Laserfiche WebLink
BORROWER: THE RIVERSIDE RESERVOIR AND Agency Name: Water Conservation Board <br /> LAND COMPANY Agency Number PDA <br /> Contract No. C150291 �� �� _Qa� <br /> Project Amount $2,810,000 <br /> Loan Service Fee $28,100 <br /> Loan Amount $2,838,100 <br /> LOAN CONTRACT <br /> (STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10,2003) <br /> THIS CONTRACT, made this August 3, 2009, is by and between the State of Colorado <br /> for the use and benefit of The Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB" or "STATE"), and The Riverside Reservoir and Land <br /> Company, 221 E. Kiowa Avenue, Fort Morgan, CO 80701, a Colorado nonprofit <br /> 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. C150291, Fund Number 424, Appropriation Code MS9, Organization YYYY, GBL <br /> R291, Program WTRC, Object Code 5882, Reporting Category 0291. <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 AMOUNTS shall include 1) the <br /> I A 1� <br /> amount of the funds loaned by the CWCB to the BORROWER ` . T <br /> fri, <br /> a service fee of one percent (1%) of the PROJECT amount. In the event ha <br /> BORROWER does not use the LOAN AMOUNT authorized, the parties shall amend this <br /> contract to revise the LOAN AMOUNT including adjustment of the service fee to reflect <br /> 1°/0 of the actual LOAN AMOUNT disbursed to the BORROWER. <br /> 2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br /> shall be assessed a fee for amending the contract. <br /> Loan Contract C150291 <br /> Page 1 of 11 <br />