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PROJECT SUMMARY Green Ditch Company Contract No. C150383 SECTION 1 —BORROWER INFORMATION Name: Green Ditch Company, a Colorado nonprofit corporation Address: 229 Terry Street, Longmont, Colorado 80501 Contact: Anne Smith Phone Number: 303-772-0628 E-mail address: annesmith @ertlinc.com Type of Entity: Colorado nonprofit corporation SECTION 2—PROJECT DESCRIPTION A. Description of PROJECT: The BORROWER applied to the CWCB for a loan for the Emergency Green Ditch Channel Repair to repair the damage to the diversion structure and ditch channel, caused by the 2013 flood event, and restore the operation of the Green Ditch ("PROJECT"). The PROJECT is located in Boulder County and the estimated PROJECT cost is $525,000. B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated November 1, 2013 on the PROJECT, titled "Emergency Loan Application and Feasibility Study", which was prepared by Anne Smith, President, Green Ditch Company, Longmont, Colorado, with assistance from Olsson Associates, and is incorporated herein by reference. Based upon the feasibility report, the CWCB determined the PROJECT to be technically and financially feasible. SECTION 3—CWCB's AUTHORITY Severance Tax Perpetual Base Fund: This loan is made pursuant to the provisions of §§ 39-29-109(1)(a)(I), 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from the CWCB Severance Tax Perpetual Base Fund for the benefit of the people of the state, provided that the BORROWER assures repayment of that money. Section 37-60-122(1)(b), C.R.S., authorizes the CWCB to make loans of up to $10,000,000 from the CWCB's Construction Fund and the State Severance Tax Trust Fund Perpetual Base Account Fund without prior approval from the General Assembly. SECTION 4- BOARD APPROVAL At its November 20, 2013 meeting, the CWCB approved a Small Project Loan from the Severance Tax Perpetual Base Fund to the BORROWER in an amount up to $525,000 for PROJECT costs, not to exceed 100% of the cost of the PROJECT, with a loan origination fee of 1% of the cost of the PROJECT, in accordance with CWCB Policy No. 16, resulting in a total loan amount of $530,250 for 30 years with no payments and zero interest for the first three years followed by 27 years of amortized payments at the interest rate of 2.50%. Appendix 1 to Loan Contract C150383 Page 1 of 4