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� <br />BORROWER: BULL CREEK RESERVOIR CANAL <br />& POWER COMPANY <br />Contract No. C150240 <br />Project Amount $1,200,000 <br />Loan Service Fee $12,000 <br />Loan Amount $1,212,000 <br />� <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 07 PDA aoio� <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003) <br />THIS CONTRACT, made this June 18, 2007, is by and befinreen the State of Colorado <br />for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" OI' "STATE"�, aC1d BULL CREEK RESERVOIR CANAL 8c POWER <br />COMPANY, P.O. Box 25, Molina, CO 81646, a Colorado nonprofit corporation("BORROWER"). <br />FACTUAL RECITALS <br />Authority exists in the law, and funds have been budgeted, appropriated and othe►wise <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. C150240, Fund Number 424, Appropriation Code MS7, Organization YYYY, GBL <br />6240, Program WTRC, Object Code 5882, Reporting Category 0240. <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 :his 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 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�ECr 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 AnnourvT authorized, the parties shall amend this <br />contract to revise the Loarv AnnouNT including adjustment of the service fee to reflect <br />1% of the actual LoArv AnnouNT disbursed to the BoRROwER. <br />2. Contract Amendment Service Fees. Under certain circumstances, th@ BORROWER <br />shall be assessed a fee for amending the contract. <br />Loan Contract C150240 <br />Page 1 of 11 <br />�� � <br />