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~ L <br />BORROWER: BIJOU IRRIGATION DISTRICT Agency Name: Water Conservation Board <br />Contract No. C150256 Agency Number PDA <br />Project Amount $648,000 Routing Number 08 PDA 0'~ 0`~ <br />Loan Service Fee $6,480 <br />Loan Amount $654,480 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003) <br />THIS CONTRACT, made this March 7, 2008, is by and between the State of Colorado <br />for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or "STATE"), and Bijou Irrigation District, P.O. Box 972, Fort <br />Morgan, Colorado 80701, organized under the Irrigation District Law of 1905 (C.R.S. 37- <br />41-101 to -160) ("BORROWER"). <br />FACTUAL RECITALS <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />encumbering and subsequent payment of this contract under: Contract Encumbrance <br />No. C150256, Fund Number 424, Appropriation Code MS8, Organization YYYY, GBL <br />B256, Program WTRC, Object Code 5560, Reporting Category 0256. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO~ECT Summary, attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1), the P~o~ECT Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which identifies the amount of the loan and the terms of repayment <br />(Section 4). <br />4. The CWCB now desires, by this contract, to loan money to the BORROWER f01' tIIIS <br />PRO~ECr upon mutually agreeable terms and conditions. <br />THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISIONS <br />1. Loan Service Fee. The amount of the_ loan (LOAN AMOUNT~ shall include (1) the <br />amount of the funds loaned by the CWCB to the BoRROwER fo'r the PRO~ECT and (2) <br />a service fee of one percent (1 %) of the PRO,~ECT amount. In the event that the <br />Bo~ROwER does not use the LoaN AMOUNr authorized, the parties shall amend this <br />contract to revise the LoAN AMOUNT including adjustment of the service fee to reflect <br />1% Of th2 aCtUal PROJECT AMOUNT dISbUCSed t0 the BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br />shall be assessed a fee for amending the contract. <br />LOAN CONTRACT No. C150256 <br />Page 1 of 11 <br />