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repayment. The surcharge for this loan is $22.85 per month per <br />tap. <br />Collateral <br />As security for the loan, Hillrose will pledge all the shares of <br />water purchased with the CWCB loan. <br />Institutional Considerations <br />Hillrose needs authorization to borrow $49,500 from the CWCB <br />Construction Fund. The loan, if approved, from the CWCB will be <br />contingent upon the successful negotiation of a contract between <br />the CWCB and Hillrose. <br />Opinion of Feasibility <br />The selected alternative is technically and financially feasible. <br />There are no known roadblocks, which would keep Hillrose from <br />successfully completing this project. <br />Feasibility Study L <br />Hillrose Water Rights Project V <br />June 2007 <br />