C150333 PIF

• Contract/PO #: C150333
• Contractor Name: Montezuma Valley Irrigation Company
• Contract Type: Loan
• Loan Projects - Doc Type: Repayment Information

The Dolores Water Conservancy District, a Colorado quasi-municipal corporation
("DWCD"), has two agreements with the Borrower (MVIC), under which the Borrower
has repayment obligations to DWCD secured by a first lien on the Borrower's
assessment revenues. These Agreements include the "Contract between DWCD and
MVIC for Adjustment of Water Rights and Sale of the Use of Irrigation Water, Dolores
Project, Colorado River Storage Project" (Articles 4, 6, 7 and 8), and the "Contract
Among the United States and DWCD, MVIC and the Ute Mountain Ute Tribe
Providing for the Adjustment of Water Rights and for the Rehabilitation, Operation,
Maintenance and Replacement of Facilities to Reduce Salinity Inflow to Colorado
River" (Articles 5 and 6).
SECTION 6-COLLATERAL
In addition to the property pledged in paragraph 8 of the loan contract, the collateral
provided for this loan, as evidenced by the executed Deed of Trust, in the form
attached as Appendix 5 and incorporated herein, shall be the May Pipeline, as more
particularly described in the attached Deed of Trust ("Collateral").
SECTION 7—ADDITIONAL CONDITIONS&CONTRACT REQUIREMENTS
A. Prior to disbursement of loan funds, the CWCB shall receive a parity position with
the Dolores Water Conservancy District on the Company's assessment revenues
for the new debt added by this loan.
B. Any funds received by the Borrower from the Bureau of Reclamation related to the
water accounting system shall be given to the CWCB and will be applied to the
outstanding principal loan balance, and the loan contract shall be amended to the
reduced loan amount.
SECTION 8—CONSTRUCTION FUND PROGRAM PROCEDURES
A. The BORROWER shall employ an engineer, registe .Colorado to
prepare plans and specifications for the PROJtcT.
B. The BORROWER'S and the Engineering Cons It is Agreements-and the plans and
specifications must be submitted to the C, a f.',;:-:--, --'s- of.-y pliance
with the terms of this Contract when availabl bi' • od ations to
the plans and specifications must be approve in wri ng ., the u.
C. For plans and specifications for all jurisdictional dams and reservoirs, as defined by
§ 37-87-105 C.R.S., the BORROWER shall provide a letter of approval from the State
Engineer's Office prior to construction.
D. CWCB staff must be present at bid opening and must approve the award of the
construction contract.
E. The BORROWER shall contract for the construction of the work with responsible and
capable Construction Firms, which said Construction Firms shall be selected by the
BORROWER and found acceptable by the CWCB staff.
Appendix 1 to Loan Contract C150333
Page 2 of 4