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SECTION 5—SCHEDULE OF EXISTING DEBT <br /> The Company has an existing CWCB loan shown in the table below. The loan is current <br /> and in good standing. <br /> Loan Original Current Annual Maturity Collateral <br /> Balance Balance Payment Date <br /> CWCB (C150272) $255,530 $249,709 $10,857 2042 Assessment Revenues <br /> SECTION 6 -COLLATERAL <br /> The COLLATERAL provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 4) and DEED OF TRUST (APPENDIX 5) and incorporated herein, <br /> shall be a pledge of assessment revenues backed by a rate covenant as evidenced <br /> by annual financial reporting and the Farmers Pawnee Canal Company Diversion <br /> Structure as more particularly described in the attached DEED OF TRUST <br /> ("COLLATERAL") which is incorporated herein. This is in accordance with CWCB <br /> Financial Policy #5 (COLLATERAL). <br /> SECTION 7—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> No additional conditions or contract requirements <br /> SECTION 8—CONSTRUCTION FUND PROGRAM PROCEDURES <br /> A. The BORROWER shall employ an engineer, registered in the State of Colorado to <br /> prepare plans and specifications for the PROJECT. <br /> B. Engineering Contracts and the plans and specifications must be submitted to the <br /> CWCB staff for verification of compliance with the terms of this CONTRACT when <br /> available prior to bidding. Any modifications, to the plans and specifications that <br /> effect changes to the construction costs must be approved in writing by CWCB. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by <br /> § 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br /> Engineer's Office prior to construction. <br /> D. The BORROWER shall notify CWCB of the bid opening date, time and location. <br /> CWCB staff may elect to attend the bid opening. <br /> E. CWCB must approve the award of the construction contract. <br /> F. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, which are found acceptable by the CWCB staff. <br /> G. The BORROWER must provide a copy of the executed construction contract <br /> documents consisting of the contractor's proposal, construction contract, <br /> performance bond, payment bond, notice of award, notice to proceed, sample <br /> change order, and sample field order, as well as the advertisement for bid and bid <br /> Appendix 1 to Loan Contract C150394 <br /> Page 2 of 4 <br />