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BORROWER: SILT WCD Contract No. C150149 Project Amount $1,019,700 1% Loan Service Fee $10,197 Loan Amount $1,029,897 Agency Name: Water Conservation Board Agency Number PDA p4 - �.�,� Routing Number f�f�n �f7 LOAN CONTRACT T+�is CONTRACT, made this November 1, 2003, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or "STATE"), and Silt Water Conservancy District acting by and through the Silt Water Conservancy District Water Activity Enterprise, P. O. Box 8, Silt, Colorado 81652, ("BORROWER" OR "CONTRACTOR"�. FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for encumbering and subsequent payment of this contract under: Contract Encumbrance No. C150149, Fund Number 424, Appropriation Code MC4, Organization YYYY, GBL S149, Program WTRC, Object Code 5560, Reporting Category 0149. 2. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. 3. The PRO�ecT Summary, attached as Appendix 1 and incorporated herein, contains BORROWER Information (Section 1), thG PROJEGT Description (Section 2), CWCB's authority for making this loan (Section 3), and CWCB Approval and Legislative Authorization which identifies the amount of the loan and the terms of repayment (Section 4). 4. The CWCB now desires, by this contract, to loan money to the BoRROwER for this PRO�ECT upon mutually agreeable terms and conditions. THEREFORE, in consideration of the mutual and dependent covenants contained herein, the parties agree as follows: A. LOAN PROVISIONS Loan Service Fee. The total amount of the loan (ToTa� LoaN aMOUNT) shall include (1) the amount of the funds loaned by the CWCB to the BoRROwER and (2) a service fee of one percent (1%) of the amount of the funds loaned. In the event that the BoRROwER does not use the full loan amount authorized, the parties shall amend this contract to revise the ToTa� LoaN AnnouNT and to adjust the service fee to reflect 1% of the actual loan amount disbursed to the BoRROwER. 2. Contract Amendment Service Fees. Under certain circumstances, thG' BORROWER shall be assessed a fee for amending the contract. a. A service fee shall be imposed on the BoRROwER for amendments processed for the benefit of the BORROWER and necessary for the BORROWER's course of business, including, but not limited to, a change in borrower name (novation), assignment of contract, substitution of collateral, loan payment deferments in Page 1 of 10