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,. � <br />� � <br />BORROWER: TOWN OF DEBEQUE, ACTING BY <br />AND THROUGH ITS IRRIGATION SYSTEM <br />ENTERPRISE <br />Contract No. C150241 <br />Project Amount $250,000 <br />Loan Service Fee $2,500 <br />Loan Amount $252,500 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 07 PDA D60 7� <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT made this March 14, 2007, by and between the State of Colorado <br />for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or " STATE "), and Town of DeBeque, P.O. Box 60, DeBeque, <br />CO 81630 acting by and through its Irrigation System Enterprise (" BORROWER "). <br />FACTUAL RECITALS <br />1. Authority exists in the law, and funds have been budgeted, appro riated and otherwise <br />made available and a sufficient unencumbered balance th o ains available for <br />encumbering and subsequent payment of th�c act unde Co act Encumbrance <br />No. C150241, Fund Number 424, A riation C e MS7, zation YYYY, GBL <br />D241, Program WTRC, Ob'ect Co 024 eportin Catego 510. <br />2. Required approval, r ce, and r' tion have been accomplished from and with <br />appropriate agencies. " <br />3. The PRO�ECr 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 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 f01' 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 />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 PRO�ECT amount. In the event that the <br />BoRROwER does not use the LoAN AnnouNT authorized, the parties shall amend this <br />contract to revise the Loarv AnnourvT including adjustment of the service fee to reflect <br />1% Of th2 aCtUal LOAN AMOUNT dISbUCS@Cl t0 the BORROWER. <br />Loan Contract C150241 <br />Page 1 of 12 <br />