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�A <br />BORROWER: PARKER WATER AND <br />SANITATION DISTRICT ENTERPRISE <br />Contract No. C150090 <br />Loan Amount $15,000,000 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 03 PDA Q�S 7 <br />LOAN CONTRACT <br />THIS CONTRACT made this November 14, 2002, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board (" STATE " or "CWCB"), and the Parker Water and Sanitation District, <br />acting by and through its Water Activity Enterprise and its Sanitary Sewer Activity <br />Enterprise, 19801 E. Mainstreet, Parker, CO 80138 (" BORROWER " or " CONTRACTOR "). <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 as follow: Contract Encumbrance <br />No. C150090, Fund Number 424, Organization YYYY, Appropriation Code S02, GBL <br />P090, Program WTRC, Object Code 5560, Reporting Category 0090. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO,IECT Summary attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) the PROJECT Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which defines 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 fOf 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. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an <br />a1710UC1t tlOt t0 eXCGed th@ LOAN AMOUNT BCId th@ BORROWER agf@@S t0 Cepay th@ IOall Itl <br />accordance with the terms as set forth in the Promissory Note, in the form attached <br />hereto as Appendix 2 and incorporated herein. The attached Promissory Note shall <br />identify the LoaN AnnouNT. If the amount of loan funds disbursed by the CWCB to the <br />BORROWER dlfFe�S fl'OC11 the LOAN AMOUNT the Parties agree to amend this contract to <br />revise the LoaN AMOUtvT. <br />2. The promissory note attached to the contract is issued and delivered pursuant to <br />portions of Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, <br />C.R.S. (the "Supplemental Act"). Pursuant to Section 11-57-210 of the Suppfemental <br />Act, such recital shall be conclusive evidence of the validity and the regularity of the <br />issuance of this promissory note after its delivery for value. <br />3. Interest Prior to PRO�ECT Completion. As the loan funds are disbursed by the CWCB <br />t0 the BORROWER interest shall accrue at the rate of 4.50%. The CWCB shall calculate <br />Page 1 of 10 <br />