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Project Summary - Wadley Farms, Filing No. 3 Homeowner's <br /> Association - Contract No. C150379 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Wadley Farms, Filing No. 3 Homeowner's Association, a <br /> Colorado nonprofit corporation <br /> Address: 1499 West 121st Ave., #100, Westminster, Colorado, 80234 <br /> Contact: Brett Ginther, Director/Treasurer <br /> Phone Number: 303-912-1455 <br /> E-mail address: blginther @msn.com <br /> Type of Entity: A Colorado nonprofit corporation <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, at an estimated total cost of $800,000, is <br /> located in Adams County and hereinafter referred to as the PROJECT. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report, <br /> on the Project, dated September 30, 2013, titled: "Wadley Farms No. 3 Water <br /> Supply CWCB Loan Feasibility Study-Acquisition of Additional Water Supply," <br /> prepared by Carol Ellinghouse, P.E., which includes an alternative analysis, cost <br /> estimates, and a water supply analysis form Bishop-Brogden Associates, Inc. and <br /> is incorporated herein by reference. Based upon the feasibility report, the CWCB <br /> 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 State Severance Tax Trust <br /> Fund Perpetual Base Account Fund without prior approval from the General <br /> Assembly. <br /> SECTION 4- BOARD APPROVAL AND LEGISLATIVE AUTHORIZATION <br /> At its November 2013 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $720,000 for PROJECT costs, <br /> not to exceed 90% of the cost of the PROJECT, with a loan origination fee of 1% in <br /> accordance with CWCB Policy No. 16, resulting in a total loan amount of $727,200 at <br /> an interest rate of 3.00% per annum for a repayment term of 30 years. <br /> Appendix 1 to Loan Contract C150379 <br /> Page 1 of 3 <br />