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MASON COUNTY PUD NO 104/21/2022Revision: 111181Accounts PayableCheck Register11:29:07 AMPage 304/11/2022 To 04/21/2022Bank Account: 4 - COLUMBIA BANK - DISTRICTCheck /Tran DatePmtTypeVendorVendor NameReferenceAmount121558 04/13/2022 CHKNISCNISCMARCH 2022-PRINT SERVICES4,853.90121559 04/13/2022 CHKNWPPANWPPANWPPA ANNUAL CONF2,250.00121560 04/13/2022 CHKPARSONPARSONS DIESEL & STEAMSERVICE VARIOUS VEHICLES2,088.63121561 04/13/2022 CHKNAPA AUTO PA WESTBAY NAPA AUTO PARTSSHOP SUPPLIES121562 04/13/2022 CHK2WILLIAM EATONDUCTLESS HEATPUMP & BPA INCENTIVE REBATE1,300.00121563 04/13/2022 CHK2JENNY S KIRKDUCTLESS HEATPUMP & BPA INCENTIVE REBATE1,300.00121564 04/13/2022 CHK2JENNIFER L REICHDUCTLESS HEATPUMP & BPA INCENTIVE REBATE1,300.00121565 04/13/2022 CHK2KYLE SKARRADUCTLESS HEATPUMP & BPA INCENTIVE REBATE1,300.00121567 04/18/2022 CHKIBEWIBEW LOCAL UNION #77UNION DUES899.27121568 04/18/2022 CHKPUDEMPPUD #1 EMPLOYEE FUNDEMPLOYEE FUND220.00441.55Total Payments for Bank Account - 4 :Total Voids for Bank Account - 4 :Total for Bank Account - 4 :Grand Total for Payments :Grand Total for Voids :Grand Total :51217/pro/rpttemplate/acct/2.52.1/ap/AP CHK )(0)(62)0.00183,476.080.00183,476.08

MASON COUNTY PUD NO 104/21/202211:29:07 AMAccounts PayableCheck RegisterPARAMETERS ENTERED:Check Date:Bank:Vendor:Check:Journal:Format:Extended Reference:Sort By:Voids:Payment Type:Group By Payment Type:Minimum Amount:Authorization Listing:Credit Card Charges:5121704/11/2022 To ntAllNo0.00NoNo/pro/rpttemplate/acct/2.52.1/ap/AP CHK REGISTER.xml.rptRevision: 111181Page 4

MASON COUNTY PUD NO 104/19/2022Revision: 110761GENERAL LEDGER1:35:09 PMPage: 1TRANSACTION DETAILAPR 2022 To APR 2022DateJournal DescriptionAccount: 0 131.2 CASH-GENERAL FUND (DISTRICT)04/18/2266015 Check PrintActv BU Project0ModJrnl ReferenceCodeDepartment: 0PL2 PAYROLL65,510.28PARAMETERS ENTERED:Divsion:Accounts:Department:Activity:Sort By:Date Selection:Period:Module:Journal Activity:Accounts With No Transactions:Extended Reference:Interface Detail:Group by Department:51217All0 131.2AllAllDiv/AcctPeriodAPR 2022 To APR /GL TRANS DETAIL.xml.rptKarnold

MASON COUNTY PUD NO 1evision: 111087Page 1Payroll/Labor04/19/2022 1:36:34 PMCheck RegisterPay Date: 04/18/2022 To 04/18/2022Empl Name135 TIMOTHY BROWNPay Date04/18/2022Dir Dep/Check121566Net Pay TypeCHK1,587.29PARAMETERS ENTERED:Pay Date:Check/Direct Deposit:Employee:Journal:Division:Format:Sort By:5121704/18/2022 To 04/18/2022All1350AllSummary By CheckCheck/Direct Deposit/pro/rpttemplate/acct/2.52.1/pl/PL EMP CHECK REGISTER.xml.rptKarnold

