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Project Summary — Upper SurFace Creek — Contract No. C150173 <br />SECTION 1 —BORROWER INFORMATION <br />Name: Upper SurFace Creek Domestic Water Users Association <br />Address: P. O. Box 70, Cedaredge, CO 81403 <br />Federal Identification No.: 84-0513757 <br />Contact: Dan Hawkins, Manager <br />Phone Number: 970-856-7199 Fax Number: 970-856-7189 <br />E-mail address: danhawkins@uscdwua.com <br />Type of Entity: a Colorado nonprofit corporation <br />Section 2 — Project Description <br />A. Description of PRO�ECr: The BoRROwER is a rural domestic water provider serving <br />a 40-square mile service area located in Delta County, and applied to the CWCB <br />for a loan to be used for the construction of the raw water diversion structure and <br />the raw water delivery pipe portion of a new treatment piant and raw water <br />collection system, hereinafter referred to as the PRO�ECr, at an estimated total <br />cost of $180,200. - <br />B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br />on the PRO�ECT entitled "Feasibility of the Spaulding Peak Diversion Structure and <br />Raw Water Pipeline," dated February 2004, compiled by the Leroy Btack of the Ute <br />Engineering & Surveying Company, which is incorporated herein by reference, and, <br />based upon the feasibility report, the CWCB determined the PROJECT to be <br />technically and financially feasible. <br />SECTION 3 - CWCB'S AUTHORITY <br />Small Proiect Loan: This loan is made pursuant to the provisions of §§ 37-60-119 and <br />37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects for the <br />benefit of the people of the State, provided that the borrower assures repayment of that <br />money. <br />Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br />$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust <br />Fund Perpetual Base Account Fund without prior approval from the General Assembly <br />SECTION 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED� <br />At its March 2004 meeting, the CWCB approved a Small Project Loan from the Severance <br />Tax Trust Fund Perpetual Base Account to the BoRROwER in an amount up to $162,180 for <br />PROJECT COStS plus $1,622 for the 1% loan service charge for a total loan amount of <br />$163,802, with repayment terms of 3.25% per annum for 30 years. <br />SECTION 5— SCHEDULE OF EXISTING DEBT <br />No existing debt with a lien against the BORROWER revenues senior to the CWCB <br />debt. <br />SECTION 6 - COLLATERAL <br />The collateral provided for this loan, as evidenced by the executed Deed of Trust, in <br />the form attached as Appendix 5 and incorporated herein, shall be an undivided one <br />Appendix 1 to Loan Contract C150173 <br />