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4. Prior to contract execution: <br />• The Brand Family's storage decree in Knouth Reservoir shall be transferred to <br />the Knouth Reservoir Corporation. <br />• The Company will provide to the CWCB executed copies of its corporate <br />documents to verify the legal formation of the Knouth Reservoir Corporation. <br />5. The loan contract shall have the following provision: <br />• As identified in the separate Memorandum of Understanding between the <br />Company and the Little Thompson Water District (District), the District shall pay <br />the Company over a 5 year period for its portion of the Knouth Reservoir <br />Rehabilitation Project. With the exception of the first payment, all payments <br />received by the Company from the District will be sent to CWCB within 60 days <br />of receipt of the funds, to repay the Company's loan. <br />6. The Company shall assign its capital stock in the Knouth Reservoir Corporation to <br />CWCB as collateraL <br />On behalf of the Board, I would like to thank you for applying for a Construction Fund <br />Loan from the Colorado Water Conservation Board. <br />Sincerely, <br />Tim Feehan, .E., Project Manager <br />Water Suppl Planning and Finance Section <br />Colorado W ter Conservation Board <br />Attachments: Updated Memo: Supply [rrigating Ditch Company Loan Amendment <br />C: Mr. Eric Wilkinson, Colorado Water Conservation Board <br />CWCB Section B Staff <br />