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<br />AGENCY NAME: Water Conservation Boaru
<br />
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: O;;Z f1.
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<br />
<br />Con t r act A men d men t No. 2
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<br />THIS AMENDMENT, made this 1st day of October 2001, by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board (CWCB), hereinafter referred to as the STATE, and Tthe North Poudre
<br />Irrigation Company, a Colorado nonprofit corporation, 3729 Cleveland Avenue, P.O. Box 100,
<br />Wellington, Colorado 80549, hereinafter referred to as the CONTRACTOR.
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<br />Factual Recitals
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<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise.
<br />made available and a sufficient unencumbered balance thereof remains available for
<br />payment in Fund Number 4008, Contract Encumbrance Number C153572.
<br />"'"'
<br />B. Required approval, clearance, and coordination has been accomplished from and with
<br />appropriate agencies.
<br />C. The State and the Contractor entered into a contract dated February 27, 1990, Contract
<br />Encumbrance Number C153572 and amended on June 11, 1991, hereinafter referred to
<br />as Original Contract and incorporated herein by reference, wherein the State agreed to
<br />loan money in the total amount of $340,550.90, and the Contractor agreed to repay the
<br />loan in accordance with the terms of the Original Contract.
<br />D. At its January 27, 1999 meeting, the CWCB approved a loan to the Contractor for
<br />rehabilitation projects on Reservoir No.4, Reservoir No.5, and Indian Creek Reservoir in
<br />an amount up to $1,107,000, at an interest rate of 4.04% per annum for a repayment term
<br />of 20 years. As a condition of its approval of that loan, the Board requested that the
<br />Contractor provide substitute collateral to better secure the principal balance on four
<br />existing Construction Fund loans with contract nos. C153385, C153449, C153496, and
<br />C153572.
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<br />E. The parties agree to amend the contract to provide the substitute collateral and the deed
<br />of trust.
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<br />NOW THEREFORE, it is hereby agreed that
<br />1. Consideration for this Amendment to the Original Contract consists of the payments that
<br />shall be made pursuant to this Amendment and the Original Contract, as amended, and
<br />the promises and agreements herein set forth.
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the Original
<br />Contract, and all terms, conditions, and provisions thereof, unless specifically modified
<br />herein, are to apply to this Amendment as though they were expressly rewritten,
<br />incorporated, and included herein.
<br />3. It is agreed the Original Contract is and shall be modified, altered, and changed in the
<br />following respects only:
<br />a. Paragraph B.13 is replaced by the following:
<br />The Contractor promises to pay the State the principal sum of Three Hundred Forty
<br />Thousand Five Hundred Fifty and 90/100 Dollars ($340,550.90) plus interest at the rate
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