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BORROWER:ST.VRAIN AND LEFT HAND WATER AGENCY NAME: COLORADO WATER <br /> CONSERVANCY DISTRICT ACTING BY AND CONSERVATION BOARD <br /> THROUGH ITS WATER ACTIVITY ENTERPRISE CONTRACT TYPE:LOAN/PUBLIC <br /> BASE LOANAMOUNT: 613,000.00 CMS: 96802/CORE NUMBER:CT2017-3213 <br /> LOAN ORIGINATION FEE:$6,i3o.00 <br /> TOTAL LOAN AMOUNT: $619,13o.00 <br /> LOAN CONTRACT <br /> THIS CONTRACT is made between the State of Colorado for the use and benefit of The <br /> Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or <br /> "State"), and St. Vrain and Left Hand Water Conservancy District, 9595 Nelson Road, <br /> Suite 203, Longmont, Colorado, 805o1, a Colorado Title 37 Water Conservancy District, <br /> acting by and through its water activity enterprise ("BORROWER"or"DISTRICT"). <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 with <br /> appropriate agencies;and <br /> 3. On January 23, 2017, the CWCB approved a loan request from the BORROWER for the <br /> Lake 4 Outlet Pipeline Repair ("PROJECT") to fix leaks in Lake 4's outlet pipeline. The <br /> total estimated Project Cost is $911,75o.00. The total loan amount ("TOTAL LOAN <br /> AMOUNT") of $61g,i3o.00 which includes a one percent (i%) loan origination fee of <br /> $6,i3o.00 is payable over 30 years at an interest rate of 2.85%;and <br /> 4. The PROJECT SUMMARY, attached as APPENDIX i, and incorporated herein contains <br /> BORROWER Information (Section i), 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 the BORROWER'S existing <br /> debt, contract requirements, procedures, eligible expenses, disbursement schedule and <br /> time for performance. <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 />