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<br />Project Summary - Guenzi - Contract No. C150174 <br /> <br />SECTION 1 -BORROWER INFORMATION <br />Name: Kenneth Guenzi, David Guenzi, and John Guenzi <br />Address: 916 Fairhurst, Sterling, Colorado 80751 <br />Federal Identification No.: 84-1186747 <br />Contact: David Guenzi <br />Phone Number: 970-520-0077 (John's cell), 970-522-1404 (John) <br />Fax Number: 970-522-2697 <br />E-mail address: laura@kcLnet <br />Type of Entity: Colorado individuals, jointly and severally liable for repayment <br />of this loan <br />SECTION 2 - PROJECT DESCRIPTION <br />Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used <br />for purchase of an existing well augmentation recharge project and to construct <br />additional ground water recharge facilities, located in Logan County, hereinafter <br />referred to as the PROJECT, at an estimated total cost of $368,250. <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PROJECT entitled "Feasibility of Construction of the Ken, Dave & John Guenzi <br />Study," dated April 2004, compiled by Brent M. Nation, P.E., which is incorporated <br />herein by reference, and, based upon the feasibility report, the CWCB determined the <br />PROJECT to be teehnicaHy amHinanciaHy feasible. <br />SECTION 3 - CWCB's AUTHORITY <br />Small Proiect Loan: This loan is made pursuant to the provisions of SS 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 May 2004 meeting, the CWCB approved a loan from the Severance Tax Trust Fund <br />Perpetual Base Account to the BORROWER in the total amount up to $334,739 ($331,425 for <br />PROJECT costs and $3,314 for the 1 % loan service charge) with repayment terms of 2.50% <br />per annum for 30 years. <br />SECTION 5 - SCHEDULE OF EXISTING DEBT <br />The BORROWER has a loan from Premier Farm Credit of Sterling, Colorado, 970-522- <br />2330 (PFC) and has pledged its Hettinger Farm property as collateral for the loan. PFC <br />has agreed to subordinate its position to the CWCBso that the CWCB has first position <br />on the Hettinger land and the rights to the associated water recharge credits generated <br />by the Farmers Pawnee Canal Company. <br /> <br />Appendix 1 to Loan Contract C150174 <br />