PUD1 – Executive Summary – March 2022 This report summarizes information on the current financial status of Mason CountyPUD No. 1 for the month of March 2022:Work in Progress:o 2021 Annual Report (State Auditors Office) – Due May 30, 2022o FEMA Grant Applications (Due April 14, 2022) Completed Projects:o 2021 Form 7 – Due March 31, 2022o Clean Energy Implementation Plano 2021 Privilege Tax Returno 2022 Budget Developmento Hazard Mitigation Grants – 2021 / 2022o DOH Construction Loans / Grants for 2022 Projects Planned Key Milestones, Activities and / or Events:o Long range financial and budgetary planning – ongoing.Financial Highlights: Revenue – Gross Revenue was 1,198,808 for the month of March 2022. Expenditures –Gross expenditures were 1,013,372 for the month of March 2022. COVID Metrics –As of March, there were 62 electric accounts and 27 water accounts that were90 days or more past due for a total of 42,439.Financial Metrics as Compared with Prior Year:Total General Cash and InvestmentsMarch2022March2021 1,261,769 1,324,3972.74 to 12.73 to 1Debt Service Coverage (O&M/ Debt Service)3.412.78Long-Term Debt to Net Plant36%39%Total Debt to Equity Ratio (Total Liabilities/Total Equity)48%54%Long Term Debt to Equity Ratio(Long Term Debt / Total Equity)Times Interest Earned Ratio(Earnings before Interest & Taxes/Total Interest)Cash on Hand(Total Available Cash/Average Daily Costs)44%48%7.833.9242 Days (General)162 Days (All Funds)47 Days (General)143 Days (All Funds)Current Ratio (Current Assets/Current Liabilities)

Mason County PUD No 1Budget Summary by Division For the Month Ended March 31, 2022ElectricWaterSewerTotalsTotal RevenueBudgetedDifference (-/ )% of Budget 995,464.68969,804.0125,660.67103% 202,410.22172,985.0029,425.22117% 932.80903.7529.05103% 1,198,807.701,143,692.7655,114.94105%Total ExpendituresBudgetedDifference (-/ )% of Budget 840,916.00822,554.5518,361.45102% 172,372.83180,761.57(8,388.74)95% 83.30526.34(443.04)16% 1,013,372.131,003,842.469,529.67101%Net Operating MarginsBudgetedDifference (-/ )% of Budget 154,548.68147,249.467,299.22105% 30,037.39(7,776.57)37,813.96-386% 849.50377.41472.09225% 185,435.57139,850.3045,585.27133%

Mason County PUD No. 1Status of BudgetAs of March 31, 2022ELECTRIC DIVISIONRevenueExpendituresDistribution Operating & MaintenanceEnergy ServicesGeneral & AdministrativeTax, Depreciation, & InterestTOTAL EXPENDITURESNET OPERATING MARGINS1st Quarter Expenditures587,543.84 22%308,928.71 546,116.2120%1,289,875.1347%1st Quarter20221st .919,867,493.00% 87,543.84 2,732,463.89 40 2,569,393.64 74,909.003,631,200.002,063,063.002,341,938.00 9,511,110.00 356,383.0019%36%26%25%28%169%DistributionOperating &MaintenanceEnergy Services% of 1st QtrBudget2,341,938.00 25%2022 Actuals2022 Budgeted Expenditures1,474,909.00 15%93,974.13 7%Distribution Operating &MaintenanceEnergy ServicesGeneral &AdministrativeTax, Depreciation,& Interest2022 BudgetGeneral & Administrative2,063,063.00 22%3,631,200.00 38%Energy Services by Vendor- 0%BPALilliwaup1,195,901.00 93%Rocky Br.Tax, Depreciation, & Interest

Mason County PUD No. 1Status of BudgetAs of March 31, 2022WATER DIVISION1st Quarter2022Revenue1st QuarterBudget631,120.55ExpendituresDistribution Operating & MaintenanceEnergy ServicesGeneral & AdministrativeTax, Depreciation, & InterestTOTAL EXPENDITURESNET OPERATING MARGINS145,868.6638,723.81170,052.68183,025.38 537,670.53 93,450.022022 Budgeted Expenditures716,184.0031%721,821.00 31%DistributionOperating &MaintenanceEnergy Services517,455.00 19,633.58)% of 1stQtrBudget122%2022 Actuals107%102%88%108%100%-476%2022 Budget% of 21.00156,100.00730,065.29716,184.00 2,324,170.29 235,749.7120%25%23%26%23%40%1st Quarter ExpendituresDistribution Operating &Maintenance183,025.38 34%Energy Services145,868.66 27%General & AdministrativeGeneral &Administrative730,065.29 31%156,100.00Tax, Depreciation,7% & Interest170,052.68 32%38,723.817%Tax, Depreciation, &Interest

