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BORROWEFt: HEADGATE 136 LATERAL Irvc. agency Name: Water Conservation Board <br />Contract No. C150270 Agency Number PDA <br />Projecf Amount $260,000 Rauting Number 09 PDA ���,�t�� <br />Loan Service Fee $2,600 <br />Loan Amaunt $262,600 <br />LO�AN CONTRACT <br />(STANDARD CONTRACT- WAIVER #160 - APPROVED NOVEMBER 10, 20(73) <br />THIS CONTRACT made this September 15, 20Q8, is by and between the State of <br />Colorado for the use and ben�fiit ofi The Department of Natural Resources, Golorado Water <br />Conserva#ion Board ("CWCB" or " �TATE'� , and the Headgate 135 Lateral, Inc., 3042 <br />Belford Ct., Grand JUnction, CO 81504, a Colorado nonprofit corporatian (" BORROWER "). <br />FACTUAL RECITALS <br />1. Authority exists in the law, and funds have been budgeted, appropri�ted and otherwise <br />made available and a su#fiici�nt uner�cumbered bafance thereof remains available for <br />encurribering and subsequent payment of this contract under: Contract Encumbrance <br />No. C150270, Fund Number 424, Appropriation Code MS9, Organization YYYY, GBL <br />H270, Program WTRC, t�bject Code 5882, Reparting Category 0270. <br />2. Required approval, clearance, and coordination have been accamplished from and with <br />appropriate agencies. <br />3. The PRO���T �umrnary, attached as Appendix 1 and incorporated herein, contains <br />BoRROWER Information (Section 1) fihe PRO�ECr Description (SeCtion 2), CWCB's <br />authority for makFng this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which identi�es fihe amaunt 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��cT upon mufivaHy agreeable terms and conditions. <br />THEREFORE, in consideration of the mutual and dependent cavenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISlONS <br />1. Loan Senrice Fee. The amount of the loan (LOAN AMQUNT� Sh�ll include (1) the <br />amount of the funds toaned by the CWCB to the BoRROw�R for the PRO��cT and (2) <br />a service fee of one percent (1 %) af the PRO,►ECT amount. In the event that the <br />BORROWER dOBS f10t USE? thG' LQAN AMOUNT c�Ufih��IZ�d the parties shall amend this <br />confiract to revise the LoA� AnnouwT ineluding adjustment of the service fee to refilect <br />1% of the actua! LoAN AnnouNT di�bursed to the BaR�towER. <br />�. c:on�ract Amendmen# �ervice Fees. Under c�rtain circumstances, the BoRROw�t� <br />shall be assessed a fee for amendirtg the cantract. <br />a. A service fee shall be imposed on the BoRROw€R for amendments pracessed for <br />Loan Gantract C15U270 <br />Page 1 of 11 <br />