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SECTION 5-SCHEDULE OF EXISTING DEBT <br /> As of the date of the approval of this loan by CWCB, the BORROWER has a previously <br /> approved emergency loan, which has not yet been disbursed by CWCB. The contract <br /> number is CT2o16-2452, with a TOTAL LOAN CONTRACT AMOUNT of$4,545,000.00, and <br /> has a maturity date of January 19, 2046. <br /> SECTION 6-LOAN SECURITY <br /> The COLLATERAL provided for this loan, as evidenced by the executed SECURITY <br /> AGREEMENT (Appendix 5) and DEED OF TRUST (APPENDIX 6) and incorporated herein, <br /> shall be a pledge of its Water Activity Enterprise Revenues backed by a rate <br /> covenant and twenty-seven (27) unencumbered acre-foot units of Colorado-Big <br /> Thompson Project Water contractual rights administered through Northern Water, <br /> valued at no% of the loan amount, as more particularly described in the attached <br /> DEED OF TRUST ("COLLATERAL") which is incorporated herein. This is in accordance <br /> with CWCB Financial Policy #5 (COLLATERAL). A Notice of Claim of Lien or Security <br /> Interest in a Class B or CAllotment and Request for Notification of Action Regarding <br /> a Class B or CAllotment Contract shall be completed and sent to Northern Colorado <br /> Water Conservancy District. <br /> SECTION 7-ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS <br /> None. <br /> SECTION 8-"CONSTRUCTION FUND PROGRAM"PROCEDURES FOR PROJECTS <br /> A. The BORROWER shall employ an engineer, registered in the State of Colorado to <br /> prepare plans and specifications for the PROJECT. <br /> B. Engineering contracts and the plans and specifications must be submitted to the <br /> CWCB staff for verification of compliance with the terms of this CONTRACT when <br /> available prior to bidding. Any modifications, to the plans and specifications that <br /> effect changes to the construction costs must be approved in writing by CWCB. <br /> C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by§ <br /> 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State <br /> Engineer's Office prior to construction. <br /> D. The BORROWER shall notify CWCB of the bid opening date, time and location. CWCB <br /> staff may elect to attend the bid opening. <br /> E. CWCB must approve the award of the construction contract. <br /> F. The BORROWER shall contract for the construction of the work with responsible and <br /> capable Construction Firms, selected by the BORROWER and found acceptable by the <br /> CWCB staff. <br /> Appendix i <br /> Page 2 of 4 <br />