Mason County PUD No. 1Status of BudgetAs of March 31, 2022SEWER DIVISION1st Quarter20221st QuarterBudget% of 1st QtrBudget2022 Actuals2022 2165.00105.00 1,579.02 1,132.2347%92%101%56%167%618.83152.18106.09 877.10 1,834.155,236.00660.002,225.00 8,121.00 3,003.00RevenueExpendituresDistribution Operating & MaintenanceEnergy ServicesTax & DepreciationTOTAL EXPENDITURESNET OPERATING MARGINS618.83152.18106.09 877.10 1,887.502022 Budgeted Expenditures2,225.0027%660.00 8%DistributionOperating &Maintenance5,236.0065%12%23%5%11%61%1st Quarter ExpendituresDistribution Operating &Maintenance152.18 17% 106.09 12%Energy ServicesEnergy ServicesTax & Depreciation618.83 71%Tax &Depreciation% ofAnnualBudget24%

Mason County PUD No. 1Treasurer's Report to CommissionMarch 31, 20223/31/2022General Electric CashGeneral Water CashGeneral Sewer CashInvestmentsPetty and RegisterGeneral Funds 261,768.73Designated ReservesCommerical Liability FundComputer Replacement FundContruction Fund (Electric)Contruction Fund (Water)Pole YardPrivilege Tax FundReplacement Equipment FundSubstation FundWater Regulatory FundSystem Development FeeDesignated Reserves 58.02 3,642,529.17Restricted FundsCustomer DepositsElectric Revenue Bond '18Electric Revenue Bond Reserve '18Electric System Revenue Bond 2014Electric System Bond Reserve '14Public Works Trust FundRUS Treasury BondUS Treasury ReservesWater System Revenue Bond '18Restricted Funds 1.446,765,849.34TOTAL ALL FUNDSLong-Term DebtElectric Revenue Bond 2014Electric Revenue Bond 2018PWTFRUS Long Term DebtWater Bond '18Total Long Term DebtBeginnging .302,296,000.0014,198,940.13Principle Payments(29,846.15)(29,846.15)Ending .152,296,000.0014,169,093.98

Mason County PUD No. 1LGIP Investment Activity 1st Qtr 202212/31/2021General Investments834,217.85Transfer InInterest Earned38,100.00Transfers Out3/31/2022872,610.01292.16.Designated ReservesCommerical Liability FundComputer Replacement FundPole YardPrivilege Tax FundReplacement Equipment FundSubstation FundWater Regulatory FundSysyem Development FundDesignated Reserves estricted FundsElectric Revenue Bond '18Electric Revenue Bond Reserve '18Electric System Revenue Bond 2014Electric System Bond Reserve '14Public Works Trust FundRUS Treasury BondWater System Revenue Bond '18Restricted Funds 50478,973.6615,128.491,528,188.24128,013.00TOTAL ALL .25(809,697.27)5,769,867.2978,375.00(100,697.27)

