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BORROWER: CHURCH DITCH WATER AGENCY NAME: Water Conservation Board <br /> AUTHORITY AGENCY NUMBER: PDA <br /> CONTRACT No. C150377 CONTRACT FORM DATE: PUBLIC/070113 <br /> PROJECT AMOUNT $600,000 CWCB CMS #62201 <br /> LOAN SERVICE FEE$6,000 <br /> LOAN AMOUNT $606,000 <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 Church Ditch Water Authority, an Authority pursuant to C.R.S., Section 29- <br /> 1-204.2, 2350 West 112th Ave., Northglenn, CO 80234, ("BORROWER"). <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 <br /> Encumbrance No. C150377, Fund Number 744, Appropriation Code P14, Organization <br /> YYYY, GBL C377, Program WTRC, Object Code 5560, Reporting Category 0377; <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 Leyden Creek Crossing Repair to repair damages to the crossing <br /> structure, caused by the 2013 flood event, to allow the Authority to convey its decreed <br /> water rights ("PROJECT"). This loan was approved as a 30 year loan with no payments <br /> and zero interest for the first three years followed by 27 years of amortized payments <br /> at the interest rate of 2.85%. <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 /> Loan Contract C150377 <br /> Page 1 of 12 <br />