CT2019-2241 Contract

• Contract/PO #: CT2019-2241
• Contractor Name: Missouri Heights Mountain Meadow Irrigation 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 July 18, 2018 board meeting, CWCB approved a loan request for a loan to be used for the
Ditch Piping Phase B (Project). The purpose of the Project is to prevent water loss by piping a
section of ditch that loses approximately twenty percent of its water due to seepage loss. Piping
the ditch will eliminate water loss. The total estimated project cost is $774,000.00 and is located
in Eagle County.
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, Resolution
v. Appendix 5, Security Agreement
vi. Appendix 6, Deed of Trust
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Contract Number:CT2019-2241