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<br />I <br /> <br />. <br /> <br />( <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: <br /> <br />$ LOAN AMOUNT <br /> <br />LOAN CONTRACT <br /> <br />THIS CONTRACT, made this day of 1998, by and <br />between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board (CWCB), hereinafter referred to as the STATE, and BORROWER, hereinafter <br />referred to as the BORROWER and/or CONTRACTOR. <br /> <br />FACTUAL RECITALS <br /> <br />1. Authority exists in the law, and funds have been budgeted, appropriated and otherwise made <br />available and a sufficient unencumbered balance thereof remains available for payment in Fund <br />Number 424, Organization YYYY, Appropriation XXX, GBL XXXX, Program WTRC, Object Code <br />51XX, Reporting Category: 3XXX, Contract Encumbrance Number C153XXX. <br /> <br />2. Required approval, clearance, and coordination have been accomplished from and with appropriate <br />agencies. <br /> <br />3. Pursuantto the provisions of 9937-60-119 and 37-60-120, C.R.S. (1997) the STATE is authorized to <br />loan money for the construction of water projects for the benefit of the people of the STATE, provided <br />that the borrower assures repayment of that money. <br /> <br />4. The BORROWER is a duly constituted Colorado ditch and reservoir company formed pursuant to ~~ 7- <br />42-101 et sea. and 7-40-101 et sea., C.R.S., located in X County, State of Colorado. <br /> <br />5. The BORROWER has applied to the STATE for a loan to be used for X, hereinafter referred to as <br />PROJECT, at a cost of $X. <br /> <br />6. The STATE has reviewed a feasibility report compiled by X, which is incorporated herein by reference, <br />and was financed in part by CWCB (Feasibility Report Contract #C153X dated X), and, based upon <br />this feasibility report, the STATE determined the PROJECT to be technically and financially feasible. <br /> <br />7. At its X, meeting, the CWCB approved a loan to the BORROWER in an amount up to $X,OOO, not to <br />exceed X% of the cost of the PROJECT, at an interest rate of X% per annum for a duration of X years. <br /> <br />8. Pursuant to 199X Colo. Sess. Laws, Section X, Chapter X, the Colorado General Assembly <br />authorized CWCB to loan to the BORROWER an amount not to exceed $X,OOO for the PROJECT. <br /> <br />9, The STATE now desires, by this contract, to loan money to the BORROWER for this PROJECT upon <br />mutually agreeable terms and conditions. <br /> <br />THEREFORE, in consideration of the mutual and dependent covenants contained herein, the <br />parties agree as follows: <br /> <br />. A. The BORROWER agrees as follows: <br /> <br />. <br /> <br />X Ditch & Reservoir Company <br /> <br />Page 1 of 15 <br /> <br />Loan Contract <br />