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GRANTEE: LOGAN WELL USERS, INC. Agency Name: Water Conservation Board <br /> • Contract No. C150246 Agency Number PDA <br /> Contract Amount$275,587 Routing Number 0 7 e17/1 00 0 <br /> GRANT CONTRACT <br /> THIS GRANT CONTRACT, made this May 1, 2007, by and between the State of <br /> Colorado for the use and benefit of the Department of Natural Resources, Colorado <br /> Water Conservation Board, ("CWCB" or "STATE"), and Logan Well Users, Inc., P.O. Box <br /> 1172, Sterling, CO 80751, a Colorado nonprofit corporation ("GRANTEE"). <br /> FACTUAL RECITALS <br /> 1. Authority exists in the law, and funds have been budgeted, appropriated and <br /> otherwise made available and a sufficient unencumbered balance thereof remains <br /> available for payment as follows: Fund Number 424, Organization YYYY, GBL L246, <br /> Appropriation Code AED, Program WTRC, Object Code 5781, Contract Encumbrance <br /> No. C150246. <br /> 2. Required approval, clearance, and coordination have been accomplished from and <br /> with appropriate agencies. <br /> 3. C.R.S. § 37-60-123.5 authorizes the CWCB to make loans and grants to agricultural <br /> • organizations for emergency drought-related water augmentation purposes from the <br /> CWCB Severance Tax Trust Fund Perpetual Base Account, based on <br /> recommendations from the Director of the CWCB, the State Engineer, the <br /> Commissioner of Agriculture and the Executive Director of the Department of Natural <br /> Resources. Such loans or grants may only be made if, pursuant to state or federal <br /> law, any portion of Colorado has received emergency drought designation or a <br /> disaster emergency been proclaimed due to drought. <br /> 4. Grantee submitted a grant application, dated March 1, 2007 ("Application"), to CWCB <br /> for reimbursement of funds expended in connection with the lease and delivery of <br /> augmentation water during 2006, in excess of normal years due to the drought, <br /> described in Grantee's Application. <br /> 5. The APPLICATION was approved for funding, in accordance with the Agricultural <br /> Emergency Drought Response Grant Guidelines/Procedures dated September 2004, <br /> in the amount of $275,587 ("Grant") by the Director of the CWCB and the State <br /> Engineer on April 17, 2007, after consulting with the Commissioner of Agriculture and <br /> the Executive Director of the Department of Natural Resources. The Letter of <br /> Approval and Grantee's letter is attached hereto as Appendix 1. <br /> NOW THEREFORE, in consideration of the mutual and dependent covenants <br /> contained herein, the parties agree as follows: <br /> A. Grant of funds. CWCB hereby grants to the Grantee the sum of$275,587 as <br /> reimbursement of costs expended by Grantee in connection with the expenditure of <br /> funds in connection with the lease and delivery of water for augmentation purposes <br /> Grant Contract No. C150246 <br /> Page 1 of 6 <br />