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f <br />BORROWER: WOOD LAKE MUTUAL WATER <br />AND IRRIGATION COMPANY <br />Contract No. C150244 <br />Project Amount $210,600 <br />Loan Service Fee $2,106 <br />Loan Amount $212,706 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 08 PDA J ���� <br />LOAN �ONTRACT <br />�STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O 2003) <br />THIS CONTRACT made this November 1, 2007, is by and between the State of <br />Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or " STATE "), and the Wood Lake Mutual Water and Irrigation <br />Company, P.O. Box 72, Lucerne, CO 80646, a Colorado nonprofit corporation <br />(`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. C150244, Fund Number 424, Appropriation Code MS7, Organization YYYY, GBL <br />W244, Program WTRC, Object Code 5882, Reporting Category 0244. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PROJECT Summary attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) th2 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 fOf 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� shall include (1) the <br />amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECT and (2) a <br />service fee of one percent (1 %) of the PROJECT amount. In the event that the <br />BoRROwER does not use the Loan� Annour�T authorized, the parties shall amend this <br />contract to revise the Loarv AnnourvT including adjustment of the service fee to reflect <br />1% of the actual Loarv AnnourvT disbursed to the BoRROw�R. <br />2. Contract Amendrnent Service Fees. Under certain circumstances th2 BORROWER <br />Laan Contract C150244 <br />Page 1 of 11 <br />