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<br />THE PARTIES HERETO HAVE EXECUTED THIS CONTRACT <br /> <br />BORROWER: Buffalo Farms Water <br />Development, LLC, a Colorado limited <br />liability company <br /> <br />State of Colorado <br />Bill Owens, Governor <br /> <br />By D. ~~ Lk~ <br />D. Kevin Vollmer, Manager <br /> <br />~'~. ...,J' / ~ <br />t, ~' .?' ~'/"A <br />By ~Af~At i <br />For the Executive Director <br />Department of Natural Resources <br />Colorado Water Conservation Board <br />Rod Kuharich, Director <br /> <br />(SEAL) <br /> <br />By <br /> <br /> <br />By <br /> <br /> <br />Attest <br /> <br />ALL CONTRACTS MUST BE APPROVED BY THE STATE CONTROLLER <br /> <br />CRS 24-30-202 requires that the State Controller approve all state contracts. This <br />contract is not valid and no loan funds are available until the State Controller, or such <br />assistant as he may delegate, has signed it. <br /> <br />Leslie M. Shenefelt, State Controller <br /> <br />By ~,r(\j'r~ C ~tu~'r-f <br />Effective Date c:J .j2 05;- <br /> <br />Page 10 of 10 <br />