C150186 Contract

• Contract/PO #: C150186
• Contractor Name: Lower Bauer West Lateral, Inc.
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

Project Summary - Lower Bauer West Lateral, Inc - Contract No. C150186

SECTION 1 -BORROWER INFORMATION
Name: Lower Bauer West Lateral, Inc
Address: P. O. Box 308, Mancos, Colorado 81328
Federal Identification No.: a - ,.;J t/9J tf'~8
Contact: Dean Wolcott, President
Phone Number: 970-533-7107
E-mail address:[e-mail]
Type of Entity: a Colorado nonprofit corporation
SECTION 2 - PROJECT DESCRIPTION
Description of PROJECT: The BORROWER applied to the CWCB for a loan to be used
for installation of pipeline in the existing ditch corridor for the Lower Bauer Reservoir
Outlet Pipeline Extensions Project, located in Montezuma County, hereinafter
referred to as the PROJECT, at an estimated total cost of $253,500.
Description of Feasibility Study: The CWCB has reviewed a feasibility study report on
the PROJECT entitled "The Lower Bauer Reservoir Outlet Pipeline Extensions," dated
August 19, 2004 and prepared by the BORROWER and the NRCS, which is incorporated
herein by reference, and, based upon the feasibility report, the CWCB determined the
PROJECT to be technically and financially feasible.
SECTION 3 - CWeB's AUTHORITY
Small Proiect Loan: This loan is made pursuant to the provisions of 9937-60-119 and
37-60-120, C.R.S., which authorizes the CWCB to loan money for water projects for the
benefit of the people of the State, provided that the borrower assures repayment of that
money.
Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly
SECTION 4 - BOARD ApPROVAL AND LEGISLATIVE AUTHORIZATION (IF NEEDED)
At its September 2004 meeting, the CWCB approved a Small Project Loan from the
Construction Severance Tax Trust Fund Perpetual Base Account to the BORROWER in an
amount up to $195,000 for PROJECT costs plus $1,950 for the 1 % loan service charge for a
total loan amount of $196,950, with repayment terms of 2.50% per annum for 30 years.
SECTION 5 - SCHEDULE OF EXISTING DEBT
No existing debt
SECTION 6 - COLLATERAL
The collateral provided for this loan, as evidenced by the executed Deed of Trust, in
the form attached as Appendix 5 and incorporated herein, shall be an undivided one
hundred percent interest in any rights that the BORROWER holds in the PROJECT
consisting of approximately 15,550 feet of pipeline (installed in two laterals) and the
associated access easement rights as more particularly described in the attached
Deed of Trust ("Collateral").

Appendix 1 to Loan Contract C150186