C150157 contract docs

• Contract/PO #: C150157
• Contractor Name: Grand Mesa Reservoir Company
• Contract Type: Loan
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

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BORROWER: GRAND MESA RESERVOIR CO. AgetlCy Natlle: Wat21' C011S2Nat1011 B081'd
Contract No. C150157 Agency Number PDA
Project Amount $180,000 Routing Number 04 PDA 00058
Loan Service Fee $1,800
Loan Amount $181,800
LOAN CONTRACT
(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003)
THIS CONTRACT, made this December 15, 2003, is by and befinreen the State of
Colorado for the use and benefit of The Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" or "STATE"), and The Grand Mesa Reservoir Company, 333
Purdy Mesa Road, Whitewater, CO 81527, a Colorado nonprofit corporation
("BORROWER").
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. C150157, Fund Number 424, Appropriation Code MC4, Organization YYYY, GBL
G157, Program WTRC, Object Code 5882, Reporting Category 0157.
2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
3. The Ptto�ecT Summary, attached as Appendix 1 nd incor rate herein, contains
BORROWER Information (Section 1), the PRe;t�cT escription ion 2), CWCB's
authority for making this loan (See ' , and CB Ap roval and Legislative
Authorization which identifies the ount f the lo and the terms of repayment
(Section 4).
4. The CWCB now desi , this con , to loan money to the BoRROwER for this
PRO�ECT upon mutually eable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:
A. LOAN PROVISIONS
1. Loan Service Fee. The amount of the loan (LOAN AMOUNT� shall include (1) the
amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECT and (2)
a service fee of one percent (1 %) of the PRO,IECT amount. In the event that the
BoRROwER does not use the LoaN AnnouNT authorized, the parties shall amend this
contract to revise the Loarv AMOUNT including adjustment of the service fee to reflect
1% of the actual Loatv AMOUNT disbursed to the BoRROwER.
2. Contract Amendment Service Fees. Under certain circumstances, th2 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 but not necessary for the CWCB, including, but not limited to, a change
. in borrower name (novation), assignment of contract, substitution of collateral,
loan payment deferments in excess of 3 per loan, and loan consolidation.
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