LPPD000260

• Contract/PO #: C153715
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Contract Documents

a. Promissory Note, attached as Appendix A and incorporated herein, which replaces
and supersedes the Promissory Note in the amount of $3,688,567.74 dated May 28,
1997, attached to the ORIGINAL CONTRACT as Attachment D to Amendment NO.4.
b. Amendment to Subordination Agreement, attached hereto as Appendix Band
incorporated herein, which supplements and operates in conjunction with the
Subordination Agreement, dated January 10,1997.
c. Security Agreement to secure the BORROWER'S Pledge of Revenues and 120 shares of
stock in the Fort Bent Ditch Company evidenced by Certificate No. 1141, attached
hereto as Appendix C and incorporated herein, which replaces and supersedes the
security agreements used to secure the collateral for this loan, including the pledge of
revenues.
d. Deed of Trust to secure all of the water rights pledged by BORROWER to assure
repayment of this loan as described in said deed of trust, attached hereto as Appendix
D and incorporated herein, which replaces and supersedes the nine deeds of trust used
to secure all of the collateral for this loan, including the water rights represented by the
Manvel and Highland shares.
5. The CWCB agrees to execute a UCC-3 Release of Security Agreement and nine
Requests for Release of Deed of Trust, attached hereto as Appendix E and incorporated
herein, to release its security interests in the Manvel and Highland shares and all other
collateral for the loan in exchange for the BORROWER'S reconveyance to the CWCB of a
security interest in all of the collateral for this loan, including the water rights represented by
the Manvel and Highland Shares. The CWCB further agrees that the August 15, 1997
SecUrity Agreement encurnbering 42.4 shares Of the capital stock of tfie HTghlc:lnd,
evidenced by Stock Certificate no. 300 is hereby released.
6. Atter the effective date of this amendment, the CWCB shall (1) deliver the duly executed
Requests for Release of Deed of Trust and the Deed of Trust executed by the BORROWER
(Appendix C) to the appropriate county clerks for recording, (2) deliver the Security
Agreement UCC-1 and the Release of Security Agreement UCC-3 to the Secretary of
State's Office for filing, and (3) void all stock assignments, except the stock assignment
for 120 shares of Fort Bent stock, and deliver the same to the BORROWER along with all
Manvel and Highland Shares stock certificates.
7. The Contract is amended by the addition of the following:
16. Contract Amendment Service Fees. Under certain circumstances, the BORROWER
shall be assessed a fee for amending the contract.
a. A service fee shall be imposed on the BORROWER for amendments processed for
the benefit of the BORROWER and necessary for the BORROWER'S course of
business, including, but not limited to, a change in borrower name (novation),
assignment of contract, substitution of collateral, loan payment deferments in
excess of 3 per loan, and loan consolidation. Amendments in the course of
CWCB business, including, but not limited to, the first three loan payment
deferments and changes in terms of loan repayment will be processed at no
additional charge to the BORROWER.
b. The amount charged shall be the fee rate structure in accordance with the
CWCB Loan Service Charge Policy in effect at the time the BORROWER shall
request an amendment. The current fee for an amendment is $1,000.

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