C153770 Contract 2

• Contract/PO #: C153770
• Contractor Name: Summit Reservoir and Irrigation Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Bill Number: SB 97-008
• Loan Projects - Doc Type: Contract Documents

BORROWER: SUMMIT RESERVOIR AND
IRRIGATION COMPANY
Contract No. C153770
Original Loan Authorization $600,000
Original Loan Amount $200,000
First Amended Loan Amount $300,000
Second Amended Loan Amount $300,000

Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 06 PDA c1t5ti 7/

LOAN CONTRACT AMENDMENT No.2
(STANDARD CONTRACT - WAIVER #160 - ApPR~)vED NOVEMBER 10, 2003)

This Amendment, made this March 15, 2006, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and Summit Reservoir and Irrigation Company, P.O. Box
127, Dolores, CO 81323, 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 C153770.
B. Required approval, clearance,and coordination have been accomplished from and
with appropriate agencies.
C. The CWeB and the BORROWER entered into Contract Encumbrance Number
C153770, dated August 14, 1997, and amended on May 1, 2002 ("ORIGINAL
CONTRACT"), incorporated herein by reference, wherein the CWCB agreed to loan
money in the total amount up to $300,000, and the BORROWER agreed to repay the
loan in accordance with the terms of the ORIGINAL CONTRACT.
D. The Promissory Note dated May 1, 2002, contains a typographical error in
Paragraph 1. The Promissory Note stated that the principal sum was for "Six
Hundred Thousand Dollars ($300,000)." The correct principal sum was, and
remains, Three Hundred Thousand Dollars ($300,000).
E. By letter dated May 17, 2005, the BORROWER has requested an extension in the
time the CWCB has allowed for completion of the Project.
F. The CWCB has reviewed the BORROWER'S request and has agreed to amend this
contract extend the time for completion of the project to December 31,2006.
NOW THEREFORE, it is hereby agreed that

1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the
payments that shall be made pursuant to this Amendment and the ORIGINAL
CONTRACT and the promises and agreements herein set forth.
2. The BORROWER agrees that it shall execute the following document, which shall set
forth the loan amount of $300,000:
a. Promissory Note, attached as Appendix A and incorporated herein, which
shall replace and supersede the Promissory Note in the amount of "Six

Loan Contract C153770 Amendment No.2
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