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BORROWER: UPPER PLATTE AND BEAVER AGENCY NAME: COLORADO WATER <br /> CANAL COMPANY CONSERVATION BOARD/PDA <br /> CWCB CMS#71731 CONTRACT TYPE: LOAN/PRIVATE <br /> PROJECT AMOUNT: $189,000 CORE NO. 2015-101 <br /> LOAN SERVICE FEE: $1,890 <br /> LOAN AMOUNT: $190,890 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT is made between the State of Colorado for the use and benefit of <br /> The Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or <br /> "State"), and the Upper Platte and Beaver Canal Company, 28601 Hwy. 34, Brush,. <br /> Colorado 80723, a Colorado nonprofit corporation ("BORROWER"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and <br /> otherwise made available and a sufficient unencumbered balance thereof remains <br /> available for encumbering and subsequent payment of this CONTRACT; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and <br /> with appropriate agencies; and <br /> 3. On July 17, 2014 the CWCB approved a loan request from the BORROWER for the <br /> Hospital Road Recharge Facility and Bridge Widening Project ("PROJECT")to construct <br /> an augmentation pond to adjust the timing of the recharge flows to the South Platte <br /> River and to widen the existing bridge at its main diversion facilities for improved <br /> maintenance access. The total estimated project cost is $210,000. The total loan <br /> amount of$190,890 which includes a one percent (1%) loan origination fee of$1,890 <br /> is payable over ten (10) years at an interest rate of 1.75%; and <br /> 4. 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 (Section 4), identifying the amount of the loan and the terms of <br /> repayment. The PROJECT SUMMARY also contains sections on BORROWER'S debt, <br /> collateral, procedures and eligible expenses. <br /> 5. 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 /> Page 1 of 12 <br />