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B. Consideration <br /> The Parties acknowledge that the mutual promises and covenants contained herein and other good and <br /> valuable consideration are sufficient and adequate to support this Grant. <br /> C. Purpose <br /> The Water Supply Reserve Account provides money for grants and loans to complete water activities,which <br /> are broadly defined and include water supply and environmental projects and studies. At the May 2014 <br /> board meeting,the CWCB approved a grant of$1,853,882.25,to the Grantee,to aid in the cost of the . <br /> purchase of 1,425 acre feet of storage space in the Chatfield Reallocation Project which was previously held <br /> by Western Mutual Ditch Company. <br /> D.References <br /> All references in this Grant to sections(whether spelled out or using the § symbol), subsections,exhibits or <br /> other attachments, are references to sections, subsections, exhibits or other attachments contained herein or <br /> incorporated as a part hereof, unless otherwise noted. <br /> 4.DEFINITIONS <br /> The following terms as used herein shall be construed and interpreted as follows: <br /> A. Budget <br /> "Budget"means the budget for the Work described in Exhibit A. <br /> B. Evaluation <br /> "Evaluation"means the process of examining Grantee's Work and rating it based on criteria established in <br /> §6 and Exhibit A. <br /> C. Exhibits and other Attachments <br /> The following are attached hereto and incorporated by reference herein: Exhibit A(Statement of Work), <br /> and Exhibit B(Performance Monitoring) <br /> D. Goods <br /> "Goods"means tangible material acquired,produced,or delivered by Grantee either separately or in <br /> conjunction with the Services Grantee renders hereunder. <br /> E. Grant <br /> "Grant"means this Grant, its terms and conditions,attached exhibits, documents incorporated by reference <br /> under the terms of this Grant, and any future modifying agreements, exhibits, attachments or references <br /> incorporated herein pursuant to Colorado State law, Fiscal Rules, and State Controller Policies. <br /> F. Grant Funds <br /> "Grant Funds"means available funds payable by the State to Grantee pursuant to this Grant. <br /> G.Party or Parties <br /> "Party"means the State or Grantee and"Parties"means both the State and Grantee. <br /> H.Program <br /> "Program"means the Water Supply Reserve Account grant program that provides the funding for this <br /> Grant. <br /> I.Review <br /> "Review"means examining Grantee's Work to ensure that it is adequate,accurate, correct and in <br /> accordance with the criteria established in§6 and Exhibit A. <br /> J. Services <br /> "Services"means the required services to be performed by Grantee pursuant to this Grant. <br /> K. Subgrantee <br /> "Subgrantee"means third-parties, if any,engaged by Grantee to aid in performance of its obligations. <br /> L. Work <br /> "Work"means the tasks and activities Grantee is required to perform to fulfill its obligations under this <br /> Grant and Exhibit A including the performance of the Services and delivery of the Goods. <br /> Page 2 of 15 <br />