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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br />DEBTOR <br />SECURED PARTY: <br />EAST MANCOS HIGHLINE DITCH COMPANY <br />COLORADO WATER CONSERVATION BOARD <br />DATE OF ORIGINAL SECURITY AGREEMENT: FEBRUARY 15, 2007 <br />Original Promissory Note <br />ORIGINAL LOAN CONTRACT: <br />$904,000, February 15, 2007, interest at the <br />rate of 2.5% per annum with annual payment <br />for a period of 30 years or until paid in full. <br />C150207, DATED FEBRUARY 15, 2007 <br />1. The Parties have amended the ORi�iNa� LoaN Cotvrt�acr and Promissory Note to <br />decrease the loan amount from $904,000 to $223,404.53 and hereby amend the <br />original Security Agreement to document the change of loan amount. <br />2. The Parties expressly agree that this Amendment is supplemental to the Security <br />Agreement and all terms, conditions, and provisions thereof, unless specifically <br />modified below, are to apply to this Amendment as though they were expressly <br />rewritten, incorporated, and included herein. <br />Amended Loan Contract: C150207, dated April 19, 2010 <br />Replacement Promissory Note: $223,404.53, dated April 19, 2010, interest at <br />the rate of 2.5% per annum with annual <br />payments for a period of 30 years or until paid in <br />full <br />Date of Amended Security Agreement: <br />April 19, 2010 <br />DEBTOR: East Mancos Highline Ditch <br />Company <br />SEAL <br />ATTEST• <br />� <br />Donna Robbins, President <br />. � <br />By � � <br />eslie Rahner, Secretary <br />Appendix B to Loan Contract C150207 Amendment No. 1 <br />Page 1 of 1 <br />