C150230 Contract

• Contract/PO #: C150230
• Contractor Name: Lincoln Park Crooked Ditch Company
• Contract Type: Loan
• Water District: 12
• County: Fremont
• Loan Projects - Doc Type: Contract Documents

Project Summary - Lincoln Park Crooked Ditch Co. - Contract No. C15230
SECTION 1 -BORROWER INFORMATION
Name: Lincoln Park Crooked Ditch Company
Address: P.O. Box 756, Canon City, CO 81212
Federal Identification No.: _<6 q - ()~ '2.. 6 DOt)
Contact: AI Cole, President
Phone Number: [phone]
E-mail address:[e-mail]
Type of Entity: a eolorado nonprofit corporation

Section 2 - Project Description
A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be
used for rehabilitation of the existing piped irrigation ditch, located in Fremont
County, hereinafter referred to as the PROJECT, at an estimated total cost of
$2,000,000.

B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report
on the PROJECT entitled "Feasibility Study," dated May 2006, compiled by Stillwater
Engineering, which is incorporated herein by reference, and, based upon the
feasibility report, the CWCB determined the PROJECT to be technically and
financially feasible.
SECTION 3 - CWCB's AUTHORITY

Construction Fund: This loan is made pursuant to the provisions of SS 37-60-119 and
37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from
the CWCB Construction Fund for the benefit of the people of the state, provided that
the borrower assures repayment of that money.

Section 37-60-122(1 )(b) C.R.S., authorizes the CWCB to make loans of up to
$5,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust
Fund Perpetual Base Account Fund without prior approval from the General Assembly

SECTION 4 - BOARD ApPROVAL

At its July 25,2006 meeting, the CWCB approved a loan from the Construction Fund to
the BORROWER in an amount up to $1,818,000 for PROJECT costs, not to exceed 90% of
the cost of the PROJECT, with a loan origination fee of 1 % in accordance with CWCB
Policy No. 16, at an interest rate of 3.25% per annum for a repayment term of 30 years.

SECTION 5 - SCHEDULE OF EXISTING DEBT

No existing debt.

SECTION 6 - COLLATERAL

The collateral provided for this loan, as evidenced by the executed Deed of Trust, in
the form attached as Appendix 5 and incorporated herein, shall be an undivided one

Appendix 1 to Loan Contract C150230
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