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Feasibility Study for the Plaza Project — Phase 2: McDonald Ditch Implementation Project Section 11- Collateral The McDD Company can offer the following collateral for the CWCB loan: 1. The revenue from assessments as allowed by the Company By -Laws and Articles of Incorporation. 2. A certificate of deposit account in the amount of one annual payment to be held by the State Treasurer. 3. The project itself. Section 12 - Social, Economic, and Physical Impacts The project will improve the social, economic, and physical condition of the Rio Grande in the Project reach. The social condition will be influenced by the diversion, which will include fish and boat passage. This will lead to improved condition of the fisheries and opportunity for recreation. The economic condition will be improved as maintenance costs will be reduced and the proposed McDD diversion and headgate automation will more efficiently provide irrigation water to the stockholders. The physical condition of the project area will be improved as the wetland condition, streambank stability, riparian and aquatic habitat, and McDD diversion and headgate will be enhanced. Section 13 - Permitting The McDD and the Engineers believe no Environmental Assessment (EA) or Environmental Impact Statement (EIS) will be required. Work surrounding the McDD diversion and headgate is associated with agricultural and will fall under the Nation Wide Permits, which do not require formal permitting. The work on the wetland and streambanks will be permitted under the US Army Corps of Engineers' ( USACE) 404 permits. The local USACE representative has been involved in this project throughout the planning phase. As such, not permitting issues are anticipated. Section 14 - Institutional Considerations Entities that are, or may be, involved in the management, design, construction and financing of the project include: • McDonald Ditch Company: project owner, co- sponsor, financing, and project management; • Colorado Rio Grande Restoration Foundation and Rio Grande Headwaters Restoration Project: project co- sponsor, financing, and project management; • Natural Resources Conservation Service: financing, design, and construction; • Colorado Water Conservation Board: financing and construction; • Rio Grande County: financing and construction; • San Luis Valley Rural Electric Cooperative: construction. McDD and RGHRP are the co- sponsors of the Project. McDD will enter into contracts with CWCB for a loan and with the NRCS. RGHRP already has contracts with CWCB for a grant and NRCS in place. 24