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BORROWER: 3T CATTLE COMPANY Agency Name: Water Conservation Board / <br />Contract No. C150175 Agency Number PDA !.. <br />Project Amount $229,500 Routing Number 05 PDA �o�/ % <br />Loan Service Fee $2,295 <br />Loan Amount $231,795 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003) <br />THIS CONTRACT made this August 1, 2004, is by and between the State of Colorado <br />for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or " STATE "), and 3T Cattle Company, Inc., P. O. Box 88, Fort <br />Morgan, Colorado 80701, a Colorado corporation (" BORROWER "). <br />FACTUAL RECITALS <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />encumbering and subsequent payment of this contract under: Contract Encumbrance <br />No. C150175, Fund Number 424, Appropriation Code MS4, Organization YYYY, GBL <br />T175, Program WTRC, Object Code 5882, Reporting Category 0175. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PROJECT Summary attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) th@ PROJECT Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which identifies the amount of the loan and the terms of repayment <br />(Section 4). <br />4. The CWCB now desires, by this contract, to loan money to the BORROWER f01" thlS <br />PRO�ECT upon mutually agreeable terms and conditions. <br />THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISIONS <br />1. Loan Service Fee. The amount of the loan (LOAN AMOUNT� Shall include (1) the <br />amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECr and (2) <br />a service fee of one percent (1 %) of the PRO�ECT amount. In the event that the <br />BoRROwER does not use the LoaN AnnoutvT authorized, the parties shall amend this <br />contract to revise the LoaN AMOUNT including adjustment of the service fee to reflect <br />1% Of the aCtUal LOAN AMOUNT dlSbUl'S2d t0 the BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances th2 BORROWER <br />shall be assessed a fee for amending the contract. <br />a. A service fee shall be imposed on the BoRROwER for amendments processed for <br />Page 1 of 10 <br />