C150360 Amend 1

• Contract/PO #: C150360 CT2015-141
• Contractor Name: East Mesa Water Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

BORROWER: EAST MESA WATER COMPANY AGENCY NAME: COLORADO WATER
CONTRACT No. C150360 CONSERVATION BOARD
PROJECT AMOUNT $550,000 AGENCY NUMBER: PDA
LOAN SERVICE FEE $5,500 CONTRACT TYPE: LOAN/PRIVATE
LOAN AMOUNT $555,500 CWCB CMS #62296/CORE: CT2015-141
LOAN CONTRACT
(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 10, 2003)
THIS CONTRACT, made between the State of Colorado for the use and benefit of The
Department of Natural Resources, Colorado Water Conservation Board ("CWCB" or
"STATE"), and East Mesa Water Company, 1644 Prince Creek Road, Carbondale, CO
81623, a Colorado nonprofit corporation ("BORROWER").
FACTUAL RECITALS
1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise
made available and a sufficient unencumbered balance thereof remains available for
encumbering and subsequent payment of this CONTRACT; and
2. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies; and
3. On July 17, 2013 the CWCB approved a loan request from the BORROWER for the Ditch
Piping Project to install a high density polyethylene pipe in the existing ditch and
rehabilitate the existing tunnel ("PROJECT"), to remove the threat of tunnel collapse and
insure the delivery of irrigation water to its ranching shareholders. The total cost of the
project is estimated to be $550,000. The BORROWER was approved for a loan not to
exceed $555,500 at an interest rate of 1.75% for 30 years. The BORROWER will remit to
CWCB a reimbursement, not to exceed $300,000, from the United States Department
of Agriculture (USDA), Natural Resources Conservation Service (NRCS); and
4. The PROJECT SummARY attached as APPENDIX 1 and incorporated herein, contains
BORROWER Information (Section 1), the Project Description (Section 2), CWCB's
authority for making this loan (Section 3), and CWCB Approval and Legislative
Authorization which identifies the amount of the loan and the terms of repayment
(Section 4); and
5. The CWCB now desires, by this CONTRACT, to loan money to the BORROWER for this
PROJECT upon mutually agreeable terms and conditions.
THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:
A. LOAN PROVISIONS
1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the
amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2)
a service fee of one percent (1%) of the PROJECT amount. In the event that the
Loan Contract C150360
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