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APPENDIX 1, PROJECT SUMMARY <br /> Loan Contract Number CT2018-2829 <br /> Section 1 —Borrower's Name <br /> Lupton Bottom Ditch Company <br /> Section 2—Project Description <br /> A. Description of Project:The Borrower applied to the CWCB for a loan to be used for the Diversion <br /> Structure Repair (Project), located in Weld County, at a total estimated project cost of <br /> $676,000.00. The purpose of the Project is to stabilize the Company's river diversion structure <br /> so it may divert and deliver water to its shareholders. <br /> B. Description of Feasibility Study: Brad Hagen, P.E., with Civil Resources, LLC prepared the <br /> Loan Feasibility Study titled, "CWCB Feasibility Study for the Lupton Bottom South Platte <br /> Diversion Stabilization and Repair," dated November 2017. The feasibility study was prepared <br /> in accordance with CWCB guidelines and includes an analysis of alternatives, preliminary <br /> engineering design, and construction cost estimates and is incorporated herein by this reference. <br /> Based upon the feasibility report, the CWCB determined the Project to be technically and <br /> financially feasible. <br /> Section 3—CWCB's Authority <br /> Construction Fund: This loan is made pursuant to the provisions of§§37-60-119 and 37-60-120, <br /> C.R.S., which authorizes the CWCB to loan money for water projects from the CWCB <br /> Construction Fund for the benefit of the people of the state, provided that the Borrower assures <br /> repayment of that money. <br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to $10,000,000 from <br /> the CWCB's Construction Fund without prior approval from the General Assembly. <br /> Section 4-Board Approval <br /> At its January 22,2018,meeting the CWCB approved a Project Loan from the Construction Fund, <br /> to the Borrower, in an amount up to $600,000.00 for Project Costs. CWCB's Origination Fee of <br /> 1%in the amount of$6,000.00, in accordance with CWCB Policy No. 16,added to the Base Loan <br /> Amount results in a Total Loan Amount of$606,000.00,at an interest rate of 1.60%per annum for <br /> a repayment term of ten(10)years. <br /> Section 5—Schedule of Existing Debt <br /> As of the date of the CWCB loan approval,no other debt,backed by the loan security described in <br /> Section 6 below, exists. <br /> Section 6—Loan Security <br /> The Security for this loan, as evidenced by the executed Security Agreement(Appendix 5) and <br /> incorporated herein, shall be: (i) an irrevocable (but not exclusive)pledge to the CWCB of the <br /> Pledged Revenues in such amount as is necessary to make each annual payment due under this <br /> Contract; (ii) an assessment covenant; and(iii)an undivided one hundred percent(100%) <br /> interest in the diversion dam and intake structure as more particularly described in the attached <br /> Deed of Trust(Appendix 6). All Loan Security shall be in accordance with CWCB Policy No. 5. <br /> Page 1 of 3 <br /> Contract Number:CT2018-2829 <br />