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BORROWER: DOLORES WATER Agency Name: Water Conservation Board <br /> CONSERVANCY DISTRICT Agency Number PDA <br /> Contract No. C150153 Routing Number 04 PDA <br /> Project Amount: $592,137 <br /> Loan Service Fee $5,921 <br /> Loan Amount $598,058 ` <br /> 411144) <br /> LOAN CONT ,* T <br /> (STANDARD CONTRACT-WAIVER#160-APPROVED N et.EMB O 0 <br /> THIS CONTRACT, made this March 1, 2004, by and between the o Oolorado for <br /> the use and benefit of the Department of Natural Resources, Colorado Wate @fonservation <br /> Board ("CWCB" or "STATE"), and the Dolores Water Conservancy District, acting by and <br /> through the Dolores Water Conservancy District Water Activity Enterprise, P.O. Box 1150, <br /> Cortez, CO 81321 ("BORROWER"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br /> made available and a sufficient unencumbered balance thereof remains available for <br /> encumbering and subsequent payment of this contract under: Contract Encumbrance <br /> No. C150153, Fund Number 424, Appropriation Code MC4, Organization YYYY, GBL <br /> D153, Program WTRC, Object Code 5560, Reporting Category 0153. <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies. <br /> 3. 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 Legisl tive <br /> Authorization which identifies the amount of the loan and the terms of repayment <br /> (Section 4). <br /> 4. 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. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br /> amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2) <br /> a service fee of one percent (1%) of the PROJECT amount. In the event that the <br /> BORROWER does not use the LOAN AMOUNT authorized, the parties shall amend this <br /> contract to revise the LOAN AMOUNT including adjustment of the service fee to reflect <br /> 1% of the actual LOAN AMOUNT disbursed to the BORROWER. <br /> 2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br /> Page 1 of 10 <br />