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� � <br />t_ <br />BORROWER: NORTH STERLING IRRIGATION <br />DISTRICT <br />Contract No. C150293 <br />Project Amount $1,084,000 <br />Loan Service Fee $10,840 <br />Loan Amount $1,094,840 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003� <br />THis CONTRACT, made this September 3, 2009, by and befinreen the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or "STATE"), and the North Sterling Irrigation District, 112 N. <br />8tn Avenue, P.O. Box 103, Sterling, CO 80751, organized under the Colorado Irrigation <br />District Act of 1905 ("BORROWER"). <br />FACTUAL RECITALS <br />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. C150293, Fund Number 424, Appropriation Code MC9, Organization YYYY, GBL <br />N293, Program WTRC, Object Code 5560, Reporting Category 0293. <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), th2 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 Loarv AMOUNT authorized, the parties shall amend this <br />contract to revise the Loarv AnnouNr including adjustment of the service fee to reflect <br />1% of the actual Loa,rv AnnouNT disbursed to the BoRROwER. <br />2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br />Loan Contract C150293 <br />Page 1 of 11 <br />