxxxxx Xxxxxxxxxxx
President
(Seal)
Attest: /s/ X.X. Xxxxxxxxxx
Secretary
-0-
XXXXXX XXXXXX XX XXXXXXX
by /s/ Xxxxxxx X. Dell
Acting Administrator
of
Rural Electrification Administration
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