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<br />3. The CWCB agrees that it shall loan the BORROWER an additional loan amount of <br />$26,237 ($25,977 for Project costs plus $260 for the 1 % loan service fee) <br />(ADDITIONAL LOAN AMOUNT). The terms for the ADDITIONAL LOAN AMOUNT are an <br />interest rate of 2.5% per annum for a term of 30 years. The BORROWER hereby <br />agrees to repay the loan in accordance with the terms of the ORIGINAL CONTRACT as <br />herein amended and the attached Promissory Note. <br />4. The BORROWER has adopted a resolution, irrepealable for the term of this loan, <br />authorizing the BORROWER to enter into this contract amendment to borrow the <br />ADDITIONAL LOAN AMOUNT, to establish and collect assessments sufficient to pay the <br />annual loan payments, to pledge said assessments for repayment of the loan, and to <br />execute documents necessary to convey a security interest in said assessments and <br />collateral, if necessary, to the CWCB. Said resolution is attached as Appendix A. <br />5. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit <br />to the CWCB a letter from its attorney stating that it is the attorney's opinion that (1) <br />the person(s) signing for the BORROWER was duly elected or appointed and has <br />authority to sign such documents on behalf of the BORROWER and to bind the <br />BORROWER; (2) the BORROWER'S governing body has validly adopted a resolution <br />approving this Amendment; (3) there are no provisions in the any state or local law <br />that prevent this Amendment from binding the BORROWER; and (4) this Amendment <br />will be valid and binding against the BORROWER if entered into by the eWCB. <br />6. The BORROWER agrees that it shall execute the following documents, all of which shall <br />set forth the loan amount of $383,254 which includes the 1 % loan service fee: <br />a. Promissory Note, attached as Appendix A and incorporated herein, which shall <br />replace and supersede the Promissory Note in the amount of $357,017, dated <br />September 1, 2003, attached to the ORIGINAL CONTRACT as Appendix 2. <br />b. Amended Deed of Trust, attached hereto as Appendix B and incorporated herein, <br />which shall supplement and operate in conjunction with the Deed of Trust, dated <br />September 1, 2003, attached to the ORIGINAL CONTRACT as Appendix 3. <br />7. The parties agree that the ORIGINAL CONTRACT, is and shall be modified, altered, and <br />changed in the following respects only: <br />8. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency, <br />variance, or contradiction between the provisions of this Amendment and any of the <br />provisions of the ORIGINAL CONTRACT, the provisions of this Amendment shall in all <br />respects supersede, govern, and control. The SPECIAL PROVISIONS shall always be <br />controlling over other provisions in the contract or amendments. The representations <br />in the SPECIAL PROVISIONS concerning the absence of bribery or corrupt influences and <br />personal interest of STATE employees are presently reaffirmed. <br />9. Financial obligations of the state payable after the current fiscal year are contingent <br />upon funds for that purpose being appropriated, budgeted, and otherwise made <br />available. <br />10. This amendment shall not be deemed valid or effective until it shall have been <br />approved by the controller of the State of Colorado or such assistant as he may <br />designate. <br /> <br />Page 2 of 3 <br />