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SECTION 5—SCHEDULE OF EXISTING DEBT <br /> The BORROWER has two loans with the Colorado Water Conservation Board, totaling both <br /> in good standing. See Table below. <br /> EXISTING DEBT <br /> Contract Original Current Annual Maturity Date <br /> Number Balance Balance Payment Collateral <br /> Left Hand <br /> C153804 $560,000 $384,027 $33,875 June 1, 2029 Valley Dams <br /> and Reservoirs <br /> TBD Pledge of <br /> (Note:this proj <br /> C150336 $1,157,157 $1,157,157 $54,918 not substantially ect is assessment <br /> complete as of revenues <br /> 10/1/13) <br /> SECTION 6 -COLLATERAL <br /> The COLLATERAL provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 4) and DEED OF TRUST (APPENDIX 5) and incorporated herein, <br /> shall be a pledge of assessment revenues backed by a rate covenant and an <br /> undivided one hundred percent (100%) interest in the Left Hand Valley Dam and <br /> Reservoir as more particularly described in the attached DEED OF TRUST <br /> ("COLLATERAL"). <br /> SECTION 7—ADDITIONAL CONDITIONS &CONTRACT REQUIREMENTS <br /> Any future grant funds obtained for the purpose of this PROJECT shall be submitted to <br /> CWCB to be applied to the balance of the loan within thirty (30) calendar days after <br /> receipt of said funds. <br /> SECTION 8—CONSTRUCTION LOAN PROGRAM PROCEDURES <br /> A. The BORROWER shall employ an engineer, registered in the state of Colorado to <br /> prepare plans and specifications for the PROJECT. <br /> B. Engineering Contracts and the plans and specifications must be submitted to the <br /> CWCB staff for verification of compliance with the terms of this CONTRACT when <br /> available prior to bidding. Any modifications to the plans and specifications must be <br /> approved in writing by the CWCB staff. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by <br /> § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br /> Engineer's Office prior to construction. <br /> D. The BORROWER shall extend an invitation to CWCB to be present at the bid opening. <br /> E. The BORROWER shall contract for the construction of the work with responsible and <br /> Appendix 1 to Loan Contract C150370 <br /> Page 2 of 4 <br />