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,. <br /> PROJECT SUMMARY — Petrocco Family Limited Partnership, LLLP <br /> Appendix A, Amendment No. 1 to Loan Contract No. C150363 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Petrocco Family Limited Partnership, LLLP <br /> Address: 14110 Brighton Road, Brighton, Colorado, 80601 <br /> Contact: David Petrocco, Sr., General Partner <br /> Phone Number: 303-659-6498 <br /> E-mail address: davesr©petroccofarms.com <br /> Type of Entity: Limited Liability Limited Partnership <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used for the purchase of water rights, located in Adams County, to provide a more <br /> reliable water supply for future farming operations, hereinafter referred to as the <br /> PROJECT, at an estimated total cost of$925,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated August 2013 on the PROJECT, titled Feasibility of the Petrocco Farms Water <br /> Rights Purchase, which was prepared by Mike Serlet, P.E., with Serlet Project <br /> Consulting, LLC, with a water right analysis provided by TZA Water Engineers, Inc., <br /> and is incorporated herein by reference. Based upon the feasibility report, the <br /> CWCB determined the PROJECT to be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 and <br /> 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from <br /> the CWCB Construction Fund for the benefit of the people of the state, provided that <br /> the borrower assures repayment of that money. <br /> Section 37-60-122(1)(b), C.R.S., authorizes the CWCB to make loans of up to <br /> $10,000,000 from the CWCB's Construction Fund and the Severance Tax Perpetual <br /> Base Fund without prior approval from the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its September 2013 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $832,500 for PROJECT costs, <br /> with $8,325 for the loan origination fee of 1% of the cost of the PROJECT, in accordance <br /> with CWCB Policy No. 16, resulting in a total loan amount of $840,825 at an interest <br /> rate of 1.50% per annum for a repayment term of 20 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> No other debt backed by the same collateral. <br /> Appendix A, Amendment No. 1 to Loan Contract C150363 <br /> Page 1 of 3 <br />