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<br />AGENCY NAME: Water Conservation Board <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: O;{ P~II 0003D <br /> <br />Con t r act Arne n d men t No. 2 <br /> <br />THIS AMENDMENT, made this 1st day of October 2001, by and between the <br />State of Colorado for the use and benefit of the Department of Natural Resources, <br />Colorado Water Conservation Board (CWCB), hereinafter referred to as the STATE, and <br />The North Poudre Irrigation Company, a Colorado nonprofit corporation, 3729 <br />Cleveland Avenue, P.O. Box 100, Wellington, Colorado 80549, hereinafter referred to <br />as the CONTRACTOR. <br /> <br />Factual Recitals <br /> <br />A. Authority exists in the law, and funds have been budgeted, appropriated, and <br />otherwise made available and a sufficient unencumbered balance thereof remains <br />available for payment in Fund Number 4008, Contract Encumbrance Number <br />C153385. <br /> <br />B. Required approval, clearance, and coordination has been accomplished from and with <br />appropriate agencies. <br /> <br />C. The State and the Contractor entered into a contract dated May 1, 1982, Contract <br />Encumbrance Number C153385, and amended on May 1, 1985, hereinafter referred <br />to as the Original Contract and incorporated herein by reference, wherein the State <br />agreed to Joan money in the total amount of $1,331,703.71 and the Contractor <br />agreed to repay the loan in accordance with the terms of the Original Contract. <br /> <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 <br />Reservoir in an amount up to $1,107,000, at an interest rate of 4.04% per annum for a <br />duration of 20 years. As a condition of its approval of that loan, the Board requested <br />that the Contractor provide substitute collateral to better secure the principal balance <br />on four existing Construction Fund loans with contract nos. C153385, C153449, <br />C153496, and C153572. <br /> <br />E. The parties agree to amend the contract to provide the substitute collateral and to <br />secure it with a Deed of Trust. <br /> <br />NOW THEREFORE, it is hereby agreed that <br /> <br />1. Consideration for this Amendment to the Original Contract consists of the payments <br />which shall be made pursuant to this Amendment and the Original Contract, as <br />amended, and the promises and agreements herein set forth. <br />