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<br />BORROWER: QUINT, VICTOR & MARGIE <br />Contract No. C150147 <br />Project Amount $85,500 <br />1 % Service Fee $855 <br />Loan Amount $86,355 <br /> <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 04 PDA rm3 cf, <br /> <br />LOAN <br /> <br />CONTRACT <br /> <br />THIS CONTRACT, made this September 1, 2003, is by and between the State of <br />Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or "STATE"), and Victor and Margie Quint, 35997 Highway 6, <br />Hillrose, Colorado 80733 ("BORROWER" or "CONTRACTOR"). <br /> <br />FACTUAL RECITALS <br /> <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. C150147, Fund Number 424, Appropriation Code MC4, Organization YYVY, GBL <br />Q147, Program WTRC, Object Code 5891, Reporting Category 0147. <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), CWCS's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which defines 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_c9Dtained <br />tTereln;-th'S parties agree as tallows; <br />A. LOAN PROVISIONS <br />1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br />amount of the funds loaned by the CWCB to the BORROWER and (2) a service fee of <br />one percent (1 %) of the amount of the funds loaned. In the event that the BORROWER <br />does not use the full loan amount authorized, the parties shall amend this contract to <br />revise the LOAN AMOUNT and to adjust the service fee to reflect 1 % of the actual loan <br />amount disbursed to the BORROWER. <br />2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br />shall be assessed fees for amending the contract. <br />a. . A service fee shall be imposed on the BORROWER for amendments processed for <br />the benefit of the BORROWER and necessary for the BORROWER'S course of <br />business, including, but not limited to, a change in borrower name (novation), <br />assignment of contract, substitution of collateral, loan payment deferments in <br />excess of 3 per loan, and loan consolidation. Amendments in the course of <br />CWCB business, including, but not limited to, loan payment deferments (up to 3 <br />per loan) and changes in terms of loan repayment will be processed at no <br /> <br />Page 1 of 8 <br />