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<br />.PAID <br /> <br /> <br />"IN FULl. <br /> <br />""MENDMENT No.1 TO <br /> <br />LOAN CONTRACT A~RO~!~SORY NOTE <br /> <br />THIS AMENDMENT, made this~ - day o( ;l)lu<..e. ./ 1998, by <br />and between the State of Colorado for the use and ben .' of the Department of Natural <br />Resources, Colorado Water Conservation Board (CWCB), hereinafter referred to as the <br />STATE, and the Town of Lyons, P.O. Box 49, Lyons, Colorado 80540, hereinafter referred to <br />as the BORROWER and/or CONTRACTOR. <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br /> <br />ROUTING NUMBER: <br /> <br />FACTUAL RECITALS <br /> <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 424, Appropriation Code A01, Contract Encumbrance <br />Number C153721. <br /> <br />B. Required approval, clearance, and coordination has been accomplished from and with <br />appropriate agencies. <br /> <br />C. The STATE and the BORROWER entered into a contract dated October 4, 1996, Contract <br />Encumbrance Number C153721, hereinafter referred to as ORIGINAL CONTRACT, which is <br />incorporated herein by reference, wherein the STATE agreed to loan money in the total <br />amount of $280,500 to partially finance the rehabilitation of the BORROWER'S raw water <br />intake structure, hereinafter referred to as the PROJECT, and the BORROWER agreed to <br />repay the loan in accordance with the terms of the ORIGINAL CONTRACT. <br /> <br />D. The PROJECT was substantially completed as of September 9, 1997. The BORROWER <br />borrowed a total of $226,979.86 of the authorized loan amount of $280,500. The <br />BORROWER'S annual loan payments will be $18,213.45, with the first payment due on <br />September 9, 1998. <br /> <br />E. The Parties agree to amend the contract to reflect the actual loan amount, the annual <br />payment, and the payment due date. <br /> <br />F. Pursuant to the ORIGINAL CONTRACT, the BORROWER pledged revenues from water rates, <br />fees and other charges levied and collected by the BORROWER ("water system revenues") <br />to repay this loan, with the lien created by said pledge of revenues on a parity with the lien <br />of the Colorado Department of Local Affairs stemming from a 1990 Energy Impact <br />Assistance Fund loan, the lien of the BORROWER'S 1991 Joint Revenue Bonds, evidenced <br />by the BORROWER'S Ordinance No. 525, and the lien of the Colorado Water Resources and <br />Power Development Authority ("Authority") stemming from an August 19, 1996 loan from <br />the Drinking Water Revolving Fund. <br /> <br />Town of Lyons <br /> <br />Page 1 of 4 <br /> <br />Amendment NO.1 <br />