Laserfiche WebLink
BORROWER: MONTEZUMA VALLEY IRRIGATION Agency Name: Water Conservation Board <br /> COMPANY Agency Number PDA <br /> Contract No. C150333 G��'yS ���U� <br /> Project Amount$335,250 <br /> Loan Service Fee $3,353 <br /> Loan Amount$338,603 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT—WAIVER#160-APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT, made this 2nd day ofJuly, 2012, is by and between the State of <br /> Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB" or "STATE"), and the Montezuma Valley Irrigation Company, <br /> P.O. Box 1056, Cortez, CO 81321, a Colorado nonprofit corporation, ("BORROWER"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br /> made available and a sufficient unencumbered balance thereof remains available for <br /> encumbering and subsequent payment of this contract under: Contract Encumbrance <br /> No. C150333, Fund Number 424, Appropriation Code M12, Organization YYYY, GBL <br /> M333, Program WTRC, Object Code 5882, Reporting Category 0333. <br /> 2. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies. <br /> 3. The PROJECT Summary, attached as Appendix 1 and incorporated herein, contains <br /> BORROWER Information (Section 1), the PROJECT Description (Section 2), CWCB's <br /> authority for making this loan (Section 3), and CWCB Approval and Legislative <br /> Authorization which identifies the amount of the loan and the terms of repayment <br /> (Section 4). <br /> 4. The CWCB now desires, by this contract, to loan money to the BORROWER for this <br /> PROJECT upon mutually agreeable terms and conditions. <br /> THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br /> amount of the funds loaned by the CWCB to the BORROWER for t R.c: El d ) a <br /> service fee of one percent (1%) of the PROJECT amount. I t a``'the <br /> BORROWER does not use the LOAN AMOUNT authorized, the parties k." r- - -- this <br /> contract to revise the LOAN AMOUNT including adjustme f e ervice fee to reflect <br /> 1% of the actual LOAN AMOUNT disbursed to the BORROWS . <br /> tip; <br /> L .„ : <br /> 2. Contract Amendment Service Fees. Under certain circumstanc , th <br /> likl <br /> shall be assessed a fee for amending the contract. <br /> Loan Contract C150333 <br /> Page 1 of 11 <br />