April 11, 2022Mason County PUD No. 1Katie Arnold21971 North Highway 101Shelton, WA 98584karnold@mason-pud1.orgRE:Loan Contract Number: DWL27245Dear Katie Arnold;Enclosed is the Drinking Water State Revolving Fund Loan Contract Number identified above for your signature. TheLoan Contract details the terms and conditions that will govern the agreement between us, which includes the project'sScope of Work as a formal attachment. Failure to return the contracts within 60 calendar days of the date of this letter mayresult in your loan offer being withdrawn.Review, print and sign the document. Once signatures are obtained, scan and return by email todohcon.mgmt@doh.wa.gov or print and sign a hard copy, and return the originals to us for full execution.Please note that the U.S. Environmental Protection Agency is the funding source for this program and the Catalog ofFederal Domestic Assistance (CFDA) number is 66.468. Consequently, the loan funds are federal and subject to bothstate and federal requirements.A non-refundable one-percent loan administration fee will be collected at contract execution (If applicable), including anysubsequent amendments where funds are added. The loan amount may be modified to include an amount sufficient tocover the one-percent loan administration fee. In most cases, the fee will be collected in full at contract execution. Pleasereview the terms and conditions of the Loan Contract and all attachments carefully for details.A requirement of the DWSRF program is that you must maintain updated project records and yearly renewal of yourregistration in the System for Award Management at www.sam.gov.Another requirement of the DWSRF program is that all entities are required to verify that the federal government has notsuspended or debarred them from receiving federal funds. This includes, but is not limited to, project contractors,subcontractors, engineers, architects, consultants, and equipment vendors. The Exclusion Report can be accessed atwww.sam.gov. Failure to provide this required certification may result in termination of your loan contract.After the Loan Contracts have been signed by the Department or its designee, one fully executed original will be returnedto you for your files. Instructions for drawing the loan funds will be returned to you with the executed Loan Contract, aswell as the necessary forms. The Loan Contract specifies that draws may be made for costs that have been incurredwithin the contract period of performance, and which have supporting documentation such as receipts or bills.We are looking forward to working with you over the course of this project. If you have any questions about this LoanContract, please contact me.Sincerely,Eloise RudolphDOH Contract ures:ATTACHMENT I: SCOPE OF WORK (PROJECT)ATTACHMENT II: ATTORNEY'S CERTIFICATIONATTACHMENT III: FEDERAL AND STATE REQUIREMENTSATTACHMENT IV: DISADVANTAGED BUSINESS ENTERPRISE REQUIREMENTSATTACHMENT V: CERTIFICATION REGARDING DEBARMENT, SUSPENSION, AND OTHER RESPONSIBILITY MATTERSATTACHMENT VI: DWSRF ELIGIBLE PROJECT COSTSATTACHMENT VII: LABOR STANDARD PROVISIONS FOR SUBRECIPIENTS THAT ARE GOVERNMENTAL ENTITIES

Washington State Department of HealthDWSRF MunicipalLoan BoilerplateMay 2018Version HistoryDateRevision(s)Version05-15-2018Original - developed via a team of theDWSRF Grant and Loan UnitSupervisor, the DOH Office ofDrinking Water Finance Director, theDOH Office of Contracts andProcurement Technical and PolicyAdvisor, and DOH’s Financial ServicesAssistant Attorney General.1

1. CONTRACT FACE SHEET2021-3999 Loan Number: DWL27245Washington State Department of Health (DOH)Drinking Water State Revolving Fund (DWSRF)Municipal1. BorrowerMason County PUD No. 12. Borrower Doing Business As (optional)21971 North Highway 101Shelton, WA 985843. Borrower TypeConstruction Loan4. Borrower’s Statutory Authority5. Borrower Contract Manager Information6. DOH Contract ManagerKatie ArnoldDistrict AccountantEloise RudolphP.O. Box 47822Olympia, WA 98504-7822360-877-5249karnold@mason-pud1.org7. Project NameRipplewood Tracts Mainline Replacement8. Loan9. Funding Source10. Start DateAmount: 705,762.00Federal:State:Loan Fee: WaivedDOEOther:Interest Rate: 1.2512. Federal Funding Agency Environmental Protection AgencyCatalogue of Federal Assistance (CFDA) Number 66.46813. Borrower Tax ID #91-600104814. SWV #002871-0015. Borrower UBI 1. End Date10/01/204616. Borrower DUNS #17529115217. Contract PurposeDOH and the party identified above as Borrower, hereafter referred to as BORROWER, have entered into thiscontract to fund the project identified above that furthers the goals and objectives of the DOH DWSRF Program.The project will be done by the BORROWER as described in the scope of work and this contract. The rights andobligations of the parties are governed by this contract and the following documents incorporated by reference:General Terms and Conditions including Declarations; Attachment I: Scope of Work (Project); Attachment IIAttorney's Certification; Attachment III: Federal and State Requirements; Attachment IV: Disadvantaged BusinessEnterprise Requirements; Attachment V: Certification Regarding Debarment, Suspension, and Other ResponsibilityMatters; Attachment VI: DWSRF Eligible Project Costs; and Attachment VII: Labor Standard Provisions forSubrecipients that are Governmental Entities. By the signature below, the parties acknowledge and accept theterms of this contract.FOR CONTRACTORSIGNATURE AND DATEFOR DOHSIGNATURE and DATENAME and TITLENAME and TITLEAPPROVED AS TO FORM ONLYMark Calkins, AAG Signature on FileDWL27245 – Mason County PUD No. 1Page 1 of 31DWSRF Loan Contract (Municipal) v1

