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- '" BORROWER LOGAN IRRIGATION DISTRICT Contract No. C150229 Project Amount $500,000 Loan Service Fee $5,000 Loan Amount $505,000 Agency Name: Water Conservation Board Agency Number PDA Routing Number 07 PDA &tt) :1IV LOAN CONTRACT (STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10,2003) THIS CONTRACT, made this November 8, 2006, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or "STATE"), and Logan Irrigation District, P.O. Box 333, Sterling, CO 80751, a Colorado irrigation district formed and operated pursuant to the Irrigation Law of 1905 (C.R.S. 937-41-101 to -160) ("BORROWER"). FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for encumbering and subsequent payment of this contract under: Contract Encumbrance No. C150229, Fund Number 424, Appropriation Code MS6, Organization YYYV, GBL L229, Program WTRC, Object Code 5560, Reporting Category 0229. 2. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. 3. The PROJECT Summary, attached as Appendix 1 and incorporated herein, contains BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's authority for making this loan (Section 3), and CWCB Approval and Legislative Authorization which identifies the amount of the loan and the terms of repayment (Section 4). 4. The CWCB now desires, by this contract, to loan money to the BORROWER for this PROJECT upon mutually agreeable terms and conditions. THEREFORE, in consideration of the mutual and dependent covenants contained herein, the parties agree as follows: A. LOAN PROVISIONS 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2) a service fee of one percent (1 %) of the PROJECT amount. In the event that the BORROWER does not use the full LOAN AMOUNT authorized, the parties shall amend this contract to revise the LOAN AMOUNT, including adjustment of the service fee to reflect 1 % of the actual LOAN AMOUNT disbursed to the BORROWER. 2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER Loan Contract C150229 Page 1 of 12 .-.... -."r'-,;.;