LPPD000301

• Contract/PO #: C150129
• Contractor Name: South Side Ditch Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

BORROWER: SOUTH SIDE DITCH COMPANY Agency Name: Water Conservation Board
Contract No. C150129 Agency Number PDA
Original Loan Amount $ 72,720 Routing Number: 08 PDA _�
Adjustment (Increase): $15,150
Adjusted Loan Amount $87.,870
LOAN CONTRACT AMENDMENT NO. 1
(STANDARD CONTRACT — WAIVER #160 — APPROVED NOVEMBER 1 O, 2003�
This Amendment, made this April 18, 2008, by and befinreen the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Consenration Board ("CWCB"), and the South Side Ditch Company, 1612 W 1St
Street, Loveland, CO 80537, a Colorado nonprofit corporation (" BORROWER " or
"CONTRACTOR"�.
FACTUAL RECITALS
A. Authority exists in the law, and funds have been budgeted, appropriated, and
otherwise made available for payment in Contract Encumbrance Number C150129.
B. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies.
C. The CWCB and the BORROWER entered into Contract Encumbrance Number
C150129, dated March 1, 2003 (" ORIGINAL CONTRACT incorporated herein by
reference, wherein the CWCB agreed to loan money in the total amount up to
$72,720, and the BoRROwER agreed to repay the loan in accordance with the terms of
the ORIGINAL CONTRACT.
D. During construction of the Project, the BoRROwER encountered unforeseen design
modifications not anticipated in the original project cost estimate. To meet the
increased costs, the BORROWER requested an additional $15,000 for a total loan
amount of $87,870 including the 1% loan origination fee.
E. At its March 2008 meeting, the CWCB approved increasing this loan by $15,000 for a
total loan amount of up to $87,870. The terms for the additional loan amount are an
interest rate of 3.1 % per annum and a repayment period of 30 years. A loan service
fee of 1% is included in the additional loan amount In accordance with CWCB Policy
No. 16.
F. The CWCB and the BoRROwER have agreed to amend this contract to increase the
amount of the loan by $15,150 including the 1% loan origination fee for a total loan
amount of up to $87,870.
NOW THEREFORE, it is hereby agreed that
1. Consideration for this Amendment to the ORi�iNa� CoNTwo,cT consists of the payments
that shall be made pursuant to this Amendment and the ORi�itva� CoNTRacT, and the
promises and agreements herein set forth.
2. 2. It is expressly agreed by the parties that this Amendment is supplemental to the
ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless
specifically modified here�n, are to apply to this Amendment as though they were
expressly rewritten, incorporated, and included herein.
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