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<br />BORROWER: NORTH POUDRE IRRIGATION eo.
<br />eontract No. C150013
<br />Original Loan Amount $1,107,000
<br />Adjustment (Decrease): $483,222.10
<br />Adjusted Loan Amount $623,777.90
<br />
<br />Agency Name: Water eonservation Board
<br />Agency Number PDA
<br />Routing Number: 05 PDA tJoa??B
<br />
<br />LOAN CONTRACT AMENDMENT No. 1
<br />(STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003)
<br />
<br />This Amendment, made this November 1, 2004, by and between the State of Colorado
<br />for the use and benefit of the Department of Natural Resources, eolorado Water Conservation
<br />Board ("CWCB"), and The North Poudre Irrigation Company, 3229 Cleveland Avenue, P. O. Box
<br />100, Wellington, eolorado 80549, a eolorado nonprofit corporation ("BORROWER" or
<br />"CONTRACTOR").
<br />
<br />FACTUAL RECITALS
<br />
<br />A. Authority exists in the law, and funds have 'been budgeted, appropriated, and otherwise
<br />made available for payment as follows: Fund Number 424, Organization YYYV, Appropriation
<br />Code L98, GBL NPI2, Program WTRe, Object eode 5881, Reporting Category 0013,
<br />eontract Encumbrance No. e150013.
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />e. The eWeB and the BORROWER entered into Contract Encumbrance Number e150013,
<br />dated October 1, 2001, ("ORIGINAL eONTRACT"), incorporated herein by reference, wherein the
<br />CWCB agreed to loan money in the total amount up to $1,107,000, and the BORROWER
<br />agreed to repay the loan in accordance with the terms of the ORIGINAL eONTRACT.
<br />D. The Project was substantially complete as of May 1, 2004.
<br />E. Of the $1,107,000 loan amount available, only $623,777.90 was disbursed to the BORROWER
<br />for the PROJECT.
<br />
<br />F. The parties agree to amend the contract to reduce the final loan amount.
<br />NOW THEREFORE, it is hereby agreed that
<br />1. Consideration for this Amendment to the ORIGINAL eONTRACT consists of the payments that
<br />shall be made pursuant to this Amendment and ORIGINAL eONTRACT and the promises and
<br />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. The BORROWER agrees that it shall execute the following documents, all of which shall set
<br />forth the revised loan amount of $623,777.90:
<br />
<br />a. Promissory Note, attached as Appendix A and incorporated herein, which shall replace
<br />and supersede the Promissory Note in the amount of $1,107,000, dated October 1, 2001,
<br />
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