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BORROWER: BOULDER & LEFT HAND AGENCY NAME: COLORADO WATER <br /> IRRIGATION COMPANY CONSERVATION BOARD <br /> CONTRACT NO. C150357 AGENCY NUMBER: PDA <br /> PROJECT AMOUNT $157,500 CONTRACT TYPE: LOAN/PRIVATE <br /> LOAN SERVICE FEE $1,575 CWCB CMS #62283 <br /> LOAN AMOUNT $159,075 <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 Boulder & Left Hand Irrigation Company, 157 Baylor Way, Longmont, CO <br /> 80503, ("BORROWER"), a Colorado nonprofit corporation. <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 Encumbrance <br /> No. C150357, Fund Number 424, Appropriation Code M14, Organization YYYY, GBL <br /> B357, Program WTRC, Object Code 5882, Reporting Category 0357; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies; and <br /> 3. On July 17, 2013 the CWCB approved a loan request from the BORROWER for the Tracy <br /> Lateral Pipeline at the Wederquist "Y" Project to install a new diversion structure <br /> upstream of the Wederquist "Y" and improve the hydraulic efficiency of the ditch while <br /> reducing the Irrigation Company's operation and maintenance cost ("PROJECT"); 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 /> 1. 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 /> CONTRACT to revise the LOAN AMOUNT including adjustment of the service fee to reflect <br /> Loan Contract C150357 <br /> Page 1 of 11 <br />