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BORROWER: 3T CATTLE COMPANY Agency Name: Water Conservation Board <br />Contract No. C150175 Agency Number PDA <br />Project Amount $229,500 Routing Number 05 PDA �00 <br />Loan Service Fee $2,295 <br />Loan Arnount $231,795 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT made this August 1, 2004, 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 3T Cattle Company, Inc., P. O. Box 88, Fort <br />Morgan, Colorado 80701, a Colorado corporation (" 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. C150175, Fund Number 424, Appropriation Code MS4, Organization YYYY, GBL <br />T175, Program WTRC, Object Code 5882, Reporting Category 0175. <br />2. Required approval, clearance, and coordi en accomplished from and with <br />appropriate agencies. �1���� <br />3. The PRO�ECT Summary, attached e ' orporated herein, contains <br />BORROWER Information (Section 1), t PR s t' n(Section 2), CWCB's <br />authority for making this loan (Se ' n 3), n pproval 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 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 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 the actual Loarv AMOUrvT disbursed to the BoRROwER. <br />2. Contract Amendment Service Fees. Under certain circumstances the BORROWER <br />shall be assessed a fee for amending the contract. <br />a. A service fee shall be imposed on the BoRROwER for amendments processed for <br />Page 1 of 10 <br />