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BoRROwER: NuMBER Six DiTCH Co. Agency Name: Water Conservation Board <br />Contract No. C150205 Agency Number PDA <br />Project Amount $682,121 Routing Number 06 PDA G�7 <br />Loan Service Fee $6,821 <br />Loan Amount $688,942 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003) <br />THIS CONTRACT made this December 20, 2005, 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 Number Six Ditch Company, a Colorado <br />nonprofit corporation, P.O. Box 312, 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. C150205, Fund Number 424, Appropriation Code MS6, Organization YYYY, GBL <br />N205, Program WTRC, Object Code 5882, Reporting Category 0205. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO�ECT 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 Legisiative <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 does not use the LoaN AnnourvT authorized, the parties shall amend this <br />contract to revise the Loarv AnnouNT including adjustment of the service fee to reflect <br />1% Of th2 aCtUal LOAN AMOUNT dlSbUl'Sed t0 the BORROWER <br />2. Contract Amendment Service Fees. Under certain circumstances th2 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 9 of 11 <br />