LPPD000280

• Contract/PO #: C150144
• Contractor Name: Upper Platte and Beaver Canal Company
• Contract Type: Loan
• Water District: 1
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

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BORROWER: UPPBR PLATIE & BEAVER CANAL
Contract No. C150144
Project Amount $67,500
1 % Loan Service Fee $675
Loan Amount $68,175

Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 04 PDA (Jot; / >

LOAN CONTRACT

THIS CONTRACT, made this August 1, 2003, is by and between the State of Colorado
for the use and benefit of The Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" and/or "STATE"), and Upper Platte and Beaver Canal
Company, P.O. Box 581, Brush, Colorado 80723, a Colorado nonprofit corporation,
("BORROWER" and/or "CONTRACTOR").

FACTUAL RECITALS

1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise
made available and a sufficient unencumbered balance thereof remains available for
encumbering and subsequent payment of this contract under: Contract Encumbrance No.
C150144, Fund Number 424, Appropriation Code MC3, Organization YYYY, GBL U144,
Program WTRC, Object Code 5881, Reporting Category 0144.

2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.

3. The PROJECT Summary, attached as Appendix 1 and incorporated herein, contains
BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's authority
for making this loan (Section 3), and CWCB Approval and Legislative Authorization which
defines the amount of the loan and the terms of repayment (Section 4).

4. The CWCB now desires, by this contract, to loan money to the BORROWER for this PROJECT
upon mutually agreeable terms and conditions.

THEREFORE, in consideration of the mutual and dependent covenants contained herein,
the parties agree as follows:

A. LOAN PROVISIONS

1. loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the amount of
the funds loaned by the CWCB to the BORROWER and (2) a service fee of one percent
(1 %) of the amount of the funds loaned. In the event that the BORROWER does not use
the full loan amount authorized, the parties shall amend this contract to revise the LOAN
AMOUNT and to adjust the service fee to reflect 1 % of the actual loan amount disbursed to
the BORROWER.

2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER shall
be assessed fees for amending this contract.

a. A service fee shall be imposed on the BORROWER for amendments processed for the
benefit of the BORROWER and necessary for the BORROWER'S course of business,
including, but not limited to, a change in borrower name (novation), assignment of
contract, substitution of collateral, loan payment deferments in excess of 3 per loan,
and loan consolidation. Amendments in the course of CWCB business, including, but
not limited to, loan payment deferments (up to 3 per loan) and changes in terms of
loan rep.ayment will be processed at no additional charge to the borrower.

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