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<br />, . <br />) \ ~,'~>/-~C.J)2J" IR SIBS) <br />. '-'I P[l <br />'" ," :""110n Valley Dam <br />~ Reservoir <br />.qy~ <br /> <br />f+C f57lIF/~' <br />Oi'.P". T\lE,," r OR ,H.a::,'KY "lJ.'.1Bl:.R <br />34-04-00 <br />CQNl R.\CT ROl:TlN(; Nl '\lBfR <br />- :i! <br />$166.600 <br /> <br /> <br />PRQ.JECT <br />CONTRACT <br />~d Promissory Note <br />THIS CONTRACT. made this 9'tJ.v da~ of -;?(g.-g- 198'i- ' by and bel ween rhe <br />Slale of Colorado for ,he U~ and benefit of ,ne Department of Na tural Resources <br />(Colorado Water Conservation Board) I <br />hereinafter rt'ferred to as ,he Slale, and "2 the Fruitland Irrication Comnany <br />Route 1, Box 34, Crawford, CO 81415. <br />hereinafter referred fo as ,he contractor !Contractor or Borrower. <br /> <br />WHEREAS. authorilY exists in the law and Funds have been budgeted. appropriated and otherwise made <br />available and a sufficienl unellcumbered bal:1ncC' thereof remains 1~~ila~Is..~9r paymenl in Fund :'umber 400 B <br />Gll Account Number5425X ,Confracl Encumbrance Numbe j,t:.;:.tJlf,-9.; and <br />ABL Account No. 14250, Org. Unit 77-77-777, <br />WHEREAS. relJuircd appru~al, clearance and coordinalion Ilas been accomplished from and with appropriale <br />agencies: and <br /> <br />WHEREAS. pursuant to t.he provisions of 37-60-119 and <br />37-60-120. Colorado Revised Statutes. the State is authorized <br />to loan money for the construction of water projects for the <br />henefit of the ~nople of the State provided that the Contractor <br />assures repaymHllt of that m()llsy; and <br /> <br />WHRRRAS, the Contractor is an irrigation company in the <br />State of Colorado ano it wishes to rc~pair the out.let works of <br />Onion Valley Dam and appurtenant structures. hereinafter <br />somel,lmes called the project. for the benefit of the <br />stockholders of the irrigation comparlY in Delta. MOfll.roae. and <br />GunniHon Counties. Colorado. at an estimated cost of One <br />Hundred PiEty Thousand Dollars ($150.000); and <br /> <br />WHEREAS. on February 7, 1987. the State and the Fruitland <br />Mesa Water Conservancy District entered into a feasibility <br />report contract. attached hereto as Exhibit B. A feasibility <br />investigation of said project: was conducted nod the State has <br />determined that such a project is technically and financially <br />feasible; and <br /> <br />WHEREAS. on '7z. ~ '9 . 1989. the State and the <br />Frult.land Mesa Wat.At C servancy District entered into a <br />termination contract. attached hereto aR Rxhibit A, which <br />terminated the Exhibit B feasibility report contract previOUSly <br />entered into between the parties; and <br /> <br />WHEREAS. the termination contract provid~s that the <br />Contractor will repay to the State the principal amount of <br />Three rhousand Dollars ($3.000) <br />under the terms and conditions of that Exhibit A termination <br />contract in consideration of i~e State's partial financing of <br />the feasibility ceport for the project pursuant to the Exhibit <br />B feasibility report contract; and <br /> <br />WHEREAS, the Contractor has expended an additional Nineteen <br />rhousand Six Hundred Dollars ($19.600) as described in the <br />Anclosed letter (EXhibit F) addr.essed to David Walker; and <br /> <br />WHEREAS. the State now deRires by this project contract to <br />loan money for t.he const.ru(:tion of said project upon mutually <br />agreeable terms and conditions. subject to the availability of <br />funding for that purpose; and <br /> <br />WHEREAS. the State and the Contractor agree that the <br />repayment of the feasibility report funding Rhall be <br />consolidated with the repayment of the project construction <br />loan; and <br /> <br />9568E <br /> <br />39S-5)()1-1014 <br /> <br />Page I ofJ:.2.. pa{!.es <br />