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� <br />� <br />BORROWER: EAST MANCOS HIGHLINE DITCH <br />COMPANY <br />Contract No. C150207 <br />Project Amount $895,050 <br />Loan Service Fee $8,950 <br />Loan Amount $904,000 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 07 PDA �D 7 3 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #16Q - APPROVED NOVEMBER 1 O, 2003) <br />THIS CONTRACT made this February 15, 2007, 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 East Mancos Highline Ditch Company, a <br />Colorado nonprofit corporation, 43930 Hwy 160, 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 su�cient unencumbered balance thereof remains available for <br />encumbering and subsequent payment of this contract under: Contract Encumbrance <br />No. C150207, Fund Number 424, Appropriation Code MS6, Organization YYYY, GBL <br />E207, Program WTRC, Object Code 5882, Reporting Category 0207. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO.IECT Summary attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) th@ 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 fOf thlS <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 PROJECT amount. In the event that the <br />BoRROwER does not use the LoaN AnnouNr authorized, the parties shall amend this <br />contract to revise the LoaN AnnourvT including adjustment of the service fee to reflect <br />1% of the actual LoaN AnnoutvT disbursed to the BoRROwER. <br />2. Contract Amendment Service Fees. Under certain circumstances the BORROWER <br />shall be assessed a fee for amending the contract. <br />Page 1 of 11 <br />