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<br />Collateral <br /> <br />As security for the loan the RDAEC will pledge assessment revenues backed by <br />assessment covenant and the project itself. This security is in compliance with CWCS <br />Loan Policy #5 (Collateral). <br /> <br />Economic Analysis <br /> <br />If the project is not completed the annual production of lands in the service area would <br />be reduced due to loss of water. <br /> <br />Social and Physical Impacts <br /> <br />The project will have no significant social impacts, since it will assure the continued <br />operation of an existing irrigation system. The project will have minor physical impacts, <br />once construction is complete. <br /> <br />Conclusions <br /> <br />1. The Riverside Ditch and Allen Extension Company is an incorporated entity. The <br />Company must be registered in the State of Colorado in order to enter into a contract <br />with the CWCS for the purpose of obtaining a Construction Fund Loan. <br /> <br />2. Rights-of-Way easements will be obtained in time for the construction of this project. <br /> <br />3. The project would provide for the continued delivery of irrigation water to share <br />holders. <br /> <br />4. The total estimated cost of the project is $e,OOO and will be financed by a grant from <br />the NRCS for engineering services, and by a $50,000 ewcs loan for construction. <br /> <br />Opinion of Feasibility <br /> <br />The project appears to be technically and financially feasible. <br /> <br />11\ <br />