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BORROWER: TOWN OF HILLROSE, ACTING BY <br />AND THROUGH ITS WATER ACTIVITY <br />ENTERPRISE <br />Contract No. C150254 <br />Project Amount $49,500 <br />Loan Service Fee $495 (1 %) <br />Loan Amount $49,995 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 09 PDA - � <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT made this February 1, 2009, 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 the Town of Hillrose, acting by and through <br />its Water Activity Enterprise, 315B Emerson, P.O. Box 1, Hillrose, CO 80733 <br />("BORROWER'��. <br />FACTUAL RECITALS <br />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. C150254, Fund Number 424, Appropriation Code MS8, Organization YYYY, GBL <br />H254, Program WTRC, Object Code 5510, Reporting Category 0254. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRaecr Summary, attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) the PROJECT 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 ioan money to the BoRROwER for this <br />PRO�ECT 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 for the PRO�ECT and (2) <br />a service fee of one percent (1 %) of the PRO�ECT amount. In the event that the <br />BoRROwER does not use the LoaN AnnourvT authorized, the parties shall amend this <br />Loan Contract C150254 <br />Page 1 of 11 <br />