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Project Summary — Brighton Ditch Company <br /> SECTION 1 —BORROWER INFORMATION <br /> Name: The Brighton Ditch Company <br /> Type of Entity: Nonprofit Corporation <br /> Address: 3350 Weld Co Rd 23, Fort Lupton, CO 80621 <br /> Contract Contact: Robert Sakata, President <br /> Phone Number: 303-659-1559 <br /> E-mail address: sakatafarms@aol.com <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to repair a <br /> breach in the South Platte River to restore flows to the Company's headgate to allow <br /> for continued irrigation and augmentation water to shareholders. The total estimated <br /> project cost is $530,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report <br /> dated July 2015 on the PROJECT, titled "Feasibility Report-Reconstruction of the <br /> South Platte River Breach Upstream of the Brighton Ditch Diversion,"which was <br /> prepared by Dawn Jewell, Executive Secretary of the Brighton Ditch Company, with <br /> assistance from Colby Hayden, P.E., of Deere & Ault Consultants, Inc., and is <br /> incorporated herein by this reference. Based upon the feasibility report, the CWCB <br /> determined the PROJECT to be technically and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 <br /> and 37-60-120, C.R.S., which authorizes the CWCB to loan money for water <br /> projects from the CWCB Construction Fund for the benefit of the people of the <br /> state, provided that the borrower assures repayment of that money. <br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br /> $10,000,000 from the CWCB's Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4- BOARD APPROVAL <br /> At its September, 2015 meeting the CWCB approved a Small Project Loan, from <br /> the Construction Fund to the BORROWER, in an amount up to $222,772 for PROJECT <br /> costs. CWCB's loan origination fee of 1% in the amount of $2,228, in accordance <br /> with CWCB Policy No. 16, added to the LOAN CONTRACT results in a total loan <br /> amount of $225,000, at an interest rate of 2.55% per annum for a repayment term <br /> of 30 years. <br /> SECTION 5—SCHEDULE OF EXISTING DEBT <br /> No other debt, backed by the loan security described in Section 6 below, exists. <br /> Appendix 1 <br /> Page 1 of 4 <br />