CT2018-2829 Contract

• Contract/PO #: CT2018-2829
• Contractor Name: Lupton Bottom Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

The Loan Effective Date is the date on which this Contract is approved and signed by the
Colorado State Controller or Designee, as shown on the signature and cover page of this
Contract. The State shall not have any obligation under this Contract prior to the Loan
Effective Date.
B. Loan Expiration Date
The Loan Expiration Date is the date on which this Contract expires. The Loan Expiration
Date is when the term of the loan ends; which is based upon the Loan Effective Date or the
date of CWCB's Notice of Project Substantial Completion of Project.
C. Project Term
The Parties' respective performances of the project under this Contract shall commence on
the Contract Project Performance Beginning Date shown on the Signature and Cover Page
for this Contract and shall terminate on the Contract Project Performance End Date shown
on the Signature and Cover Page for this Contract unless sooner terminated or further
extended in accordance with the terms of this Contract. This project term does not include
the full repayment period for the loan or this Contract.
D. Project Extension Terms- State's Option
The State,at its discretion, shall have the option to extend the Project performance under this
Contract beyond the Project End Date for a period,at the same rates and under the same terms
specified in the Contract(each such period a"Project Extension Term"). In order to exercise
this option, the Borrower shall provide written justification to CWCB and CWCB will
provide written authorization for the Project term extension.
3. AUTHORITY
Authority to enter into this Contract exists in§37-60-119(2),C.R.S., §37-60-120,C.R.S.,and§37-
60-121, C.R.S.
4. PURPOSE
At the January 22, 2018 board meeting, CWCB approved a loan request to stabilize the
Company's river diversion structure so it may divert and delver water to its shareholders.
5. DEFINITIONS
The following terms shall be construed and interpreted as follows:
A. "Appendices" means the following appendices attached to this contract:
i. Appendix 1, Project Summary
ii. Appendix 2, Option Letter
iii. Appendix 3,Promissory Note
iv. Appendix 4, Resolutions
v. Appendix 5, Security Agreement
vi. Appendix 6, Deed of Trust
B. "Base Loan Amount"means the amount disbursed to the Borrower,which does not include
the one percent(1%) loan origination fee.
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Contract Number:CT2018-2829