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• a <br /> BORROWER: PLATTE VALLEY IRRIGATION Agency Name: Water Conservation Board <br /> COMPANY Agency Number PDA <br /> Contract No. C150235 E) wqr , Routing Number 07 PDA ©Q0 7C0 <br /> Project Amount $2,365,000 .E „ ..rte <br /> Loan Service Fee $23,650 i <br /> Loan Amount $2,388,650 <br /> Oki ..t. <br /> LOAN ,. i. RACT <br /> (STANDARD CONTRACT—WAIVER#160—APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT, made this January 10, 2007, is by and between the State of <br /> Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB" or "STATE"), and Platte Valley Irrigation Company, 1135 8th <br /> Avenue, Suite B, Greeley, CO 80632 ("BORROWER"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br /> made available and a sufficient unencumbered balance thereof remains available for <br /> encumbering and subsequent payment of this contract under: Contract Encumbrance <br /> No. C150235, Fund Number 424, Appropriation Code MS7, Organization YYYY, GBL <br /> P235, Program WTRC, Object Code 5882, Reporting Category 0235. <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies. <br /> 3. The PROJECT Summary, attached as Appendix 1 and incorporated herein, contains <br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's <br /> authority for making this loan (Section 3), and CWCB Approval and Legislative <br /> Authorization which identifies the amount of the loan and the terms of repayment <br /> (Section 4). <br /> 4. The CWCB now desires, by this contract, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions. <br /> THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br /> amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2) <br /> a service fee of one percent (1%) of the PROJECT amount. In the event that the <br /> BORROWER does not use the LOAN AMOUNT authorized, the parties shall amend this <br /> contract to revise the LOAN AMOUNT including adjustment of the service fee to reflect <br /> 1% of the actual LOAN AMOUNT disbursed to the BORROWER. <br /> 2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br /> shall be assessed a fee for amending the contract. <br /> Loan Contract C150235 <br /> Page 1 of 11 <br />