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<br />BORROWER: SILVER SPRINGS TROUT FARM, INC.
<br />Contract No. C150091
<br />Loan Amount $365,000
<br />
<br />Agency Name: Water ConservatiDn BDard
<br />Agency Number PDA
<br />Routing Number 03 PDA cJ()()/o
<br />
<br />LOAN
<br />
<br />CONTRACT
<br />
<br />THIS CONTRACT, made this August 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 the Silver Springs Trout Farm, Inc" a Colorado corporation,
<br />and Daniel A. and Jacqueline p, Sherwood Trust, U/A DTD 12/6/95, 13221 Marine Road,
<br />Montrose, Colorado 81401 ("BORROWER" and/or "CONTRACTOR"),
<br />
<br />FACTUAL RECITALS
<br />
<br />1, Authority exists in the law, and funds have been budgeted, appropriated and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment as
<br />follows: Fund Number 424, Organization YYYY, Appropriation Code L02, GBL S091 , Program
<br />WTRC, Object Code 5881, Reporting Category 0091, Contract Encumbrance No, C150091,
<br />
<br />2, Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies,
<br />
<br />3, CWCB's authority for making this loan: Construction Fund: Pursuant to the provisions of llll
<br />37-60-119 and 37-60-120, C,R.S, the CWCB is authorized to loan money for water projects
<br />from the CWCB Construction Fund for the benefit of the people of the State, provided that the
<br />borrower assures repayment of that money,
<br />
<br />4, House Bill 01-1024, Section 1, provides that pursuant to ll37-60-122, C,R.S" the CWCB is
<br />authorized to loan money to enable commercial aquaculturists, whose aquacuiture facilities
<br />are fish prDduction facilities that test positive for myxobolus cerebralis ("whirling disease") to
<br />make any such facility achieve a negative whirling disease certification, or prevent the
<br />introduction of whirling disease to any aquaculture facility or prevent the spread of whirling
<br />disease,
<br />
<br />5, The Project Summary, attached as Appendix 1 and incorporated herein, contains
<br />BORROWER Information (Section 1) and the PROJECT Description (Section 2),
<br />
<br />6, Board approval and legislative authorization, if required, is included in Board Approval and
<br />Legislative Authorization (Section 3) of the Project Summary,
<br />
<br />7, The CWCB now desires, by this contract, to loan money to the BORROWER for this PROJECT
<br />upon mutually agreeable terms and conditions,
<br />
<br />THEREFORE, in consideration of the mutual and dependent covenants contained herein, the
<br />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 not
<br />to exceed the LOAN AMOUNT and the BORROWER agrees to repay the loan in accordance with
<br />the terms as set forth in the Promissory Note, attached hereto as Appendix 2 and
<br />incorporated herein,
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<br />Loan CDntract
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