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resulting in a loan service fee of$50,843 and a total loan amount of$5,135,183 for 30 <br /> years at the interest rate of 2.0%. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> As of the date of the CWCB loan approval, the ENTERPRISE has two outstanding <br /> obligations payable from the Carter Lake Hydro Facility Project pledged revenues as <br /> defined in the Carter Lake loan agreement with the Colorado Water Resources and <br /> Power Development Authority, and as defined in the Carter Lake loan agreement with the <br /> Northern Colorado Water Conservancy District, as shown in the table below: <br /> EXISTING ENTERPRISE DEBT <br /> Loan Maturity Remaining Annual Collateral <br /> Date Balance Payment <br /> CWRPDA— Carter Hydro Pledge of Carter <br /> Project 2032 $1,918,000 $122,313 Hydro Project <br /> power revenues <br /> Northern Water-Carter Pledge of Carter <br /> Hydro Project 2032 $4,539,000 $289,516 Hydro Project <br /> power revenues <br /> TOTAL $6,457,000 $411,829 <br /> SECTION 6—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> CWCB and Borrower hereby acknowledge and agree that the distribution of loan <br /> proceeds will occur after the following additional conditions and contract requirements <br /> are met by BORROWER. <br /> 1. Execution of the Lease of Power Privilege <br /> 2. Execution of the Power Purchase Agreement <br /> 3. Amend the Enterprise's existing Loan Agreements with the Colorado Water <br /> Resources and Power Development Authority and Northern Colorado Water <br /> Conservancy District to clarify the Carter Hydropower Plant pledged property. <br /> SECTION 7—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 /> Appendix 1 <br /> Page 2 of 4 <br />