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<br />678734 09/18/2006 09:4!A 8966 P790 OT <br />4 of 5 R 26.00 0 0.00 N 0.00 Logan Counly CO <br /> <br />AMENDMENT No.1 TO DEED OF TRUST <br /> <br />Date: January 6, 2006 <br />Grantor (Borrower): Buffalo Farms Water Development, LLC <br />Beneficiary (Lender): Colorado Water Conservation Board <br />Date of Deed of Trust: January 1, 2005 <br />County of Recording ("County"): Logan <br />Loan Contract: C150191, dated January 1, 2005, <br />amended January 6, 2006 <br />Promissory Note: $277,245, 2.25%, 20 Years, dated <br />January 6, 2006 <br /> <br />This Amendment to the Deed of Trust is between the Grantor and the Public Trustee of the <br />County, State of Colorado. <br /> <br />The Original Deed of Trust, Appendix 5b to Contract No. 150191 dated January <br />1, 2005, secured repayment of the indebtedness evidenced by Loan Contract and <br />Promissory Note between the Grantor and the Beneficiary. <br /> <br />Based upon increases in construction costs, Grantor and Beneficiary have <br />agreed to amend the Original Deed of Trust to reflect the revised loan payment amount. <br /> <br />NOW THEREFORE, the CWCB and Grantor agree that: <br /> <br />1. Paragraph 3 of the Original Deed of Trust is hereby amended to read as follows: <br /> <br />The Grantor has executed a Promissory Note dated January 6, 2006, to secure the <br />repayment of the indebtedness evidenced by Contract No. C150191, dated January <br />6, 2006, as amended on January 6, 2006 for the total principal sum of $277,245, to <br />be repaid to the State of Colorado for the use and benefit of the Department of <br />Natural Resources, Colorado Water Conservation Board ("CWCB") the beneficiary <br />herein, whose address is 1580 Logan Street, Suite 750, Denver, CO 80203, payable <br />in 20 annual installments, in accordance with said Promissory Note, or until the loan <br />is paid in full. <br /> <br />2. In the event of any conflict, inconsistency, variance, or contradiction between the <br />provisions of this amendment and any of the provisions of the original deed of trust, <br />the provisions of this amendment shall in all respects supersede, govern, and <br />control. <br /> <br />3. Any provisions of the original deed of trust not expressly modified herein remain in <br />full force and effect. <br />