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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Water Supply Planning & Finance Section <br />1580 Logan Street, Suite 750 <br />Denver, Colorado 80203 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />September 27,2005 <br /> <br />Russell George <br />Executive Director <br /> <br />Pine River Bayfield Ditch Company <br />Attn: Ken Beck, President <br />P. O. Box 3345 <br />Durango, CO 81302 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Subject: Loan Contract Cl50154 Amendment No. I <br /> <br />Dear Mr. Beck: <br /> <br />Enclosed for the Company's records is the original of Contract Cl50154 Amendment No. I for <br />the $30,300 increase to your loan from the Colorado Water Conservation Board. The new <br />adjusted loan amount is now $232,300. <br /> <br />The loan funds are now available. Please contact Tim Feehan of the CWCB at 303-866-3480 <br />regarding loan disbursements. <br /> <br />Thank you for all of your cooperation during the contracting process. If you have any questions, <br />please contact me at 303-866-3462. <br /> <br /> <br />Chad Henderson <br />Loan Contract Manager <br />Water Supply Planning and Finance Section <br /> <br />cc: <br /> <br />Nancy Agro, Esq. <br />c/ CWCB Contract File <br />CWCB Chrono File <br />