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C150137 Contract
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C150137 Contract
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Last modified
3/7/2013 2:27:17 PM
Creation date
3/26/2007 10:40:06 PM
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Loan Projects
Contract/PO #
C150137
Contractor Name
Lake Meredith Reservoir Company, The
Contract Type
Loan
Water District
17
County
Crowley
Loan Projects - Doc Type
Contract Documents
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<br />BORROWER: LAKE MEREDITH RESERVOIR CO. <br />Contract No. C150137 <br />Loan Amount $990,100 <br />1 % Loan Service Fee $9,900 <br />Total Loan Amount $1,000,000 <br /> <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number: 03 PDA IJO()Clc; <br /> <br />LOAN CONTRACT <br /> <br />THIS CONTRACT, made this May 1, 2003, is by and between the State of Colorado for <br />the use and benefit of The Department of Natural Resources, eolorado Water <br />Conservation Board ("CWCB" and/or "STATE"), and The Lake Meredith Reservoir <br />Company, P. O. box 8, Ordway, CO 81063-0008, a Colorado nonprofit corporation, <br />("BORROWER" and/or "CONTRACTOR"). <br /> <br />FACTUAL RECITALS <br /> <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. C150137, Fund Number 424, Appropriation Code MC3, Organization YYYV, GBL <br />L137, Program WTRe, Object eode 5881, Reporting Category 0137. <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), the PROJECT Description (Section 2), eWCB'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 eWCB now desires, by this contract, to loan money to the BORROWER for this <br />PROJECT 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 eWCB to the BORROWER and (2) a service fee of <br />one percent (1 %) of the amount of the funds loaned. In the event thatthe BORROWER <br />does not use the full loan amountauthorized, the parties shall amend this contract to <br />revise the LOAN AMOUNT and to adjust the service fee to reflect 1 % of the actual loan <br />amount disbursed to the BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br />shall be assessed fees for amending this contract. <br />a. A service fee shall be imposed on the BORROWER for amendments processed for <br />the benefit of the BORROWER and necessary for the BORROWER'S course of <br />business, including, but not limited to, a change in borrower name (novation), <br />assignment of contract, substitution of collateral, loan payment deferments in <br /> <br />Page 1 of 9 <br />
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