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BORROWER: ORDWAY FEEDYARD, LLC AGENCY NAME: Water Conservation Board <br />CONTRACT NO. C1503449 AGENCY NUMBER: PDA <br />PROJECT AMOUNT $2,500,000 CWCB CMS #55869 <br />LOAN SERVICE FEE $25,000 <br />LOAN AMOUNT $2,525,000 <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 Ordway Feedyard, LLC, 19424 Colorado Hwy 96, Ordway, CO 81063 <br />( "BORROWER "), a Colorado limited liability company. <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. C150349 Fund Number 424, Appropriation Code M13, Organization YYYY, GBL <br />0349, Program WTRC, Object Code 5882, Reporting Category 0349; and <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies; and <br />3. On March 19, 2013 the CWCB approved a loan request from the BORROWER for the <br />Ordway Feedyard Raw Water Line Extension Project ( "PROJECT ") to complete a raw <br />water system that will provide a consistent, viable water supply enabling the BORROWER <br />to sustain its operations and provide economic stability within Crowley County, <br />Colorado. The total cost of the PROJECT is estimated to be $3,381,500. The BORROWER <br />requested a CWCB loan for $2,500,000; 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 />Loan Contract C150349 <br />Page 1 of 11 <br />