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PROJECT SUMMARY — Lone Cabin Ditch & Reservoir Company <br /> Contract No. C150361 <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: Lone Cabin Ditch & Reservoir Company, a Colorado <br /> nonprofit corporation <br /> Address: 42384 Lamborn Mesa Road, Paonia, Colorado 81428 <br /> Contact: James Briscoe, Attorney <br /> Phone Number: 970-872-3118 <br /> E-mail address: jrb112943 @aol.com <br /> Type of Entity: Colorado nonprofit corporation <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied for a CWCB loan to be used for <br /> the repair of the Lone Cabin Dam, located in Delta County and removal of the fill <br /> restriction placed on the dam by the State Engineers Office and hereinafter referred <br /> to as the PROJECT. The repair will include the excavation of the slumped area and <br /> placement of filter material to drain to a new toe drain. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated May 16, 2013 on the PROJECT, titled "Geotechnical and Design Report- Lone <br /> Cabin Dam Rehabilitation,"which was prepared by James Briscoe and includes <br /> preliminary engineering design and construction cost estimates prepared by <br /> Norman J. Aufderheide, P.E., Buckhorn Geotech, Inc. and is incorporated herein by <br /> reference. Based upon the feasibility report, the CWCB determined the PROJECT to <br /> 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 Severance Tax Perpetual <br /> Base Fund without prior approval from the General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its September 2013 meeting, the CWCB approved a Small Project Loan from the <br /> Construction Fund to the BORROWER in an amount up to $250,300 for PROJECT costs <br /> with $2,503 for the loan origination fee of 1% of the cost of the PROJECT, in accordance <br /> with CWCB Policy No. 16, resulting in a total loan amount of $252,803 at an interest <br /> rate of 1.75% per annum for a repayment term of 30 years. <br /> Appendix 1 to Loan Contract C150361 <br /> Page 1 of 4 <br />