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BORROWER: BOW MAR WATER AND AGENCY NAME: COLORADO WATER <br /> SANITATION DISTRICT CONSERVATION BOARD <br /> REQUESTED LOAN AMOUNT: $329,500 CONTRACT TYPE: LOAN/PUBLIC <br /> LOAN ORIGINATION FEE: $3,295 CWCB CMS:85680/CORE: CT2016-2516 <br /> TOTAL LOAN AMOUNT: $332,795 <br /> LOAN CONTRACT <br /> This contract ("CONTRACT"or"LOAN CONTRACT")) is made between the State of Colorado <br /> for the use and benefit of The Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB" or "State"), and the Bow Mar Water and Sanitation District, <br /> 8739 W. Coal Mine Ave., Littleton, Colorado, 80123 ("BORROWER"OR"DISTRICT"), a Title 32 <br /> Special District formed under the Colorado Revised Statues. <br /> FACTUAL RECITALS <br /> 1. CWCB 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. On March 19, 2015, the CWCB approved a loan request from the BORROWER for the <br /> Rehabilitation and Replacement of Water Meters ("PROJECT"). The PROJECT includes <br /> removal and replacement of 233 meters and the rehabilitation of 60 existing meters by <br /> replacing meter registers to accommodate automatic meter reading. The District will <br /> acquire automatic meter reading equipment and update its current billing software for <br /> compatibility with the new equipment. The total estimated project cost is $366,102. <br /> The total loan amount of $332,795 which includes a one percent (1%) loan origination <br /> fee of$3,295 is payable over 10 years at an interest rate of 2.65%; 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. <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 /> THEREFORE, in consideration of the mutual and dependent covenants contained herein, <br /> the parties agree as follows: <br /> Page 1 of 13 <br />