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<br />ST ATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Water Supply Planning & Finance Section <br />1580 Logan Street, Suite 750 <br />Denver, Colorado 80203 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Russell George <br />Executive Director <br /> <br />TO: <br /> <br />Mike Serlet, Chief <br />Water Supply and Finance Section <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Linda Bassi, Scientist <br />Stream and Lake Protection <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />Chad Henderson GfI1 <br />Acting Contract Manager <br />Water Supply and Finance Section <br /> <br />DATE: <br /> <br />December 15,2004 <br /> <br />SUBJECT: Smart Brothers, Inc. <br />Loan Contract No. C150177 <br /> <br />The enclosed loan is ready for your signatures. The applicant would dearly like to have <br />this loan funded by January 1, 2005. <br /> <br />This is a loan for a recharge project, and the CWCB approval for this loan did not <br />include the usual collateral of pledged assessment revenues, but rather sought as <br />collateral two items of real property, a 158 acre parcel and a portion of augmentation <br />water benefits associated with the parcel. <br /> <br />Accordingly, to satisfy the CWCB's conditions of approval, the following revisions were <br />made to the standard corporate contract: <br /> <br />1. Loan Contract: Paragraph A8 modified to remove references to assessment <br />revenues and insert references to pledged property. Former section A8(b) is also <br />renumbered as paragraph 9 because it is not proper to have a single (a) paragraph <br />without a (b) paragraph, hence the remaining paragraphs in the Loan Contract are <br />renumbered. <br />