LPPD000449

• Contract/PO #: C150013
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

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AMENDMENT NO.1 TO SECURITY AGREEMENT

DEBTOR: The North Poudre Irrigation eompany

SECURED PARTY: eOLORADO WATER eONSERVATION BOARD

DATE OF ORIGINAL SECURITY AGREEMENT: OCTOBER 1, 2001

Original Promissory Note: $1,107,000, dated October 1, 2001, Interest at the
rate of 4.04% per annum with annual payment for a
period of 20 years or until paid in full.
ORIGINAL LOAN eONTRACT: C150013, DATED OCTOBER 1,2001

1. The Parties have amended the ORIGINAL LOAN eONTRACT and Promissory Note to
increase/decrease/other the loan amount from $1,107,000 to $623,777.90 and hereby
amend the original Security Agreement to document the decreased loan amount.

2. The Parties expressly agree that this Amendment is supplemental to the Security
Agreement and all terms, conditions, and provisions thereof, unless specifically modified
below, are to apply to this Amendment as though they were expressly rewritten,
incorporated, and included herein.

Amehded Loan eontract: e150013, dated October 1,. 2001, amended
November 1 , 2Q04

Replacement promissory Note: $623,777.90, dated November 1,2004, ihterest atthe
rate of 4.04% per annum with annual payments for a
period of 20 years or until paid in full

Date of Amended Security Agreement: November 1 , 2004

DEBTOR: The North Poudre Irrigation eompany, a
eolorado nonprofit corporation

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Sharon Seawq~n", Corporate Secretary

Appendix B to Loan Contract C150013 Amendment No.1