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BORROWER; SILT WCD <br />Conttact No. C154135 <br />Project Amount $486,000 <br />1 % Loan Service Fee $4,860 <br />Loan Amount $490,860 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number d�/ y�i} oaa/y <br />LOAN CONTRACT <br />THIS CONTRACT made this June 1, 2003, 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" or " STATE "), and Silt Water Conservancy District acting by and through the <br />Silt Water Conservancy District Water Activity Enterprise, P. O. Box 8, Silt, Colorado <br />81652, ( OR "CONTRACTOR <br />FACTUAL RECITALS <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. C150135, Fund Number 424, Appropriation Code MC3, Organization YYYY, GBL <br />S135, Program WTRC, Object Code 5560, Reporting Category 0135. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The Prto�ec'r Summary, attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) th2 PROJECT Description (Section 2), CWCB's <br />authority for making this loan (Section 3), and CWCB Approval and Legislative <br />Authorization which identifies 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 />PRO�ecT upon mutually agreeable terms and conditions. <br />THEREFORE, in consideration of the mutual and dependent covenants contained <br />herein, the parties agree as follows: <br />A. LOAN PROVISIONS <br />1. Loan Service Fee. The total amount of the loan (Tora� LoaN aMOUN'r) shall include <br />(1) the amount of the funds loaned by the CWCB to the BoRROweR and (2) a service <br />fee of one percent (1%) of the amount of the funds loaned. In the event that the <br />BoRROweR does not use the full loan amount authorized, the parties shall amend this <br />contract to revise the ToTa,� Loa,N AMOUNr and to adjust the sen�ice fee to reflect 1°l0 <br />of the actual loan amount disbursed to the BoRROweR. <br />2. Contract Amendment Service Fees: Under certain circumstances the BORROWER <br />shall be assessed a fee 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 fos the BORROWER 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 />Page 1 of 10 <br />