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BORROWER: CASTLE PINES NORTH AGENCY NAME: COLORADO WATER
<br /> METROPOLITAN DISTRICT ACTING BY AND CONSERVATION BOARD
<br /> THROUGH ITS WATER ACTIVITY ENTERPRISE CONTRACT TYPE: LOAN/PUBLIC
<br /> REQUESTED LOAN AMOUNT: $1,572,000 CWCB C150404C/CMS: 72704
<br /> LOAN ORIGINATION FEE: $15,720 CORE: CT2016-2051
<br /> TOTAL LOAN AMOUNT: $1,587,720
<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 Castle Pines North Metropolitan District, acting by and through its Water
<br /> Activity Enterprise, 7404 Yorkshire Drive, Castle Pines, Colorado, 80108, a Colorado
<br /> Title 32 Special District, acting by and through its Water Activity Enterprise,
<br /> ("BORROWER"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 LOAN CONTRACT, the District's participation in the Chatfield
<br /> Reallocation Project, specific to "off-site" "compensatory mitigation features" and
<br /> "monitoring" as defined in the Agreement Between the Department of the Army and
<br /> the Colorado Department of Natural Resources for Reallocation of Water Storage
<br /> Space, Recreation Modifications, and Compensatory Mitigation Features at the
<br /> Chatfield Dam and Reservoir, Colorado dated October 9, 2014, incorporated herein by
<br /> reference is defined as the "PROJECT." The District's total participation cost is
<br /> estimated to be $7,100,000. On May 22, 2014 the CWCB approved a total loan
<br /> amount not to exceed $6,453,900 for the District's participation cost of the Chatfield
<br /> Reallocation Project. The loan amount, for this CONTRACT, for these PROJECT
<br /> activities, is $1,587,720, which includes a one percent (1%) loan service fee of
<br /> $15,720 at an interest rate of 3.00% 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 /> {00466504.DOCX I}
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