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BORROWER: BERGEN DITCH AND RESERVOIR <br />COMPANY <br />CONTRACT No. C150344 <br />PROJECTAMOUNT $2,000,000 <br />LOAN SERVICE FEE $20,000 <br />LOAN AMOUNT $2,020,000 <br />AGENCY NAME: Water Conservation Board <br />AGENCY NUMBER: PDA <br />CWCB CMS #55040 <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 10, 2003) <br />THIS CONTRACT, made between the State of Colorado for the use and benefit of The <br />Department of Natural Resources, Colorado Water Conservation Board ( "CWCB" or <br />"STATE "), and Bergen Ditch and Reservoir Company, ( "BORROWER "), a Colorado nonprofit <br />corporation <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. C150344, Fund Number 424, Appropriation Code ml 3, Organization YYYY, GBL <br />b344, Program WTRC, Object Code 5882, Reporting Category 0344; and <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies; and <br />3. On November 13, 2012, the CWCB approved a loan request from the BORROWER for <br />the Bergen Reservoir No. 2 Rehabilitation Project ( "PROJECT ") to make improvements to <br />the Bergen Reservoir No. 2 outlet works and dam, per the direction of the Dam Safety <br />Branch of the State Engineer's Office (SEO); and <br />4. The PROJECT 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); and <br />5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this <br />PROJECT 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 PROJECT and (2) <br />a service fee of one percent (1 %) of the PROJECT amount. In the event that the <br />BORROWER does not, use the LOAN AMOUNT authorized, the parties shall amend this <br />CONTRACT to revise the LOAN AMOUNT including adjustment of the service fee to reflect <br />Loan Contract C150344 <br />Page 1 of 11 <br />