C150190 Contract

• Contract/PO #: C150190
• Contractor Name: Beaver Reservoir Company
• Contract Type: Loan
• Water District: 59
• County: Gunnison
• Loan Projects - Doc Type: Contract Documents

expressly rewritten, incorporated, and included herein.
3. The CWGB agrees that it shali loan the BoRROwER an additional loan amount of
$25,000 plus the 1% loan service fee for a loan amount of $25,250 to finance up to
90% Of PI'OjeCt COStS (ADDITIONAL LOAN AMOUNT�. The tel"1'1'1S fOt' the ADDITIONAL LOAN
AMOUNT are an interest rate of 2.5% per annum for a term of 30 years. The
BORROWER hereby agrees to repay the loan in accordance with the terms of the
ORi�iNa� CorvTRacT as herein amended and the attached Promissory Note.
4. The BORROWER Board of Directors adopted resolutions dated June 16, 2005,
attached to the Original Contract as Appendix 3, which authorized the Borrower to
borrow the amount of $129,785 or such actual amount more or less as may be
needed by the Borrower from the CWCB to finance the project costs.
5. Prior to the execution of this Amendment by the CWCB, the BoRROwER shall submit
to the CWCB a letter from its attorney stating that i# is the attorney's opinion that (1)
the person(s) signing for the BoRROwER was duly elected or appointed and has
authority to sign such documents on behalf of the BORROWER and to bind the
BORROWER (2) the BORROWER governing body has validly adopted a resolution
approving this Amendment; (3) there are no provisions in the any state or local law
that prevent this Amendment from binding the BoRROwER; and (4) this Amendment
will be valid and binding against the BoRROwER if entered into by the CWCB.
6. The BoRROwER agrees that it shall execute the following documents, all of which shall
set forth the loan amount of $155,035 which includes the 1% loan service fee:
a. Promissory Note, attached as Appendix A and incorporated herein, which shafl
replace and supersede the Promissory Note in the amount of $129,785 dated
June 13, 2005 af�aChG'd t0 the ORIGINAL CONTRACT aS ApPetldlX 2.
b. Amended Security Agreement, attached hereto as Appendix B and incorporated
herein, which shall supplement and operate in conjunction with the Security
Agreement dated June 13, 2005, attached to the ORi�irva� CoNTFtacr as Appendix
4.
c. Amended Deed of Trust, attached hereto as Appendix C and incorporated herein,
which shall supplement and operate in conjunction with the Deed of Trust dated
June 13, 2005, attached to the ORi�iNa� CorvTRacT as Appendix 5.
EXCG'pt f01' the SPECIAL PROVISIONS in the event of any conflict, inconsistency, variance, or
contradiction between the provisions of this Amendment and any of the provisions of the
ORIGINAL CONTRACT the provisions of this Amendment shall in all respects supersede,
govern, and control. The SPECIAL PROVISIONS Shall always be controlling over other
provisions in the contract or amendments. The representations in the SPECIAL
PROVisioNS concerning the absence of bribery or corrupt influences and personal interest
of STaTE employees are presently reaffirmed.
Financial obligations of the state payable after the current fiscal year are contingent upon
funds for that purpose being appropriated, budgeted, and otherwise made available.
This amendment shall not be deemed valid or effective until it shall have been approved
by the controller of the State of Colorado or such assistant as he may designate.
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