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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />NORTHERN COLORADO WATER ASSOCIATION <br />Feasibility of Asset Acquisition <br />-3- <br /> <br />Collateral <br /> <br />The Association can offer the assets acquired by the project <br />(purchase of real estate and water rights), 350 units of <br />Colorado Big Thompson project water, and revenues above those <br />necessRry for operating expenses and the $107,544 payments on <br />the existing USDA-FMHA loans. <br />