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BORROWER: YUMA COUNTY WATER <br />AUTHORITY PUBLIC IMPROVEMENT DISTRICT <br />Contract No. C150274 <br />Project Amount $9,500,000 <br />Loan Service Fee $95,000 <br />Loan Amount $9,595,000 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 09 PDA �C�G6 <br />LOAN CONTRACT <br />THIS CONTRACT made effective as of ��, i�'�`, 2008 and effective as of the <br />Effective Date (as defined on the signature page of this Contract, by and between the State <br />of Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board ("CWCB" or " STATE "), and the Yuma County Water Authority <br />Public Improvement District, a Colorado public improvement district, c/o Yuma County <br />Board of County Commissioners, 310 Ash, Suite A, Wray, CO 80758 (" BORROWER " or <br />'�DISTRICT"). <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. C150274 Fund Number 424, Appropriation Code MS9, Organization YYYY, GBL <br />Y274, Program WTRC, Object Code 5560, Reporting Category 0274. <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 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 loan money to the BORROWER fOC thlS <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� consists of (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 such funds loaned for the PRO�EC`r. In the event <br />Loan Contract C150274 <br />Page 1 of 11 <br />12368\1 \1216151 7 <br />