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BORROWER: SANTA MARIA AGENCY NAME: Water Conservation Board <br />RESERVOIR COMPANY AGENCY NUMBER: PDA <br />CONTRACT No. C150350 CWCB CMS #58490 <br />REQUESTED LOAN AMOUNT $1,391,250 <br />LOAN SERVICE FEE $13,913 <br />TOTAL LOAN AMOUNT $1,405,163 <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 Santa Maria Reservoir Company ( "BORROWER "), P.O. Box 288, Monte Vista, <br />CO 81144, a mutual reservoir corporation under C.R.S. §7 -42 -101 et seq. and a Colorado <br />nonprofit corporation. <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. C150350, Fund Number 424, Appropriation Code M13, Organization YYYY, GBL <br />S350, Program WTRC, Object Code 5882, Reporting Category 0350; and <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies; and <br />3. On March 19, 2013, CWCB approved a loan request from the BORROWER for the <br />Siphon Support System and Canal Improvements Project ( "PROJECT ") to make <br />improvements to the siphon and conveyance system that delivers water to Santa Maria <br />Reservoir. The total cost of the PROJECT is estimated to be $1,855,000. The BORROWER <br />was approved for a $463,750 grant (C150516), by the Rio Grande Basin Roundtable, <br />from the Water Supply Reserve Account (WSRA) and the BORROWER requested a <br />CWCB loan to assist with PROJECT costs; 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 CWCB to the BORROWER for the PROJECT and (2) a <br />Loan Contract C150350 <br />Page 1 of 11 <br />