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<br />f. <br /> <br />.. <br />~ <br /> <br />BORROWER: Town of Coal Creek <br />Contract No. C150139 <br />Project Amount $67,500 <br />!% Loan Service Charge $675 <br />Loan Amount $68,175 <br /> <br /> <br />lOAN CONTRACT \1(\1rD-: <br /> <br />THIS CONTRACT, made this June 1,2003, by and between the Slale of ~oul <br />the use and benefit of the Department of Natural Resources, Colorado Water Conservation <br />Board ("CWCB" and/or the "STATE"), and the Town of Coal Creek, Colorado, acting by and <br />through its Water Activity Enterprise, P.O. Box 36, Coal Creek, Colorado 81221-0036 <br />("BORROWER" and/or "CONTRACTOR"). <br /> <br />FACTUAL RECITALS <br /> <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 />payment as follow: Contract Encumbrance No. C150139, Fund Number 424, <br />Organization YYYV, Appropriation Code MC3, GBL C139, Program WTRC, Object <br />Code 5560, Reporting Category 0139. <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br /> <br />3. The PROJECT 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~ ft). r\t. . C... U.., B Approval and Legislative <br />Authorization which defines the amount o. .'. nd the terms of repayment <br />(Section 4)'1 'i. > <br /> <br />4. The CWCB now desires, by this contract, to loan money to the BORROWER for this <br />PROJECT upon mutually agreeable terms and conditions. <br /> <br />THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br /> <br />A. LOAN PROVISIONS <br /> <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 and (2) a service fee of <br />one percent (1 %) of the amount of the funds loaned. In the event that the BORROWER <br />does not use the full loan amount authorized, the parties shall amend this contract to <br />revise the LOAN AMOUNT and to adjust the service fee to reflect 1 % of the actual loan <br />amount disbursed to the BORROW E 1\", <br /> <br />2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br />shall be assessed fees for amending the contract. <br /> <br />a. A service fee shall be imposed on the BORROWER for amendments processed for <br />the benefit of the BORROWER and necessary for the BORROWER'S course of <br />business, including, but not limited to, a change in borrower name (novation), <br /> <br />Town of Coal Creek <br /> <br />Page 1 of 10 <br /> <br />Loan Contract <br />