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<br />PROJECT SUMMARY <br />THE NORTH POUDRE IRRIGATION COMPANY - LOAN CONTRACT C150013 - OCTOBER 1, 2001 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: The North Poudre Irrigation Company <br />Address: P. O. Box 100 <br />Wellington, CO 80549 <br />Phone Number: 970-568-3612 <br />Type of Entity: Colorado nonprofit corporation <br />Section 2 - Project Description <br />A. DESCRIPTION OF PROJECT. The CWCB loan will cover work on four of the <br />company'sfacilities, all located in Larimer County, Colorado. (1) Reservoir No. <br />4 - relocate the spillway, replace the outlet works, fill low areas, new toe drain, <br />reshape dam face and replace rip rap, (2) Reservoir No. 5 - enlarge existing <br />spillway, raise area near east abutment, and purchase easements, (3) Indian <br />Creek Reservoir - enlarge spillway, replace outlet works, reduce downstream <br />slope of dam, and new toe drains, and (4) Reservoir No.6 Outlet Ditch - install <br />1,300 feet of reinforced concrete pipe in ditch alignment and provide <br />underdrain. <br /> <br />B. DESCRIPTION OF FEASIBILITY STUDY. Feasibility study conducted by Smith <br />Geotechnical. Feasibility of project approved by staff on March 12, 1999. <br /> <br />SECTION 3 - COLLATERAL <br /> <br />Collateral. Part of the security provided for this loan, as evidenced by the <br />executed Deed of Trust attached as Appendix 5 and incorporated herein, shall <br />be an undivided one hundred percent (100%) interest in Fossil ereek Dam and <br />Reservoir located in Sections 10 and 15, Township 6 North, Range 68 West, PM, <br />as more thoroughly described on Attachment 1 hereto, collectively or hereinafter <br />referred to as the "Property." <br /> <br />SECTION 4 - TIME FOR PERFORMANCE <br /> <br />Project Beginning: Upon effective date of this contract <br />Project Finish: Two (2) years from date of this contract <br /> <br />SECTION 5 - DISBURSEMENT SCHEDULE <br /> <br />After receipt of the periodic progress report from the BORROWER in accordance with <br />Paragraph B.6 and review and acceptance of the items therein as eligible expenses as <br />described in Paragraph B.2, the CWCB will pay to the BORROWER the amount set forth in <br />the report or such portion that has been approved by the CWCB. Such payment shall be <br />made within thirty (30) days from the CWCB's approval of each progress report. <br /> <br />Appendix 1 to Loan Contract C150013 <br />