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BORROWER: INVERNESS WATER AND AGENCY NAME: COLORADO WATER <br /> SANITATION DISTRICT CONSERVATION BOARD/PDA <br /> PROJECT AMOUNT: 1,170,000 CONTRACT TYPE: LOAN/PUBLIC <br /> LOAN SERVICE FEE: $11,700 CWCB C150409B CMS: 70922 <br /> LOAN AMOUNT: $1,181,700 CORE: CT2015-118 <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 The Department of <br /> Natural Resources, Colorado Water Conservation Board ("CWCB" or "State"), and Inverness Water <br /> and Sanitation District, 2 Inverness Drive East, Suite 200, Englewood, CO 80112, a Colorado Title 32 <br /> Special District, ("BORROWER"or"DISTRICT"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made <br /> available and a sufficient unencumbered balance thereof remains available for encumbering and <br /> subsequent payment of this CONTRACT; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and with appropriate <br /> agencies; and <br /> 3. For the purposes of this loan contract, the District's participation in the Water Infrastructure and <br /> Supply Efficiency Project (WISE) to reduce the District's dependence on non-renewable water <br /> sources, and specific to the Phase 1 Infrastructure is defined as the "PROJECT". The District's total <br /> participation cost is estimated to be $5,454,000. On May 22, 2014 the CWCB approved a total loan <br /> amount not to exceed $4,908,600, for the District's participation cost of WISE. The loan amount for <br /> this contract, for the Phase 1 Infrastructure, is $1,181,700 which includes a one percent (1%) loan <br /> service fee of$11,700 at an interest rate of 2.75% for 20 years; and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains BORROWER <br /> Information (Section 1), the PROJECT Description (Section 2), CWCB's authority for making this loan <br /> (Section 3), and CWCB Approval and Legislative Authorization (Section 4), identifying the amount <br /> of the loan and the terms of repayment. The PROJECT SUMMARY also contains sections on <br /> BORROWER'S debt, collateral, procedures and eligible expenses; and <br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this PROJECT upon <br /> mutually agreeable terms and conditions. <br /> THEREFORE, in consideration of the mutual and dependent covenants contained herein, the <br /> parties agree as follows: <br /> Loan Contract C150409B <br /> Page 1 of 12 <br />