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BORROWER: CENTRAL COLORADO WATER AGENCY NAME: COLORADO WATER CONSERVANCY DISTRICT CONSERVATION BOARD REQUESTED LOAN AMOUNT: $6,931,000 CONTRACT TYPE: LOAN/PUBLIC LOAN SERVICE FEE: $69,310 CMS NUMBER: 72518/C150407C TOTAL LOAN AMOUNT: $7,000,310 CORE NUMBER: CT2016-2060 LOAN CONTRACT This contract ("CONTRACT") is made between the State of Colorado for the use and benefit of The Department of Natural Resources, Colorado Water Conservation Board `CWCB" or "State"), and Central Colorado Water Conservancy District, 3209 W. 28tn Street, Greeley, Colorado, 80634, a Colorado Title 37 Water Conservancy District ("BORROWER" or "DISTRICT"). FACTUAL RECITALS 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made available and a sufficient unencumbered balance thereof remains available for encumbering and subsequent payment of this CONTRACT; and 2. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies; and 3. For the purposes of this LOAN CONTRACT, the District's participation in the Chatfield Reallocation Project, specific to "off-site" "compensatory mitigation features" and "monitoring" as defined in the Agreement Between the Department of the Army and the Colorado Department of Natural Resources for Reallocation of Water Storage Space, Recreation Modifications, and Compensatory Mitigation Features at the Chatfield Dam and Reservoir, Colorado dated October 9, 2014, incorporated herein by reference is defined as the "PROJECT." The District's total participation cost is estimated to be $28,170,000. On May 22, 2014 the CWCB approved a total loan amount not to exceed $28,451,700 for the District's participation cost of the Chatfield Reallocation Project, to improve the operation of the District's augmentation plan. The loan amount, for this CONTRACT, for these PROJECT activities, is $7,000,310, which includes a one percent (1%) loan service fee of $69,310 at an interest rate of 1.75% for 30 years; and 4. The PROJECT SUMMARY, attached as APPENDIX 1 and incorporated herein, contains BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's authority for making this loan (Section 3), and CWCB Approval and Legislative Authorization (Section 4), identifying the amount of the loan and the terms of repayment. The PROJECT SUMMARY also contains sections on BORROWER'S debt, collateral, procedures and eligible expenses; and 5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this PROJECT upon mutually agreeable terms and conditions. Page 1 of 12