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<br />.. ,'. <br /> <br />,-. <br />( <br /> <br />( <br /> <br />,~" . <br /> <br />.~ <br /> <br /> <br />1" .,A <br />,.,~ -i:.i'\. <br />-<\ ~~t. <br />L. ., <br />.~ ."'Pt ~\ <br />. ~~"~ 1m <br />~: , . 4~' . <br />'.~~ ~'. <br />~..." <br />. <br />,.~ ": <br />. . <br />j..' <br /> <br /> <br />ARTMENT OR AGENCY NUMBER <br />7\ <br /> <br />.> <br /> <br /> <br /> <br />$ 97,500 <br /> <br />LOAN CONTRACT <br /> <br />- ,c . r: . <br /> <br />. THIS CONTRACT, made this /.{f Jc, day ~{I()~ 1994, by and between the State <br />of Colorado for the use and benefit of the Department 'of Natural Resources, Colorado Water Conservation Board <br />(CWCB), hereinafter referred to as the STATE, and LLOYD RANCH LIMITED PARTNERSHIP, 3216 East Spruce Street, <br />Seattle, Washington 98122, hereinafter referred to as the BORROWER andlor CONTRACTOR. <br /> <br />. <br /> <br />RECITALS <br /> <br />1. Authority exists in the law, and funds pave been budgeted, appropriated and otherwise made available <br />.and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Organization <br />YYYY, Appropriation 007, Program WfRC, Object Code 5120, Contract Encumbrance Number C 1~3 t, II / <br /> <br />_ ; and _ ._ _.. .____...... .....___.__._. __ <br /> <br />2. Requi~ed ~ppr~val, clearance;' and coordination havebeen"accbmplishedfrom and' with appropriate .... <br />agencies; and <br /> <br />CANCELLED <br /> <br />3, Pursuant to the provisions of Sections 37-60-119 and 37-60-120, 15 CRS (1990) the STATE is <br />authorized to loan money for the construction of water proje_r &<t.blf~lit of the people of the STATE provided <br />that .the BORROWER assures repayment of that money; and <br /> <br />4.. The BORROWER is a duly constituted finM~~n~:mJCihFlRate of Washington and owns <br />approximately 95.3% of the Rapid Creek Reservoirs #1 and 112; and <br /> <br />5. The limited partne:ship has been registered with the Colorado Secretary of State as required by Section <br />7-62-9023A CRS (1986), copy of registration is attached hereto as APPENDIX A; and <br />. ".' <br /> <br />6. The BORROWER has applied to the STATE for. a loan to be used to rehabl7itate Rapid Creek Reservoirs #1 <br />. and #2 located on Grand Mesa in Mesa County, Colorado, hereiflatter referred to as the PROJECT; and . I <br /> <br />7. On July 6, 1990, the parties entered into Feasibility Report Contract #C 153578 wherein the STA TE <br />agreed to advance Two Thousand Five Hundred Dollars ($2,500) for one-half the cost of the report, and after <br />reviewing the feasibility report, it was determined that the PROJECT is technically and financially feasible; and <br /> <br />8, Pursuant to Section 1 of Chapter 326, Colorado Session Laws, 1991 (Senate Bil/91-10061. the Colorado <br />General Assembly authorized CWeB to loan to the BORROWER an amount not to exceed One Hundred Thousand <br />Dollars ($100,000) for a term of twenty (20) years for the construction of the PROJECT; and <br /> <br />LLOYD RANCH LIMITED PARTNERSHIP <br /> <br />Page' 1 of 10 <br /> <br />LOAN CONTRACT <br />