|
<br />AMENDMENT NO.1 TO SECURITY AGREEMENT
<br />
<br />DEBTOR:
<br />SECURED PARTY:
<br />.
<br />
<br />Date of Original Security Agreement:
<br />Original Promissory Note:
<br />
<br />PINE RIVER-BAYFIELD DITCH CO.
<br />
<br />COLORADO WATER CONSERVATION BoARD
<br />
<br />OcTOBER 1, 2003
<br />
<br />$202,000 dated October 1, 2003, Interest at
<br />the rate of 2.75% per annum with annual
<br />payment for a period of 30 years or until
<br />paid in full.
<br />ORIGINAL LOAN CONTRACT: C150154, DATED OCTOBER 1,2003
<br />
<br />1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory
<br />Note to increase the loan amount from $202,000 to $232,300 and hereby
<br />amend the original Security Agreement to document the increased loan
<br />amount.
<br />
<br />2. 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 they
<br />were expressly rewritten, incorporated, and included herein.
<br />
<br />Amended Loan Contract:
<br />
<br />Replacement Promissory Note:
<br />
<br />Date of Am~"1~11 $ecurity Agreement:
<br />,......" "-.. . \. " '\
<br />~-. 1
<br />~'::', <t~'it\\JI) /I)J/)I('" J7
<br />:_"/'!\~'\f)d..~-;t::;,;..,,~._/i/ \_ t':~1
<br />Jj .,,\, </' "', G" ,;
<br />j> f>~J :1P Ii>f} \'~:I (t... \, I
<br />--.,! tJ ,-) ~~ _~, f\ ~ . -;
<br />"2 (3,: r . li)... ) -'\ ':' ':-:'~I. '( !'
<br />\;f II.rl l , )~,,)/ \\ L~ ~ -t'
<br />'; ~ 1 '. '.(';~ )'" I. :'-.' ~
<br />':" . , \ -" "~it ,,' /' l
<br />; ('.\ '(;~ 'ib>.. . f ":'1
<br />'J n (;~) - IJ (l
<br />", \~ {~I ~;~ ',,) ij //
<br />..\ ...f~ ~}h On (SS'l S'J E _~
<br />.! ,I .../.' Y n.) _' _ j f' '~") ~ ~
<br />Attest ./'~~l\ .{" ~~J:)nn:)nDq{;{fi'~ " '\ \')"""&..-/ !'~
<br />. I ,,1,1'1,' 'I,;~f/ !Pl(\\\\}~>>./ 1 "
<br />
<br />
<br />~"";"~~
<br />By B-' l-" . '
<br />Jane ." ";'98, Corporate cretary
<br />
<br />
<br />C150154, dated October 1, 2003, amended
<br />August 5, 2005.
<br />
<br />$232,300, dated August 5, 2005, interest at
<br />the rate of 2.75% per annum with annual
<br />payments for a period of 30 years or until
<br />paid in full
<br />
<br />August 5, 2005
<br />
<br />Debtor. THE PINE RIVER-BAYFIELD DITCH
<br />
<br />::MP~~DONM~TIOO
<br />
<br />en Beck, President
<br />
<br />Appendix B to Loan Contract C150154 Amendment No.1
<br />Page 1 of 1
<br />
|