C150186 Contract

• Contract/PO #: C150186
• Contractor Name: Lower Bauer West Lateral, Inc.
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

BORROWER: LOWER BAUER WEST
LATERAL, INC
Contract No. C150186
Original Loan Amount $196,950
Adjustment (Increase/Decrease):
$111,576.56
Adjusted Loan Amount $85,373.44

Agency Name: Water Conservation Board
Agency Number PDA .
Routing Number: 07 PDA /Jp~f-,

LOAN CONTRACT AMENDMENT No. 1
(STANDARD CONTRACT-WAIVER#160-ApPROVED NOVEMBER 10, 2003)

This Amendment, made this November 1, 2006, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Board ("CWCB"), and LOWER BAUER WEST LATERAL, INC, P.O. Box
1045, Mancos, CO 81328, 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 C150186.
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
C150186, dated August 15, 2005, ("ORIGINAL CONTRACT"), incorporated herein by
reference, wherein the CWCB agreed to loan money in the total amount up to
$196,950, and the BORROWER agreed to repay the loan in accordance with the terms
of the ORIGINAL CONTRACT.
D. Pursuant to the Original Contract, the Borrower submitted to the CWCB the amount
that it was reimbursed by the National Resource Conservation Service (NRCS), and
the payment was applied to the Borrower's loan principal balance. This
reimbursement amount from the NRCS was less than that Borrower and CWCB had
anticipated under the Original Contract.
E. As a result of the amount of the reimbursement by the NRCS to the Borrower, at its
July 2006 meeting the CWCB approved revising the amount of the post-construction
loan to the Borrower to $85,373.44, including the 1 % loan service fee. The terms for
the revised loan amount are an interest rate of 2.5% per annum and a repayment
period of 30 years.
F. The parties agree to amend the contract to revise the final loan amount.
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

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