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SECTION 4-BOARD APPROVAL <br /> At its May 22, 2014 meeting the CWCB approved loans, from the Construction Fund to the <br /> BORROWER, in an amount up to $4,860,000 for the WISE PROJECT costs with a loan service <br /> fee of 1% in accordance with CWCB Policy No. 16 resulting in a loan service fee of$48,600 <br /> and a total loan amount of$4,908,600, at an interest rate of 2.75% per annum for a repayment <br /> term of 20 years. There will be a total of four(4) CWCB contracts. <br /> SECTION 5—SECTION 5—SCHEDULE OF EXISTING PARITY BONDS <br /> As of the date of this LOAN CONTRACT, the DISTRICT has outstanding the following obligations <br /> which obligations constitute PARITY OBLIGATIONS under the LOAN CONTRACT. <br /> EXISTING PARITY BONDS <br /> Original Current Annual Maturity <br /> Lender Collateral <br /> Balance Balance Payment Date <br /> Series 2012 Bonds $ 10,000,000 $ 9,570,000 $ 668,723 12/1/2022 Property Tax Levy <br /> Totals $ 10,000,000 $ 9,570,000 $ 668,723 <br /> SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> NONE. <br /> SECTION 7—CONSTRUCTION FUND PROGRAM PROCEDURES <br /> A. The BORROWER shall employ an engineer, registered in the state of Colorado to prepare <br /> plans and specifications for the PROJECT. <br /> B. Engineering contracts, plans and specifications must be submitted to the CWCB staff for <br /> verification of compliance with the terms of this CONTRACT when available prior to bidding. <br /> Any modifications to the plans and specifications must be approved in writing by the <br /> CWCB staff. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by § 37- <br /> 87-105 C.R.S., the BORROWER shall provide a letter of approval from the State Engineer's <br /> Office prior to construction. <br /> D. The BORROWER shall extend an invitation to CWCB to be present at the bid opening. <br /> E. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, which said Construction Firms shall be selected by the <br /> BORROWER and found acceptable by the CWCB staff. <br /> F. The BORROWER must provide a copy of the executed construction contract documents <br /> consisting of the contractor's proposal, construction contract, performance bond, payment <br /> bond, notice of award, notice to proceed, sample change order, and sample field order, as <br /> well as the advertisement for bid and bid bond at bidding. After the CWCB staff verifies <br /> Appendix 1 to Loan Contract C150409D <br /> Page 2 of 4 <br />