|
<br />BORROWER: GUENZI (KEN, DAVE & JOHN)
<br />Contract No. C150174
<br />Original Loan Amount $334,739
<br />Increase: $17,261
<br />Adjusted Loan Amount $352,000
<br />
<br />Agency Name: Water Conservation Board
<br />Agency Number PDA
<br />Routing Number: 06 PDA /It?tJ 2-. Y.
<br />,
<br />
<br />LOAN CONTRACT AMENDMENT No.1
<br />(STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003)
<br />
<br />This Amendment, made this September 1, 2005, by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board ("CWCB"), and Kenneth Guenzi, David Guenzi, and John Guenzi, jointly
<br />and severally, 916 Fairhurst, Sterling, Colorado 80751, Colorado individuals ("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 in Contract Encumbrance Number C150174, Fund Number
<br />424, Appropriation Code MS4, Organization VYYY, GBL G174, Program WTRC, Object
<br />Code 5897, Reporting Category 0174.
<br />
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />
<br />C. The CWCB and the BORROWER entered into Contract Encumbrance Number C150174,
<br />dated October 29, 2004 ("ORIGINAL CONTRACT"), incorporated herein by reference, wherein
<br />the CWCB agreed to loan money in the total amount up to $334,739, and the BORROWER
<br />agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT.
<br />
<br />D. During construction, costs for the well drilling and the electrical work exceeded the
<br />engineer's estimate. To meet the increased costs, the BORROWER requested an
<br />additional $17,261 for a total loan amount of $352,000.
<br />
<br />E. At its March 22, 2005 meeting, the CWCB approved increasing this loan by $17,261
<br />($17,090 for Project costs and $171 for the 1 % Loan Service Fee) for a total loan amount
<br />of up to $352,000 of the total Project costs. The terms for the additional loan amount are
<br />an interest rate of 2.5% per annum and a repayment period of 30 years.
<br />
<br />F. The CWCB and the BORROWER have agreed to amend this contract to increase the
<br />amount of the loan by $17,261 ($17,090 for Project costs and $171 for the 1% Loan
<br />Service Fee) for a total loan amount of up to $352,000 to finance Project costs.
<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 />that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT, and the
<br />promises and agreements herein set forth.
<br />
<br />2. 2. It is expressly agreed by the parties that this Amendment is supplemental to the
<br />ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless specifically
<br />modified herein, are to apply to this Amendment as though they were expressly rewritten,
<br />
<br />LOAN CONTRACT C150174 Amendment No.1
<br />Page 1 of 3
<br />
|