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BORROWER: HENRY BOLEN DITCH C0. Agency Name: Water Conservation Board <br />Contract No. C150179 Agency Number PDA <br />Project Amount $515,000 Routing Number 05 PDA 00034 <br />Loan Service Fee $5,150 <br />Loan Amount $520,150 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #1.60 - APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT made this October 20, 2004, is by and between the State of <br />Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or " STATE "), and Henry Bolen Ditch Company, a Colorado <br />nonprofit corporation, P. O. Box 308, Mancos, Colorado 81328 (" BORROWER "). <br />FACTUAL RECITALS <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />encumbering and subsequent payment of this contract under: Contract Encumbrance <br />No. C150179, Fund Number 424, Appropriation Code MS5, Organization YYYY, GBL <br />H 179, Program WTRC, Object Code 5882, Reporting Category 0179. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO�ecr Summary, attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) the PROJECT Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which identifies the amount of the loan and the terms of repayment <br />(Section 4). <br />4. The CWCB now desires, by this contract, to loan money to the BORROwER for this <br />PRO�ECT upon mutually agreeable terms and conditions. <br />THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISIONS <br />1. Loan Service Fee. The amount of the loan (LOAN AMOUNT� Shall include {1) the <br />amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECT and (2) <br />a service fee of one percent (1 %) of the PRO�ECT amount. In the event that the <br />BORROWER d0@S t10t US@ thE LOAN AMOUNT aUthOflZed the parties shall amend this <br />contract to revise the LoaN Annout�T including adjustment of the service fee to reflect <br />1% Of the aCtUal LOAN AMOUNT dlSbUl'S2d t0 th2 BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances the BORROWER <br />shall be assessed a fee for amending the contract. <br />a. A service fee shall be imposed on the BoRROwER for amendments processed for <br />Page 1 of 10 <br />