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BORROWER: WELDON VALLEY DITCH <br />COMPANY <br />Contract No. C150278 <br />Project Amount $135,000 <br />Loan Service Fee $1,350 <br />Loan Amount $136,350 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number 09 PDA �' � D 7 J� <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003� <br />THIS CONTRACT made this January 13, 2009, is by and befinreen the State of <br />Colorado for the use and benefit of The Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB" or " STATE "), and the Weldon Valley Ditch Company, P.O. <br />Box 626, Weldona, CO 80653, a Colorado nonprofit corporation (" BORROWER "). <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. C150278, Fund Number 424, Appropriation Code MS9, Organization YYYY, GBL <br />W278, Program WTRC, Object Code 5882, Reporting Category 0278. <br />2. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />3. The PRO�ecT Summary, attached as Appendix 1 and incorporated herein, contains <br />BORROWER Information (Section 1) the 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 f01' thlS <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 amount of the loan (LOAN AMOUNT� Shall include (1) the <br />amount of the funds loaned by the CWCB to the BoRROwER for the PRO�ECT and (2) <br />a service fee of one percent (1%) of the PRO�ECT amount. In the event that the <br />BoRROwER does not use the LoaN AnnouNT authorized, the parties shall amend this <br />contract to revise the LoaN AnnouNT including adjustment of the service fee to reflect <br />1% of the actual LoaN AnnourvT 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 />Loan Contract C150278 <br />Page 1 of 11 <br />