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BORROWER: BEAVER RESERVOIR COMPANY Agency Name: Water Conservation Board <br />Contract No. C150190 Agency Number PDA <br />Project Amount $128,500 Routing Number q(�PDA G�� <br />Loan Senrice Fee $1,285 <br />Loan Amount $129,785 <br />LOAN CONTRACT <br />(STANDARD CONTRACT- WANER#160 -APPROVED NOVEMBER 10 2003) <br />THIS CONTRACT made this June 13, 2005, is by and between the State of Colorado <br />for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB° or �STATE and Beaver Resenroir Company, P.O. Box 120, <br />Hotchkiss, CO 81419, a Colorado nonprofit corporation (`Bot�owER"). <br />FACTUAL RECtTALS <br />1. Authoriiy exists in the law, and funds have been budgeteci, 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. C150190, Fund Number 424, Appropriation Code MS5, Organization WYY, GBL <br />B19�, Program WTRC, Object Code 5882, Reporting Category 0190. <br />2. Required approval, clearance, and coordination have been accomplisheci from and with <br />appropriate agencies. <br />3. The PRO�ecr Summary, attached as Appendix 1 and incorporated herein, contains <br />BoRROwER lnformation (Section 1), the PRO,�ECr Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legisiative <br />Authorization which identfies 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 oovenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISIONS <br />Loan Service Fee. The amount of the loan (LOAN AMOUNT� SIIaII include (1) the <br />amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECT and (2) a <br />senrice fee of one percent (1 %) of the PRO�ECr amount. In the event that the <br />BORROWER d0@S 110t USe fh@ LOAN AMOUNT aUthOI1Z8d the parties shall amend this <br />contract to revise the LoAn► AnnouNT including adjustment of the service fee to reflect <br />1 Of th@ aCtU�l LOAN AMOUNF dISbU�Sed t0 the BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances thG' 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 11 <br />