2. TABLE OF CONTENTS1.CONTRACT FACE SHEET2.TABLE OF CONTENTS3.DECLARATIONS3.1.BORROWER INFORMATION3.2.PROJECT INFORMATION (PROJECT)3.3.CONTRACT COMMUNICATION3.4.LOAN INFORMATION3.5.FUNDING INFORMATION3.6.SPECIAL TERMS AND CONDITIONS4.GENERAL TERMS AND CONDITIONS4.1.AUTHORITY4.2.FULL AGREEMENT4.3.ORDER OF PRECEDENCE4.4.LOAN AMOUNT4.5.LOAN FEE4.6.LOAN TERM4.7.INTEREST RATE4.8.LOAN FORGIVENESS4.9.RELEASE OF LOAN FUNDS AND REQUIRED DOCUMENTATION4.10.TIME OF PERFORMANCE4.11.PROJECT COMPLETION AMENDMENT AND THE PROJECT COMPLETION REPORT4.12.LOAN PAYMENTS4.13.LOAN DEFAULT4.14.LOAN SECURITY4.15.AMENDMENTS, MODIFICATIONS, ASSIGNMENTS AND WAIVERS4.16.AMERICAN IRON AND STEEL4.17.ATTORNEY’S FEES4.18.BONUS AND COMMISSION PAYMENTS NOT ALLOWED4.19.COMPLIANCE4.20.DISPUTES4.21.ELIGIBLE PROJECT COSTS4.22.FALSE, INCORRECT, OR INCOMPLETE INFORMATION OR CLAIM4.23.FINANCIAL AUDIT4.24.GOVERNING LAW AND VENUE4.25.HISTORICAL AND CULTURAL REQUIREMENTS4.26.INDEMNIFICATION4.27.INDUSTRIAL INSURANCE REQUIREMENTSDWL27245 – Mason County PUD No. 1Page 2 of 31DWSRF Loan Contract (Municipal) v1

NG WAGE4.31.PROCUREMENT4.32.PROHIBITION STATEMENT4.33.PROJECT SIGNS4.34.PUBLICITY4.35.RATES AND RESERVES4.36.RECAPTURE4.37.RECORDKEEPING AND ACCESS TO RECORDS4.38.REGISTRATION WITH THE SYSTEM FOR AWARD MANAGEMENT IVAL4.42.TERMINATION FOR CAUSE4.43.TERMINATION OR SUSPENSION FOR CONVENIENCE4.44.TERMINATION PROCEDURES4.45.WORK HOURS AND SAFETY STANDARDSATTACHMENT ISCOPE OF WORK (PROJECT)ATTACHMENT IIATTORNEY’S CERTIFICATIONATTACHMENT IIIFEDERAL AND STATE REQUIREMENTSATTACHMENT IVDISADVANTAGED BUSINESS ENTERPRISE REQUIREMENTSCERTIFICATION REGARDING DEBARMENT, SUSPENSION, AND OTHERATTACHMENT VRESPONSIBILITY MATTERSATTACHMENT VI DWSRF ELIGIBLE PROJECT COSTSLABOR STANDARD PROVISIONS FOR SUBRECIPIENTS THAT ARE GOVERNMENTALATTACHMENT VIIENTITIESDWL27245 – Mason County PUD No. 1Page 3 of 31DWSRF Loan Contract (Municipal) v1

3. DECLARATIONS3.1. BORROWER INFORMATIONLegal Name:Loan Number:Award Year:State Wide Vendor Number:Mason PUD 1DWL272452022002871-003.2. PROJECT INFORMATION (PROJECT)Project Title:Project Location (City or County):Project State:Project Zip Code:Ripplewood Tracts Mainline ReplacementMasonWashington98584Project Scope of Work (PROJECT): Attachment I, attached hereto and incorporated by reference.3.3. CONTRACT COMMUNICATIONCommunications regarding Contract performance is delegated by each party to its Contract Manager. Either party maychange its Contract Manager by expre

12151504/11/2022chk crc cooperative response center, incafter hours answering service 1,360.34 12151604/11/2022chk doh dept. of health madrona beach supply-survey fee 3,000.00 . 12153504/11/2022chk parson parsons diesel & steam service vehicle #65 716.10 12153604/11/2022chk ricoh usa ricoh usa, inc. monthly rent (2)copy machines 514.29 .