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� <br />� <br />BORROWER: BIJOU IRRIGATION DISTRICT Agency Name: Water Conservation Board <br />Contract No. C150259 Agency Number PDA <br />Project Amount $2,385,000 Routing Number 08 PDA �p_d? � <br />Loan Service Fee $23,850 <br />Loan Amount $2,408,850 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 -APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT, made this March 7, 2008, is 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 Bijou Irrigation District, P.O. Box 972, Fort <br />Morgan, Colorado 80701, organized under the Irrigation District Law of 1905 (C.R.S. 37- <br />41-101 to-160) ("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. C150259, Fund Number 424, Appropriation Code MS8, Organization YYYY, GBL <br />B259, Program WTRC, Object Code 5560, Reporting Category 0259. <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), tile 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 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 />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) <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 Loatv AMOUNT including adjustment of the service fee to reflect <br />1% Of th@ aCtUal PROJECTAMOUNT CIISbUCS2d t0 th2 BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances, th2 BORROWER <br />shall be assessed a fee for amending the contract. <br />LOAN CONTRACT No. C150259 <br />Page 1 of 11 <br />