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PROJECT SUMMARY-STROMBERGER LAND & CATTLE-CONTRACT No. C150123 SECTION 1 -BORROWER INFORMATION Name: Stromberger Land and Cattle Company Address: 14063 Summit Drive Sterling, CO 80751 Brad Strom berger, Manager/Operator 970-522-8169 Contact: Phone Number: Email: Type of Entity: stromber@kcLnet Colorado limited liability company, owned by four members of the Stromberger family, each member having an equal share in the company. SECTION 2 - PROJECT DESCRIPTION Description of PROJECT: The BORROWER is a private family farm located in Logan County. The farm consists of approximately 1923 acres farm ground, irrigated with 12 tributary groundwater wells that were drilled in the late 1960's and early 1970's and pump on average 5000 acre-feet annually, The 12 wells .are currently augmented under the Groundwater Appropriators of the South Platte (GASP) plan of operation. The BORROWER is completely dependent on their 12 wells, which have very junior water rights and using GASP to replace depletions from well pumping when there is a senior water right call on the river. The Project will consist of the construction of 6 wells to pump water into a series of recharge ponds in the winter months when there is not a call on the river. Water from the ponds would have a delayed return to the river in summer months when the BORROWER has depletions that need to be offset with augmentation water. The wells, drilled near the South Platte River, would pump a combined rate of up to 35cfs producing approximately 6500 acre-feet annually to the recharge ponds through underground piping. A single well drilled away from the river would be constructed for augmentation, and use the piping to return stored water to the river when necessary ("PROJECT") at a total cost of approximately $460,000. Description of Feasibility Study: The CWCB assisted in the preparation of a feasibility study report entitled Feasibility of Construction of the stromberger Land & Cattle Company Recharge Project dated October 2002, incorporated herein by reference, and has reviewed said report. Based upon the report, the CWCB determined the PROJECT to be technically and financially feasible. SECTION 3 - CWCB's AUTHORITY Small Proiect Loan: This loan is made pursuant to the provisions of 99 37-60-119 and 37-60-120, C.RS., which authorizes the CWCB to loan money for water projects for the benefit of the people of the State, provided that the borrower assures repayment of that money. Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to $1,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust Fund Perpetual Base Account Fund without prior approval from the General Assembly Appendix 1 to Loan Contract C150123