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BORROWER: CENTRAL COLORADO WATER AGENCY NAME: COLORADO WATER <br /> CONSERVANCY DISTRICT CONSERVATION BOARD <br /> REQUESTED LOAN AMOUNT: $3,156,000 CONTRACT TYPE: LOAN/PUBLIC <br /> LOAN SERVICE FEE: $31,560 CMS NUMBER: 72516/C150407A <br /> TOTAL LOAN AMOUNT: $3,187,560 CORE NUMBER: CT2016-2057 <br /> LOAN CONTRACT <br /> This contract ("CONTRACT") is made between the State of Colorado for the use and benefit <br /> of The Department of Natural Resources, Colorado Water Conservation Board `CWCB" <br /> or "State"), and Central Colorado Water Conservancy District, 3209 W. 28t Street, <br /> Greeley, Colorado, 80634, a Colorado Title 37 Water Conservancy District ("BORROWER" <br /> or"DISTRICT"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and <br /> otherwise made available and a sufficient unencumbered balance thereof remains <br /> available for encumbering and subsequent payment of this CONTRACT; and <br /> 2. Required approval, clearance, and coordination have been accomplished from and <br /> with appropriate agencies; and <br /> 3. For the purposes of this CONTRACT, the District's participation in the Chatfield <br /> Reallocation Project, specific to the "first cost of storage"as defined in the Agreement <br /> between the Department of the Army and the Colorado Department of Natural <br /> Resources for Reallocation of Water Storage Space, Recreation Modifications, and <br /> Compensatory Mitigation Features at the Chatfield Dam and Reservoir, Colorado <br /> dated October 9, 2014, incorporated herein by reference is defined as the "PROJECT." <br /> The District's total participation cost is estimated to be $28,170,000. On May 22, 2014 <br /> the CWCB approved a total loan amount not to exceed 28,451,700 for the District's <br /> participation cost of the Chatfield Reallocation Project, to improve the operation of the <br /> District's augmentation plan. The total loan amount, for this CONTRACT, for the first <br /> cost of storage, is $3,187,560, which includes a one percent (1%) loan service fee of <br /> $31,560 at an interest rate of 1.75% for 30 years; and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains <br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's <br /> authority for making this loan (Section 3), and CWCB Approval and Legislative <br /> Authorization (Section 4), identifying the amount of the loan and the terms of <br /> repayment. The PROJECT SUMMARY also contains sections on BORROWER'S debt, <br /> collateral, procedures and eligible expenses; and <br /> 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions. <br /> Page 1 of 12 <br />