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B. Loan Expiration Date <br /> The Loan Expiration Date is the date on which this Contract expires. The Loan Expiration <br /> Date is when the term of the loan ends; which is based upon the Loan Effective Date or the <br /> date of CWCB's Notice of Project Substantial Completion of Project. <br /> C. Project Term <br /> The Parties' respective performances of the project under this Contract shall commence on <br /> the Contract Project Performance Beginning Date shown on the Signature and Cover Page <br /> for this Contract and shall terminate on the Contract Project Performance End Date shown <br /> on the Signature and Cover Page for this Contract unless sooner terminated or further <br /> extended in accordance with the terms of this Contract. This project term does not include <br /> the full repayment period for the loan or this Contract. <br /> D. Project Extension Terms- State's Option <br /> The State,at its discretion,shall have the option to extend the Project performance under this <br /> Contract beyond the Project End Date for a period,at the same rates and under the same terms <br /> specified in the Contract(each such period a"Project Extension Term").In order to exercise <br /> this option, the Borrower shall provide written justification to CWCB and CWCB will <br /> provide written authorization for the Project term extension. <br /> 3. AUTHORITY <br /> Authority to enter into this Contract exists in §37-60-119(2),C.R.S., §37-60-120,C.R.S.,and §37- <br /> 60-121, C.R.S. <br /> 4. PURPOSE <br /> At the January 22, 2018 board meeting, CWCB approved a loan request to increase the efficiency <br /> by which the Shores Lakes can capture and release water for augmentation use. <br /> 5. DEFINITIONS <br /> The following terms shall be construed and interpreted as follows: <br /> A. "Appendices" means the following appendices attached to this contract: <br /> i. Appendix 1,Project Summary <br /> ii. Appendix 2, Option Letter <br /> iii. Appendix 3,Promissory Note <br /> iv. Appendix 4,Resolutions or Ordinances <br /> v. Appendix 5, Security Agreement <br /> B. "Base Loan Amount"means the amount disbursed to the Borrower,which does not include <br /> the one percent(1%) loan origination fee. <br /> C. "Contract" means this agreement, including all attached Appendices, all documents <br /> incorporated by reference, all referenced statutes, rules and cited authorities, and any future <br /> modifications thereto. <br /> D. "Contract Funds"means the funds that have been appropriated,designated,encumbered,or <br /> otherwise made available for payment by the State under this Contract. <br /> E. "CORA"means the Colorado Open Records Act, §§24-72-200.1 et. seq., C.R.S. <br /> Page 3 of 15 <br /> Contract Number:CT2018-2851 <br />