EXHIBIT 10.27
GUARANTY AGREEMENT
Dated as of February 23, 2001
of
CONNECTICUT WATER SERVICE, INC.
Re: $2,000,000 10.2% Senior Notes
of
Barnstable Water Company
TABLE OF CONTENTS
1
GUARANTY AGREEMENT
AGREEMENT dated as of February 23, 2001 by Connecticut Water Service, Inc., a Connecticut corporation
(the "Guarantor").
RECITALS OF THE GUARANTOR
A. The Guarantor owns 100% of the outstanding shares of common stock of Barnstable Holding Company, a
Massachusetts corporation (the "Prior Guarantor") which, in turn, owns 100% of the outstanding shares of
common stock of Barnstable Water Company, a Massachusetts corporation (the "Company").
B. The Company entered into a Note Agreement dated as of February 15, 1991 (the "Note Agreement") with
Indianapolis Life Insurance Company (the "Note Purchaser") providing for the sale by the Company of its
$2,000,000 principal amount 10.2% Senior Notes due February 15, 2011 (the "Notes").
C. Capitalized terms used but not defined herein shall have the meanings assigned in the Note Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained and to give
effect to the terms of the Consent and Waiver dated as of December 21, 2000 by Indianapolis Life Insurance
Page
SECTION 1. GUARANTEE.................................................... 1
SECTION 2. PAYMENT UPON CERTAIN EVENTS.................................. 1
SECTION 3. WAIVERS; OBLIGATION UNCONDITIONAL............................ 2
SECTION 4. COLLECTION EXPENSES.......................................... 3
SECTION 5. NO SUBROGATION UNTIL PAYMENT IN FULL......................... 3
SECTION 6. REPRESENTATIONS AND WARRANTIES............................... 3
SECTION 7. GUARANTOR COVENANTS.......................................... 3
SECTION 8. REQUIRED PURCHASE OF NOTES ON GUARANTOR CHANGE OF CONTROL.... 14
SECTION 9. DEFINITIONS.........