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<br />AMENDMENT NO.1 TO SECURITY AGREEMENT <br /> <br />DEBTOR: LOWER SACRAMENTO CREEK RESERVOIR <br />COMPANY <br /> <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> <br />DATE OF ORIGINAL SECURITY AGREEMENT: MAY 1,2005 <br /> <br />Original Promissory Note: $375,013, dated May 1, 2005, interest <br />at the rate of 3.75% per annum with <br />annual payment for a period of 20 years <br />or until paid in full. <br />ORIGINAL LOAN CONTRACT: C150195, DATED MAY 1,2005 <br /> <br />1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note <br />to decrease the loan amount from $375,013 to $284,621 and hereby amend <br />the original Security Agreement to document the change of loan amount. <br /> <br />2. The Parties expressly agree that this Amendment is supplemental to the <br />Security Agreement and all terms, conditions, and provisions thereof, unless <br />specifically modified below, are to apply to this Amendment as though they <br />were expressly rewritten, incorporated, and included herein. <br /> <br />Amended Loan Contract: C150195, dated January 1,2007 <br /> <br />Replacement Promissory Note: $284,621, dated January 1, 2007, <br />interest at the rate of 3.75% per annum <br />with annual payments for a period of 20 <br />years or until paid in full <br /> <br />Date of Amended Security Agreement: January 1, 2007 <br /> <br />/~~...~"'" <br />,," [',"Pi< "" <br />/....... ," ,.,.tovd Po ~ <br />/ "\.,\\J "----.-..:(SB <br />/ /~,,-~.1 .,,-,,/'-'''' " /I~. <br />~r C:T;.'U \~ I <br />I.. ~.:" 1 SI'I2~At'.c.~.J } ru .1 <br />'\ c., \ .~ I <br />\::} \ / ~ I <br />~-.-~. I <br />A'~lORf\~~/. .. -r'. ..4 . <br />By ----.- j LJ~U <br />William M. Blatchley, Secretary-Treasur r <br /> <br />DEBTOR: Lower Sacramento Creek Reservoir <br />Company <br /> <br />By &((}j~ <br /> <br />/' George Oliver, President <br /> <br />Appendix B to Loan Contract C150195 Amendment No.1 <br />Page 1 of 1 <br />