C150392 Contract

• Contract/PO #: C150392
• Contractor Name: Sylvan Dale Ranch, LLLP
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

BORROWER: SYLVAN DALE RANCH, LLLP AGENCY NAME: COLORADO WATER
CONTRACT NO. C150392 CONSERVATION BOARD
PROJECT AMOUNT $104,130 AGENCY NUMBER: PDA
LOAN SERVICE FEE $1,041 CONTRACT TYPE: LOAN/PRIVATE
LOAN AMOUNT $105,171 CWCB CMS #69471
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 Sylvan Dale Ranch, LLLP, 2939 N CR 31 D, Loveland, Colorado, 80538,
("BORROWER"), a Limited Liability Limited Partnership.
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.
2. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies; and
3. On May 22, 2014 the CWCB approved a loan request from the BORROWER for the
Emergency Irrigation Pond Excavation Project to repair damages caused by the 2013
flood event ("PROJECT"). The total estimated project cost is $104,130. The total loan
amount is $105,171 which includes a one percent (1%) loan service fee of $1,041.
This loan was approved as a 30 year loan with no payments and zero interest for the
first three years followed by 27 years of amortized payments at the interest rate of
1.75%.
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 (Section 4), identifying the amount of the loan and the terms of
repayment. The PROJECT SUMMARY also contains sections on BORROWER's debt,
collateral, procedures and eligible expenses.
5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this
PROJECT upon mutually agreeable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:
A. LOAN PROVISIONS
Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the
amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2)
a service fee of one percent (1 %) of the PROJECT amount. In the event that the
BORROWER does not use the LOAN AMOUNT authorized, the parties shall amend this
Loan Contract C150392
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