Laserfiche WebLink
� <br />BORROWER: THE JOSEPH W. BOWLES <br />RESERVOIR COMPANY <br />Contract No. C150290 <br />Project Amount $1,687,000 <br />Loan Service Fee $16,870 <br />Loan Amount $1,703,870 <br />� <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />LOAN CONTRACT <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 10, 2003) <br />THIS CONTRACT made this December 18, 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 Joseph W. Bowles Reservoir <br />Company, 2922 Evergreen Parkway, Suite 320, Evergreen, CO 80439, a Colorado mutual <br />ditch company ( "BORROWER" OR "CONTRACTOR"�. <br />FACTUAL RECITALS <br />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. C150290, Fund Number 424, Appropriation Code MC9, Organization YYYY, GBL <br />J290, Program WTRC, Object Code 5882, Reporting Category 0290. <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 fOf 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 Loarv AnnouNr authorized, the parties shall amend this <br />contract to revise the Loarv AMOUNT including adjustment of the service fee to reflect <br />1% of the actual LoaN AnnouNT disbursed to the BoRROwER. <br />2. Contract Amendment Service Fees. Under certain circumstances th@ BORROWER <br />shall be assessed a fee for amending the contract. <br />Loan Contract C150290 <br />Page 1 of 11 <br />