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2005-003960 04/21/2005 11:00A AMD SARA L ROSENE 1 of 2 R 11.00 D 0.00 GRAND COUNTY CLERK AMENDMENT No. 1 TO DEED OF TRUST Date: September 20, 2004 Grantor (Borrower): East Fork Mutual Irrigation Company Beneficiary (Lender): State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board Date of Deed of Trust: March 1, 2004 Recording Date of Deed of Trust: April 20, 2004 County of Recording ("County"): Grand County Deed of Trust Recording Information: 2004-004566 (2 pages) Loan Contract: C150166, dated March 1, 2004, amended September 20, 2004 Promissory Note: $381,272 at 2.5%, 30 Years, dated September 20,2004 This Amendment to the Deed of Trust is between the Grantor and the Public Trustee of Grand County, State of Colorado. The Original Deed of Trust was recorded to secure repayment of the indebtedness evidenced by Loan Contract and Promissory Note between the Grantor and the Beneficiary. The amount of the loan to the Grantor was decreased from $259,860 to $381,272. The Grantor and Beneficiary have agreed to amend the Original Deed of Trust to reflect the loan amount of $533,806.33. NOW THEREFORE, the CWCB and Grantor agree that: 1. The second full paragraph of the Original Deed of Trust is hereby amended to read as follows: The Grantor has executed a Promissory Note dated September 20,2004, to secure the repayment of the indebtedness evidenced by Contract No. C150166, dated March 1, 2004, as amended on September 20, 2004 for the total principal sum of $381,272.00, to be repaid to the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB") the beneficiary herein, whose address is 1313 Sherman Street, Room 721, Denver, CO 80203, payable in 30 annual installments, in accordance with said Promissory Note, or until the loan is paid in full. Appendix 3 to Loan Contract C150166 Amendment No.1