C150147 contract docs

• Contract/PO #: C150147
• Contractor Name: Quint, Victor and Margie
• Contract Type: Loan
• Water District: 0
• County: Morgan
• County: Washington
• Bill Number: MC4
• Loan Projects - Doc Type: Contract Documents

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BORROWER: QUINT, VICTOR & MARGIE Agency Name: Water Conservation Board
Contract No. C150147 Agency Number PDA
Project Amount $85,500 Routing Number 04 PDA 3
1 % Service Fee $855
Loan Amount $86,355
LOAN CONTRACT
THIS CONTRACT made this September 1, 2003, is by and between the State of
Colorado for the use and benefit of The Department of Natural Resources, Colorado Water
Conservation Board ("CWCB" or " STATE "), and Victor and Margie Quint, 35997 Highway 6,
Hillrose, Colorado 80733 ("BORROWER" or "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
encumbering and subsequent payment of this contract under: Contract Encumbrance
No. C150147, Fund Number 424, Appropriation Code MC4, Organization YYYY, GBL
Q147, Program WTRC, Object Code 5891, Reporting Category 0147.
2. Required approval, ctearance, and coordination have been accomplished from and with
appropriate agencies.
3. The PRO�ecT Summary, attached as A endix 1 and incorporated herein, contains
BORROWER Information (Sec � OJECT Description (Section 2), CWCB's
authority for rnaking this loa , and CWCB Approval and Legislative
Authorization which defines t amount o loan and the terms of repaymer�t
(Section 4).
4. The CWCB now desires, �t , oan money to the BORROWER f01' thlS
PROJECT U on mutually ag� I terms and conditions.
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THEREFORE, in consideration of the mutual and dependent covenants contained
herein, the parties agree as follows:
A. LOAN PROVISIONS
1. Loan Service Fee. The amount of the loan (LOAN AMOUNT� Shall include (1) the
amount of the funds loaned by the CWCB to the BoRROwER and (2) a service fee of
one percent (1 %) of the amount of the funds loaned. In the event that the BoRROwER
does not use the full loan amount authorized, the parties shall amend this contract to
revise the LoaN AMOUNT and to adjust the service fee to reflect 1% of the actual loan
amount disbursed to the BoRROwER.
2. Contract Amendment Service Fees. Under certain circumstances th2 BORROWER
shall be assessed fees for amending the contract.
a. A service fee shall be imposed on the BoRROwER for amendments processed for
the benefit Of th@ BORROWER and necessary for the BORROWER course of
business, including, but not limited to, a change in borrower name (novation),
assignment of contract, substitution of collateral, loan payment deferments in
excess of 3 per loan, and loan consolidation. Amendments in the course of
CWCB business, including, but not limited to, loan payment deferments (up to 3
per loan) and changes in terms of loan repayment will be processed at no
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