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Project Summary — Inverness Water and Sanitation District Contract No.C150409B SECTION 1 —BORROWER INFORMATION Name: Inverness Water and Sanitation District Type of Entity: The Inverness Water and Sanitation District is a Colorado Title 32 Special District formed pursuant to and governed by Title 32, Article 1, C.R.S. Address: 2 Inverness Drive East, Suite 200, Englewood, CO 80112 Contact: Patrick Mulhern, General Manager Phone Number: 303-649-9857 E-mail address: pat @mulhernmre.com SECTION 2—PROJECT DESCRIPTION A. Description of PROJECT: This loan contract, to be used for the District's participation in the Water Infrastructure and Supply Efficiency Project(WISE)to reduce the District's dependence on non-renewable water sources, and specific to the Phase 1 Infrastructure is defined as the"PROJECT". The Phase 1 Infrastructure project components included in this phase include a temporary direct connection to Aurora's distribution system to provide short-term deliveries, and modifications to the ECCV Western Pipeline necessary to make WISE water deliveries. Local components consist of several turnouts to be constructed to deliver water directly to WISE participants with systems adjacent to the pipeline. Additional pump stations will be constructed to deliver water to storage in Rueter-Hess Reservoir and convey water to participants located south of Rueter-Hess Reservoir. This phase includes two pump stations, and 45 miles of new pipelines varying between 8- and 42- inches in diameter. The District's total participation cost is estimated to be $5,454,000. The CWCB approved a total loan amount not to exceed $4,908,600, for the District's participation cost of WISE. The loan amount for this contract, for the Phase 1 Infrastructure is$1,181,700 which includes a one percent (1%) loan service fee of$11,700. B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated October 23, 2013 on the PROJECT, titled "Water Infrastructure and Supply Efficiency Project Loan Feasibility Study,"which was prepared by Black&Veatch, on behalf of the WISE Authority. This study includes an alternative analysis, conceptual design descriptions, exhibits, cost estimates, and financial statements audited by Simmons and Wheeler, PC. Additional clarification and information was provided by Eric Hecox and Rick Marsicek, P.E. of South Metro Water Supply Authority. Based upon the feasibility report, the CWCB determined the PROJECT to be technically and financially feasible. SECTION 3—CWCB'S AUTHORITY Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from the CWCB Construction Fund for the benefit of the people of the state, provided that the borrower assures repayment of that money. Appendix 1 to Loan Contract C150409B Page 1 of 4