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BORROWER: THE NORTH POUDRE IRRIGATION <br />COMPANY <br />CONTRACT NO. C150368 <br />PROJECT AMOUNT $477,000 <br />LOAN SERVICE FEE $4,770 <br />LOAN AMOUNT $481,770 <br />AGENCY NAME: Water Conservation Board <br />AGENCY NUMBER: PDA <br />CONTRACT FORM DATE: PRIVATE /070113 <br />CWCB CMS #62154 <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 The North Poudre Irrigation Company, 3729 Cleveland Ave., Wellington, <br />Colorado, 80549, ( "BORROWER "), a Colorado 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. C150368, Fund Number 744, Appropriation Code P14, Organization YYYY, GBL <br />N368, Program WTRC, Object Code 5882, Reporting Category 0368; and <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies; and <br />3. On October 21, 2013 the CWCB approved a loan request from the BORROWER for the <br />Emergency Fossil Creek Reservoir Inlet Diversion Structure Repair to repair damages <br />to the inlet diversion structure caused by the 2013 flood event ( "PROJECT "). This loan <br />was approved as a 30 year loan with no payments and zero interest for the first three <br />years followed by 27 years of amortized payments at the interest rate of 2.35 %. <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 C150368 <br />Page 1 of 11 <br />