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BORROWER: IULESBURG IRRIGATION AGENCY NAME: COLORADO WATER <br /> DISTRICT CONSERVATION BOARD <br /> BASE LOAN AMOUNT:$201,600 CONTRACT TYPE: LOAN/PUBLIC <br /> LOAN ORIGINATION FEE:$2,016 CWCB CMS:90665/CORE: CT2o17-9o4 <br /> TOTAL LOAN AMOUNT:$203,616 <br /> LOAN CONTRACT <br /> This contract ("CONTRACT" or "LOAN CONTRACT") is made between the State of <br /> Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB" or "State"), and Julesburg Irrigation District, 315 Cedar <br /> Street, Suite 150, Julesburg, Colorado, 80737, ("BORROWER"), organized and existing as an <br /> Irrigation District pursuant to C.R.S. §37-41-101 to §37-41-160 ("BORROWER"OR"DISTRICT"). <br /> FACTUAL RECITALS <br /> i. 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 with <br /> appropriate agencies; and <br /> 3. On May 18, 2016 the CWCB approved a loan request from the BORROWER for the <br /> Reconstruction of the Harmony No.1 Measurement Structure ("PROJECT") to reconstruct <br /> an existing structurally damaged 20-foot Parshall flume to avoid future failure.The total <br /> estimated Project Cost is $224,000 The total loan amount ("TOTAL LOAN AMOUNT") of <br /> $203,616, which includes a one percent (1%) loan origination fee of 2,016, is payable over <br /> 3o years at an interest rate of 1.7o%;and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX i, 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 or 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, pledged <br /> revenues and property, 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 <br /> herein, the parties agree as follows: <br /> A. DEFINITIONS <br /> The following terms as used herein shall be construed and interpreted as follows: <br /> Page 1 of 14 <br />