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<br />if' <br /> <br />." <br /> <br />AMENDMENT NO.1 TO SECURITY AGREEMENT <br /> <br />DEBTOR: BIJOU IRRIGATION DISTRICT <br /> <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> <br />DATE OF ORIGINAL SECURITY AGREEMENT: SEPTEMBER 8, 2006 <br /> <br />Original Promissory Note: $672,660, dated September 8, 2006, <br />Interest at the rate of 2.50% per annum <br />with annual payment for a period of ao <br />years or until paid in full. <br />ORIGINAL LOAN CONTRACT: C150199, DATED SEPTEMBER 8,2006 <br /> <br />7. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note <br />to increase the loan amount from $672,660 to $723,950 and hereby amend the <br />original Security Agreement to document the change of loan amount. <br /> <br />8. The Parties expressly agree that this Amendment is supplemental to the <br />Security Agreement and all terms, conditions, and provisions thereof, unless <br />specifically modified below, are to apply to this Amendment as though thoy <br />wen3 expressly rewritten, incorporated, and included herein. <br /> <br />Amended Loan Contract: C150199, dated August 20, 2007 <br /> <br />Replacement Promissory Note: $723,950, dated August 20, 2007, <br />interest at the rate of 2.50% per annum <br />with annual payments for a period of ~10 <br />years or until paid in full <br /> <br />Date of Amended Security Agreement: August 20,2007 <br /> <br />DEBTOR: Bijou Irrigation District <br /> <br />SEAL <br /> <br />By {J~ E-. JW~ <br /> <br />Donald Neb, Presidlent <br /> <br />A~ _ <br />By <br />DenicE! M. Wa <br /> <br /> <br />AplPendix C to Loan Contract C150199 Amendment No.1 <br />