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<br /> AGENCY NAME: Water Conservation Board
<br /> AGENCY NUMBER: PDA
<br /> V1041)
<br /> ROUTING NUMBER: CS — P)A - �,,-�C:G}X
<br /> • AN CONTRACT
<br /> THIS CONTRACT, made this 3 — day of September 2000, by and between the State of
<br /> Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br /> Conservation Board, hereinafter referred to as the CWCB and/or STATE, and Riverside Reservoir and
<br /> Land Company, a Colorado nonprofit corporation, 215 E. Kiowa, Fort Morgan, CO, 80701, hereinafter
<br /> referred to as the BORROWER and/or CONTRACTOR.
<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 payment in Fund
<br /> Number 424, Organization YYYY, Appropriation S00, GBL RRLQ Program WTRC, Object Code
<br /> 5881, Reporting Category: 0044, Contract Encumbrance Number C150044.
<br /> 2. Required approval, clearance, and coordination have been accomplished from and with
<br /> appropriate agencies.
<br /> 3. Pursuant to the provisions of §§ 37-60-119 and 37-60-120, C.R.S. (1999) the STATE is authorized
<br /> to loan money for the construction of water projects for the benefit of the people of the State,
<br /> provided that the borrower assures repayment of that money.
<br /> 4. The BORROWER is a duly constituted Colorado ditch company formed pursuant to and governed
<br /> by Articles 42 and 121 of Title 7, C.R.S., located in Morgan County, State of Colorado.
<br /> 5. The BORROWER has applied to the STATE for a loan to be used for rehabilitation of the
<br /> BORROWER'S diversion structure on the South Platte River, hereinafter referred to as PROJECT, at
<br /> a cost of $450,000.
<br /> 6. The STATE has reviewed a feasibility report compiled by Jack Odor, P.E., which is incorporated
<br /> herein by reference, and was financed in part by a $5,000 grant from CWCB, and, based upon
<br /> this feasibility report, the STATE determined the PROJECT to be technically and financially feasible.
<br /> 7. At its March 2000 meeting, the CWCB approved a loan to the BORROWER in an amount up to
<br /> $405,000, not to exceed 90% of the cost of the PROJECT, at an interest rate of 4% per annum for
<br /> a duration of 30 years, from the Severance Tax Perpetual Base Account.
<br /> 8. Pursuant to H.B. 00-1419, Section 1(1), the Colorado General Assembly authorized CWCB to
<br /> loan to the BORROWER an amount up to $405,000, hereinafter referred to as AUTHORIZED LOAN
<br /> AMOUNT, for the PROJECT.
<br /> 9. The STATE 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,
<br /> the parties agree as follows:
<br /> Riverside Reservoir and Land Company Page 1 of 12 Loan Contract C150044
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