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

AMENDMENT No.1 TO DEED OF TRUST

Date: November 1, 2006
Grantor (Borrower): LOWER BAUER WEST LATERAL, INC
Beneficiary (Lender): Colorado Water Conservation Board
Date of Deed of Trust: August 15, 2005
Recording Date of Deed of Trust: April 28, 2006
County of Recording ("County"): Montezuma
Deed of Trust Recording Information: 539925 (2 pages)
Loan Contract: C150186, dated August 15, 2005,
amended November 1, 2006
Promissory Note: $85,373.44, 2.5%, 30 Years, dated
November 1, 2006

This Amendment to the Deed of Trust is between the Grantor and the Public
Trustee of the 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.

Based upon (e.g., Grantor's financial difficulties, the CWCB deferred Grantor's annual
loan payments for the years 1993, 1999, and 2000, which deferrals resulted in a new
repayment schedule and a different annual payment amount).

Grantor and Beneficiary have agreed to amend the Original Deed of Trust to
reflect the revised annual loan payment amount.

NOW THEREFORE, the CWCB and Grantor agree that:

1. The first full paragraph of the Original Deed of Trust is hereby amended to read as
follows:

The Grantor has executed a Promissory Note dated November 1, 2006, to secure
the repayment of the indebtedness evidenced by Contract No. C150186, dated
August 15, 2005, as amended on November 1, 2006 for the total principal sum of
$86,050, 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.

2. In the event of any conflict, inconsistency, variance, or contradiction between the
provisions of this amendment and any of the provisions of the original deed of trust,
the provisions of this amendment shall in all respects supersede, govern, and
control.

3. Any provisions of the original deed of trust not expressly modified herein remain in
full force and effect.

Appendix C to Loan Contract C150186 Amendment No.1