C150103 Contract

• Contract/PO #: C150103
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Grant
• Water District: 0
• Loan Projects - Doc Type: Contract Documents

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CONTRACTOR: LOWER ARKANSAS WATER
MANAGEMENT ASSOCIATION
Contract No, C150103
Contract Amount $94,000

Agency Name: Water Conservation Board
Agency Number PDA
Routing Number 03 PDA f)DO /1

CONTRACT

THIS CONTRACT, made this August 28, 2002, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Soard, ("CWCS" or "STATE"), and Lower Arkansas Water
Management Association, a Colorado nonprofit corporation ("CONTRACTOR"),

FACTUAL RECITALS

1, Authority exists in the law, and funds have been budgeted, appropriated and
otherwise made available and a sufficient unencumbered balance thereof remains
available for payment as follows: Fund Number 424, Organization YYYY, Approp,
Code AED, GSL L 103, Program WTRC, Object Code 5881, Contract Encumbrance
No, C150103,

2, Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies,

3, CWCS's authority for making this expenditure: Senate Sill 02S-001 authorizes the
CWCS to make loans and grants to agricultural organizations for emergency
drought-related water augmentation purposes from the CWCS Severance Tax
Trust Fund Perpetual Sase Account, based on recommendations from the Director
of the CWCS, the State Engineer, the Commissioner of Agriculture and the
Executive Director of the Department of Natural Resources, Such loans or grants
may only be made if, pursuant to state or federal law, any portion of Colorado has
received emergency drought designation or a disaster emergency been proclaimed
due to drought.

4, The project consists of purchasing augmentation water ("PROJECT"), described in
Appendix A attached hereto, as approved by the Director of the CWCS, the State
Engineer, the Commissioner of Agriculture and the Executive Director of the
Department of Natural Resources on August 19, 2002, for which funds under this
contract will be expended,

NOW THEREFORE, in consideration of the mutual and dependent covenants
contained herein, the parties agree as follows:

A. Time of performance. The CONTRACTOR recognizes that time is of the essence in
the performance of its obligations under this contract. Therefore, the CONTRACTOR
shall be responsible for the completion of the PROJECT within 4 months of the
effective date of this contract.

B. Disbursement of funds. The CWCS shall disburse funds to the CONTRACTOR to
pay for the costs associated with the PROJECT in the following manner:

a, Request for funds for augmentation water transaction, Within 30 working days

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