PROJ01889

• Contract/PO #: C150130
• Contractor Name: South Side Reservoir Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

BORROWER: SOUTH SIDE RESERVOlR COMPANY Agency Name: Water Conservation Board
Contract No. C150130 Agency Number PDA
Loan Amount $360,000 Routing Number: 03 PDA 6�70�75
1 % Loan Service Fee $3,600
LOAN CONTRACT
THIS CONTRACT made this March 1, 2003, is by and between the State of Colorado
for the use and benefit of The Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" and/or " STATE "}, and South Side Reservoir Company, 1612
W 1 Street, Loveland Colorado 80537, a Colorado nonprofit corporation, {" BORROWER "
and/or " CONTRACTOR ").
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise
made available and a sufficient unencumbered balance thereofi remains available for
encumbering and subsequent payment of this contract under: Contract Encumbrance
No. C150130, Fund Number 424, Appropriation Code MC3, Organization YYYY, GBL
S130, Program WTRC, Object Code 5881, Reporting Category 0130.
2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
3. The PRO�ecr Summary, attached as Appendix 1 and incorporated herein, contains
BORROWER Information (Section 1) the PROJECT Description (Section 2), CWCB's
authority for making this loan (Section 3), and CWCB Approval and Legislafive
Authorization which defines the amount of the loan and the terms of repayment
(Section 4).
4. The CWCB now desires, by this contract, to loan money to the BoRROwER for this
PRO�ECT upon mutually agreeable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:
A. LOAN PROVISfONS
1. Loan Service Fee. The amount of tfie loan (LOAN AMOUNT� Shall include {1) the
amount of the funds loaned by the CWCB to the BoRROwER and (2) a service fee of
one percent (1 %) of the amount of the funds loaned. In the event that the BoRROwER
does not use the fuA loan amount authorized, the parties shall amend this contract to
revise the Loatv Annoutvr and to adjust the service fee to reflect 1% of the actual Ioan
amount disbursed to #he BoRROwER.
2. Contract Amendment Service Fees. Under certain circumstances the BORROWER
shall be assessed fees for amending this contract.
a. A service fee shall be imposed on the BoRROwER for amendments processed for
the benefit of the BORROWER and necessary for th2 BORROWER course of
business, including, but not limited to, a change in borrower name (novation),
assignment of contract, substitution of collateral, loan payment deferments in
excess of 3 per loan, and loan consolidation. Amendments in the course of
CWCB business, including, but not limited to, loan payment deferments (up to 3
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