PROJ01923 ‎(2)‎

• Contract/PO #: C150126
• Contractor Name: Kremmling, Town of
• Contract Type: Loan
• Water District: 50
• County: Grand
• Loan Projects - Doc Type: Contract Documents

BORROWER: KREMMLlNG, TOWN OF
Contract No. C150126
Loan Amount $1,689,750

Agency Name: Water Conservation Board
Agency Number PDA )"
Routing Number 05 PDA 00 () I <LJ

LOAN

CONTRACT

(STANDARD CONTRACT - WAIVER #160 -. APPROVED NOVEMBER 10, 2003)

THIS CONTRACT, made this September 15, 2004, 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 Town of Kremmling acting by and through
its water enterprise, P. O. Box 538, Kremmling, Colorado 80459-0538, ("BORROWER").

F AC T U A L R E C I TAL S

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. C150126, Fund Number 424, Appropriation Code MC3, Organization YYVV, GBL
K126, Program WTRC, Object Code 5560, Reporting. Category 0126.

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 L1egislative
Authorization which identifies the amount of the loan and the terms of rHpayment
(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 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
shall be assessed a fee for amending the contract.

a. A service fee shall be imposed on the BORROWER for amendments proeessed for

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