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<br />BORROWER: UPPER PLATTE AND BEAVER
<br />CANAL CO,
<br />Contract No, C150096
<br />Loan Amount $ 83,000
<br />
<br />Agency Name: Water Conservation Board
<br />Agency Number PDA
<br />Routing Number 02 PDA ()()(r1-y,
<br />
<br />LOAN
<br />
<br />CONTRACT
<br />
<br />THIS CONTRACT, made this June 1, 2002, is by and between the State of Colorado for
<br />the use and benefit of The Department of Natural Resources, Colorado Water Conservation
<br />Board ("CWCB" and/or "STATE"), and Upper Platte and Beaver Canal Company, P.O, Box
<br />581, Brush, CO 80723, a Colorado nonprofit corporation, ("BORROWER" and/or
<br />"CONTRACTOR"),
<br />
<br />FACTUAL RECITALS
<br />
<br />1, Authority exists in the law, and funds have been budgeted, appropriated and othelWise
<br />made available and a sufficient unencumbered balance thereof remains available for
<br />payment as follows: Fund Number 485, Organization YYYY, Appropriation Code 010,
<br />GBL U096, Program WTRC, Object Code 5881, Reporting Category 0096, Contract
<br />Encumbrance No, C150096
<br />
<br />2, Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies,
<br />
<br />3, This loan is made pursuant to the provisions of ~S 37-60-119 and 37-60-120, C,R.S"
<br />pursuant to which the CWCB is authorized to loan money from the CWCB's Construction
<br />Fund Emergency Infrastructure Account for water projects for the benefit of the people of
<br />the State, provided that the borrower assures repayment of that money, Section 37-60-
<br />122,6, C,R.S,. authorizes the CWCB to loan money from the Emergency Infrastructure
<br />Account for projects that it determines are necessary to avoid unreasonable risk of
<br />injury or damage to human health or well-being or to property or crops when the CWCB
<br />also determines that the emergency condition is not the result of negligence in the
<br />operation or maintenance of the infrastructure and that the viability or success of the
<br />emergency project is not dependent upon further appropriations or loans, The eWCB,
<br />at its March 21, 2002 meeting, did make such determination with regard to the Project
<br />proposed by the BORROWER,
<br />
<br />4. The Project Summary, attached as Appendix 1 and incorporated herein, contains
<br />BORROWER Information (Section 1) and the PROJECT Description (Section 2),
<br />
<br />5, Board approval and legislative authorization, if required, is included in Board Approval
<br />and Legislative Authorization (Section 3) of the Project Summary,
<br />
<br />6, The CWCB now desires, by this contract, to loan money to the BORROWER for this
<br />PROJECT upon mutually agreeable terms and conditions,
<br />
<br />THEREFORE, in consideration of the mutual and dependent covenants contained herein,
<br />the parties agree as follows:
<br />
<br />A, LOAN PROVISIONS
<br />
<br />1, Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an amount
<br />not to exceed the LOAN AMOUNT and the BORROWER agrees to repay the loan in
<br />
<br />Page 1 of 9
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<br />Upper Platte and Beaver Creek Canal Co,
<br />
<br />Loan Contract
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