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Exhibit 10.2
Execution Copy
SECOND AMENDMENT TO REIMBURSEMENT
AND CREDIT AGREEMENT
This SECOND AMENDMENT TO
REIMBURSEMENT AND CREDIT AGREEMENT (the " Second
Amendment ") is made and entered into this 23rd day of August,
2007 by and between THE CONNECTICUT WATER COMPANY, a
corporation duly organized and existing under the laws of the State
of Connecticut with an office at 93 West Main Street, Clinton,
Connecticut 06413 (the " Borrower "), and CITIZENS BANK
OF RHODE ISLAND, with an office at One Citizens Plaza,
Providence, Rhode Island 02903, (the " Bank ").
WITNESSETH:
WHEREAS, the Connecticut Development Authority
issued and sold $5,000,000 Water Facilities Refunding Revenue Bonds
(The Connecticut Water Company Project-2004A Series (the
“Bonds”) and loaned funds to the Borrower pursuant to
the terms of the Indenture;
WHEREAS, the Borrower and the Bank entered into
a Reimbursement and Credit Agreement, dated as of August 1, 2004,
to provide for an irrevocable direct pay letter of credit to be
issued by the Bank for the account of the Borrower to secure the
Bonds, as amended by a First Amendment to Reimbursement and Credit
Agreement dated April 28, 2006 by and between the Borrower and the
Bank (collectively, the
“Agreement”). Capitalized terms used in this
Second Amendment and not otherwise defined herein shall have the
meanings ascribed thereto in the Agreement;
WHEREAS, the Borrower wishes to increase the
amount of the Borrower&r
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