PROJ01886

• Contract/PO #: C150010
• Contractor Name: Columbine Ranches Property Owners Association
• Contract Type: Loan
• Water District: 1
• County: Adams
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Contract Documents

~:~~~_ ;:":'/:,~'_'~r.

.'

BORROWER: COLUMBINE RANCHES POA
Contract No. C150010A
Original Loan Amount $305,250
Increase: $ 93,750
Adjusted Loan Amount $399,000

Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 03 PDA 000 fi; t/

LOA N CON T RAe TAM END MEN T No. 1

THIS AMENDMENT, made this February 1, 2003, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Board (CWCB), hereinafter referred to as the CWCB or STATE, and
the Columbine Ranches Property Owners Association, a Colorado nonprofit corporation,
hereinafter referred to as the BORROWER and/or CONTRACTOR, 11246 Lewistown Street,
Commerce City, CO 80022.

Factual Recitals

A. Authority exists in the law, and funds have been budgeted, appropriated, and
otherwise made available and a sufficient unencumbered balance thereof remains
available for payment in Fund Number 424, Appropriation Code L99, Contract
Encumbrance Number C15001 oA,

B. Required approval, clearance, and coordination has been accomplished from and with
appropriate agencies.

C. The CWCB and the BORROWER entered into a contract dated June 6, 2000, Contract
Encumbrance Number c1500106J hereinafter referred to as Original Contract,
incorporated herein by reference, wherein the CWCB agreed to loan money in the
total amount of $305,250, and the BORROWER agreed to repay the loan in
accordance with the terms of the Original Contract.

D. The exact water rights that the BORROWER would purchase were not determined at
the time the original contract application was filed in 1998, because of the
uncertainties of availability and purchase price. As the price of water rights has
increased since 1998, the total estimated cost of the project has increased. To
meet the increased costs, the BORROWER requested an additional $93,750, for a
total loan amount of $399,000, which may be used to finance up to 75% of the total
PROJECT cost.

E. At its January 24-25, 2001 meeting, the CWCB approved increasing this loan by
$93,750 for a total loan amount of up to $399,000, to finance up to 75% of the total
Project cost. The terms for the additional $93,750 loan amount are an interest rate of
5.5% per annum and a repayment period of 30 years.

F. Pursuant to SB01-157, Section 3, the Colorado General Assembly authorized the
CWCB to loan to the BORROWER an additional amount not to exceed $93,750 from the
Construction Fund for financing PROJECT costs.

Page 1 of 4