LPPD000440

• Contract/PO #: C150170
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Loan Projects - Doc Type: Feasibility Study

T bl 1 NPIC M' , L k R h bTtaf p' t C t Eft

a e. mers a e e a II Ion rOJec . os sima e.
Item Quantitv Units Unit Price Amount
Surveying 1 Job $ 21,000 $ 21,000
Geotechnicallnvestiaation and Testina 1 Job $ 21,000 $ 21,000
Outlet Works 1 Job $ 125,000 $ 125,000
Spillway 1 Job $ 20,000 $ 20,000
Earthwork 21000 C.Y. $ 7 $ 136,500
Riprap 3200 Ton $ 30 $ 96,000
EnlarQement 50000 C.Y. $ 2 $ 100,000
Drains and Filters 800 L.F. $ 20 $ 16,000
Inlet Ditch Repairs 1 L.S. $ 60,000 $ 60,000
Engineering, Legal, Contingencies 1 Job $ 164,500 $ 164,500

Total $ 760,000

Implementation Schedule

The final design is expected to be completed by July of 2004. The reservoir will
be drained after the 2004 irrigation season and allowed to dry. Construction will
begin in June of 2005 and be completed by October 2005.

Permitting

NPIC is in the process of obtaining easements for flood and spillway rights of
way. The company expects to be exempt from 404 permitting by Statutory
exemption, 33 CFR Section 323.4(a)3. This will be confirmed with the Army
Corps of Engineers.

Institutional Considerations

Entities that are, or may be, involved in the design, construction, and financing of
the project include:

North Poudre Irrigation Company; financing and project management.
Ronald H. Slosson, P.E; design and construction.
Colorado Water Conservation Board; financing and construction

NPIC will be the lead for the financing, design, and construction of the project
and will be the entity entering into contracts and agreements with the various
entities for the services provide by each.

Financial Analysis

NPIC is applying for a loan from the CWCB in maximum amount of $608,000 to
accommodate 80% of the estimated $760,000 total cost of the project. NPIC will
pay the additional 20% of the project cost through fees assessed to the
stockholders.

-4-