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<br />I <br />~ORROWER: CONSOLIDATED HOME SUPPLY <br />DITCH AND RESERVOIR COMPANY <br />Contract No. C150082 <br />Loan Amount $943,000 <br /> <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number: 03 PDA tJOOtC( <br /> <br />LOAN <br /> <br />CONTRACT <br /> <br />THIS CONTRACT, made this 1 st day of February 2002, is by and between the State of Colorado for <br />the use and benefit of The Department of Natural Resources, Colorado Water Conservation Board <br />("CWCB" and/or "STATE"), and The Consolidated Home Supply Ditch and Reservoir Company, <br />1650 West 8th Street, Loveland, CO 80537, a Colorado non-profit corporation, ("BORROWER" and/or <br />"CONTRACTOR"). <br /> <br />FACTUAL RECITALS <br /> <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made <br />available and a sufficient unencumbered balance thereof remains available for payment as <br />follows: Fund Number 485, Organization YVYY, Appropriation Code 010, GBL C082, Program <br />WTRC, Object Code 5881, Reporting Category 0082, Contract Encumbrance No. C150082 <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br /> <br />3. CWCB's authority for making this loan: Emer.aencv Infrastructure Account Pursuant to the <br />provisions of 9937-60-119 and 37-60-120, C.RS., the CWCB is authorized to loan money from <br />the CWCB's Construction Fund Emergency Infrastructure Account for water projects for the <br />benefit of the people of the State, provided that the borrower assures repayment of that money. <br /> <br />Section 37-60-122.6, C.RS., authorizes the CWCB to loan money from the Emergency <br />Infrastructure Account for projects that it determines are necessary to avoid unreasonable <br />risk of injury or damage to human health or well-being or to property or crops when the <br />CWCB also determines that the emergency condition is not the result of negligence in the <br />operation or maintenance of the infrastructure and that the viability or success of the <br />emergency project is not dependent upon further appropriations or loans. The CWCB did <br />make such determination at said meeting. <br /> <br />4. The Project Summary, attached as Appendix 1 and incorporated herein, contains BORROWER <br />Information (Section 1) and the PROJECT Description (Section 2). <br /> <br />5. Board approval and legislative authorization, if required, is included in Board Approval and <br />Legislative Authorization (Section 3) of the Project Summary. <br /> <br />6. The CWCB now desires, by this contract, to loan money to the' BORROWER for this PROJECT <br />upon mutually agreeable terms and conditions. <br /> <br />THEREFORE, in consideration of the mutual and dependent covenants contained herein, the <br />parties agree as follows: <br /> <br />A. LOAN PROVISIONS <br /> <br />1. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an <br />amount not to exceed the LOAN AMOUNT and the BORROWER agrees to repay the loan in <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 initial Promissory Note shall <br />identify the LOAN AMOUNT. If the amount of loan funds disbursed by the CWCB to the <br /> <br />Page 1 of 9 <br /> <br />Loan Contract <br />