C153629 Contract

• Contract/PO #: C153629
• Contractor Name: Colorado River Water Conservation District, The
• Contract Type: Loan
• Water District: 50
• County: Grand
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

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Contractor has repaid the loan in full under the terms of
paragraph B.1G. below. The state shall be the co-insured of
this policy along with the Contractor. The Contractor shall
submit certificates of insurance evidencing such insurance
policies to the state at the signing of this contract. Notices
of renewals of said policies shall also be filed with the state
as they occur. The outstanding loan amount payable to the state
shall be reduced in the amount of any payments made to the state
under this insurance coverage. If only a portion of the
outstanding loan amount is paid to the state under this policy,
the number of installment payments shall remain unchanged;
however, the amount of each payment shall be reduced
proportionately.

13.
attached
herein.

Comply with the Construction Fund Program Procedures
hereto as Exhibit A and incorporated by reference

14. Comply with applicable state and Federal statutes,
procedures, requirements, rules, or regulations.

15. Operate the project in a manner which recognizes and
attains the water supply purposes and which enables the
Contractor to meet all of its financial obligations associated
with the project.

16. Repay to the State Twenty Million Dollars
($20,000,000) with interest thereon at the rate of five percent
(5%) per annum, said repayment to be made in annual installments
as shown in ExhibitB, attached hereto and incorporated by
reference herein, with the first of such installments being due
and payable on January 1 of the year after which storage
commences in the reservoir. Subsequent installments shall be
due and payable annually thereafter on January 1 of each year.
Said annual installment payments shall be made payable to the
Colorado Water Conservation Board at the offices of said Board
in Denver, Colorado.

17. In order to evidence its ability to provide for the
payment of the principal and the interest of the loan made to
the Contractor pursuant to this contract, pledge the revenues
due and payable from the Rock Creek Reservoir Lease Agreement
dated March 3, 1987 (attached hereto as Exhibit C and
incorporated by reference herei~, and the Agreement Amending
Lease Agreement dated the y~ ~ day of September, 1992,
herein after referred to as the Denver Lease (attached hereto as
Exhibit D qnd incorporated by reference herein), pursuant to a
Resolution by the Contractor's Board of Directors of an
irrevocable pledge of revenue (attached hereto as Exhibit E and
incorporated by reference herein). This contract between the
state and the Contractor is contingent on the rights of the

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