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BORROWER: BELLYACHE RIDGE AGENCY NAME: COLORADO WATER METROPOLITAN DISTRICT ACTING BY AND CONSERVATION BOARD THROUGH ITS BELLYACHE RIDGE WATER AGENCY NUMBER: PDA ENTERPRISE CONTRACT TYPE: LOAN/PUBLIC CONTRACT NO: C150356 CWCB CMS #66738 REQUESTED LOAN AMOUNT $167,500 LOAN SERVICE FEE $1,675 LOAN AMOUNT$169,175 LOAN CONTRACT (STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10,2003) THIS CONTRACT, made between the State of Colorado for the use and benefit of The Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or "STATE"), and the Bellyache Ridge Metropolitan District acting by and through its Bellyache Ridge Water Enterprise, do Robertson & Marchetti P.C., 28 Second Street, Suite 213, Edwards, Colorado, 81632, ("BORROWER"). FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for encumbering and subsequent payment of this CONTRACT under: Contract Encumbrance No. C150356, Fund Number 424, Appropriation Code M14, Organization YYYY, GBL B356, Program WTRC, Object Code 5560, Reporting Category 0356; and 2. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies; and 3. On July 17, 2013, the CWCB approved a loan request, from the BORROWER, for the Well Replacement Project ("PROJECT") to drill a replacement well which will provide the District with a long term water source. A contract was not executed at that time. On March 19, 2014, CWCB approved a change to the loan contract that included changing the BORROWER from Bellyache Ridge Metropolitan District to Bellyache Ridge Metropolitan District acting by and through its Bellyache Ridge Water Enterprise and a change of pledged collateral from mill levy revenues and annual financial reporting to user fees and rates and annual financial reporting. The total cost of the PROJECT is $335,000. The total loan contract is for $169,175 with an interest rate of 3.0% for a term 30 years; and 4. ThE PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's authority for making this loan (Section 3), and CWCB Approval and Legislative Authorization which identifies the amount of the loan and the terms of repayment (Section 4); and 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this Loan Contract C150356 Page 1 of 12