C150157 contract docs ‎(2)‎

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

BORROWER: GRAND MESA RESERVOIR CO. Agency Name: Water Conservation Board
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 #16O - APPROVED NOVEMBER 1 O, 2003�
THIS CONTRACT, made this December 15, 2003, is by and between 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 PRO�ECT Summary, attached as Appendix 1 and incorporated herein, contains
BORROWER Information (Section 1), the PRO,IECT Description (Section 2), CWCB's
authority for making this loan (Section 3), and CWCB Approval and Legislative.
Authorization which identifies the amount of the loan and the terms ,of repayment
(Section 4).
4. The CWCB now desires, by this contract, to loan money to the BORROWER f01' thlS
PRO�ECT upon mutually agreeable 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� Sh811 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�ECT amount. In the event that the
BoRROwER does not use the LoaN AMOUrvT authorized, the parties shall amend this
contract to revise the LoAN AnnouNT including adjustment of the service fee to reflect
1% Of the aCtUal LOAN AMOUNT dlSbUl'S@d t0 the BORROWER.
2. Contract Amendment Service Fees. Under certain circumstances, the 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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