LPPD000293

• Contract/PO #: C150211
• Contractor Name: Highland Ditch Company
• Contract Type: Loan
• Water District: 5
• County: Boulder
• County: Weld
• Loan Projects - Doc Type: Contract Documents

Project Summary - Highland Ditch Company - Contract No. C150211

SECTION 1 -BORROWER INFORMATION
Name: HIGHLAND DITCH COMPANY
Address: 4309 State Highway 66, Longmont, CO 80504
Federal Identification No.: 84-0226700
Contact: Jill Baty, Office Manager
Phone Number: [phone] Fax Number: [phone]
E-mail address:[e-mail]
Type of Entity: a Colorado nonprofit corporation

Section 2 - Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used for the continuation of the repairs needed for the Foothills Reservoir, located
in Boulder County, hereinafter referred to as the PROJECT, at an estimated total
cost of $600,000.
B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility Study for Foothills Reservoir Dam Repair," dated
September 2005, compiled by Duane Smith of Smith Geotechnical, 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 TrustFund Perpetual 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.RS., 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.RS., 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 AND LEGISLATIVE AUTHORIZATION (IF NEEDED)

At its November 16, 2005 meeting, the CWCB approved a loan from the Severance Tax
Trust Fund Perpetual Base Account to the BORROWER in an amount up to $545,400 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 2.25% per annum for a
repayment term of 20 years.

SECTION 5 - SCHEDULE OF EXISTING DEBT

The BORROWER has a loan from First MainStreet Bank, N.A. in the principal amount of
$450,310 dated September 16, 2005, with a maturity date of February 1, 2006. The
BORROWER will use a portion of this loan to repay said loan from First MainStreet Bank,
N.A.

Appendix 1 to Loan Contract C150211
Page 1 of 4