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Pursuant to Senate Bill 07-122, the Colorado Generai Assembly authorized CWCB to <br />loan to the BoRROwER an amount up to $8,844,570 for the PRO�ECT <br />SECTION 5— SCHEDULE OF EXISTING DEBT <br />A 2003 Water Revenue Refunding Bond with American National Bank in the amount of <br />$1,055,000 through 2012. <br />Loan from Department of Local Affairs in the amount of $104,111 through 2020. <br />Loan from the US Department of Agriculture in the amount of $173,900 through 2039. <br />Loan with Wells Fargo in the amount of $3,000,517. <br />SECTION 6— ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS <br />No additional contract requirements. <br />SECTION 7— CONSTRUCTION FUND PROGRAM PROCEDURES <br />A. The BoRROwER shall employ an engineer, registered in the state of Colorado to <br />prepare plans and specifications for the PRO�ECT. <br />B. The BoRROwER must submit a written appraisal or opinion of value from a qualified <br />water rights appraiser supporting the purchase price of the water rights prior to <br />disbursal of loan funds. <br />C. Th@ BORROWER and the Engineering Consultant's plans and specifications must <br />be submitted to the CWCB staff for verification of compliance with the terms of this <br />Contract when available prior to bidding. Any modifications to the plans and <br />specifications must be approved in writing by the CWCB staff. <br />D. For plans and specifications for all jurisdictional dams and resenroirs, as defined <br />by § 37-87-105 C.R.S., the BoRROwER shall provide a letter of approval from the <br />State Engineer's Office prior to construction. <br />E. CWCB staff must be present at bid opening and must approve the award of the <br />construction contract. <br />F. The BoRROwER shall contract for the construction of the work with responsible and <br />capable Construction Firms, which said Construction Firms shall be selected by <br />the BoRROwER and found acceptable by the CWCB staff. <br />G. The BORROWER must provide a copy of the executed construction contract <br />documents consisting of the contractor's proposal, construction contract, <br />performance bond, payment bond, notice of award, notice to proceed, sample <br />change order, and sample field order, as well as the advertisement for bid and bid <br />bond at bidding. After the CWCB staff verifies that these documents comply with <br />the terms of this contract, the BoRROwER may issue the notice to proceed to the <br />Construction Firms. <br />Appendix 1 to Loan Contract C150237 <br />Page 2 of 4 <br />