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BORROWER: SOUTH SIDE RESERVOIR COMPANY Contract No. C150130 Original Loan Amount: $363,300 Adjustment (Decrease): $202,082.95 Adjusted Loan Amount: $161,217.05 Agency Name: Water Conservation Board Agency Number PDA LOAN CONTRACT AMENDMENT No . 1 (STANDARD CONTRACT — WAIVER #160 — APPROVED NOVEMBER 1 O, 2003) This Amendment, made this December 15, 2009, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB"), and the South Side Reservoir Company, P.O. Box 7453, Loveland, CO 80537-0453, a Colorado nonprofit corporation (" BORROWER " or "CONTRACTOR"). FACTUAL RECITALS A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available for payment in Contract Encumbrance Number C150130. B. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. C. The CWCB and the BoRROwER entered into Contract Encumbrance Number C150130, dated March 1, 2003 (" ORIGINAL CONTRACT incorporated herein by reference, wherein the CWCB agreed to loan money in the total amount up to $363,300, and the BoRROwER agreed to repay the loan in accordance with the terms of the ORi�irva� CoNTRacT. D. The project financed with the loan proceeds was substantially complete as of July 1, 2009, and of the $363,300 loan amount available, the BORROwER used only $161,217.05. E. The parties agree to amend the contract to reduce the final loan amount to $161,217.05. NOW THEREFORE, it is hereby agreed that 1. Consideration for this Amendment to the ORIGINAL CONTRACT COnsists of the payments that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements herein set forth. 2. It is expressly agreed by the parties that this Amendment is supplemental to the ORi�nva� CONTRACT and all terms, conditions, and provisions thereof, unless specifically modified herein, are to apply to this Amendment as though they were expressly rewritten, incorporated, and included herein. 3. The BoRROwER agrees that it shall execute the following document, all of which shall set forth the revised loan amount of $161,217.05: a. Promissory Note, attached as Appendix A and incorporated herein, which shall replace and supersede the Promissory Note in the amount of $363,300 dated March 1, 2003, attached to the ORIGINAL CONTRACT as Appendix 2. Loan Contract C150130 Amendment No.1 Page 1 of 5