LPPD000240

• Contract/PO #: C150177
• Contractor Name: Smart Brothers, Inc.
• Contract Type: Loan
• Water District: 64
• County: Logan
• Loan Projects - Doc Type: Contract Documents

Project Summary - Smart Brothers - Contract No. C150177

SECTION 1 -BORROWER INFORMATION
NAME: Smart Brothers, Inc.
Address: 3254 County Road 31, Atwood, Colorado 80722
Federal Identification No.: 84-1081336
Carson Smart, Secretary/Treasurer
Phone Number: [phone] Fax Number: [phone]
E-mail address: none
Type of Entity: a Colorado corporation
Section 2 - Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used to enhance and expand an existing groundwater recharge project for well
augmentation, located in Logan County, hereinafter referred to as the PROJECT, at
an estimated total cost of $266,500.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility of Construction of the Smart Bros. Inc.
Augmentation Project," dated June 2004, compiled by Brent M. Nation, P.E., which
is incorporated herein by reference, and, based upon the feasibility report, the
CWCB determined the PROJECT to be technically and financially feasible.
SECTION 3 - CWCB's AUTHORITY
Severance Tax Trust Fund PerIJetual Base Account: This loan is made pursuant to
the provisions of 99 39-29-109(1 )(a)(I), 37-60-119 and 37-60-120, C.R.S., which
authorize the CWCB to loan money for water projects from the CWCB Severance Tax
Trust Fund Perpetual Base Account for the benefit of the people of the state, provided
that the borrower assures repayment of that money.

Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly

SECTION 4 - BOARD APPROVAL

At its July 21, 2004, the CWCB approved a loan from the Severance Tax Trust Fund
Perpetual Base Account to the BORROWER in an amount up to $230,693 for PROJECT costs,
not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1 % in
accordance with CWCB Policy No. 16, at an interest rate of 2.50% per annum for a
repayment term of 30 years.

SECTION 5 - SCHEDULE OF EXISTING DEBT

No existing debt.

SECTION 6 - COLLATERAL

The collateral provided for this loan, as evidenced by the executed Deed of Trust, in

Appendix 1 to Loan Contract C15XC150177