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BORROWER: MANCOS VALLEY BEAVER Agency Name: Water Conservation Board <br />DITCH COMPANY Agency Number PDA <br />Contract No. C150185 Routing Number: 09 PDA C~~D <br />Original Loan Amount: $913,798 <br />Adjustment (Decrease): $319,572.94 <br />Adjusted Loan Amount: $250,490.91 <br />LOAN CONTRACT AMENDMENT NO. 2 <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003) <br />This Amendment, made this January 1, 2009, by and befinreen the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB"), and the Mancos Valley Beaver Ditch Company, P.O. Box <br />308, Mancos, CO 81328, a Colorado nonprofit corporation ("BORROWER" or <br />"CONTRACTOR"~. <br />FACTUAL RECITALS <br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise <br />made available for payment in Contract Encumbrance Number C150185. <br />B. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />C. The CWCB and the BoRROwER entered into Contract Encumbrance Number C150185, <br />dated August 15, 2005, and amended February 10, 2006 ("ORIGINAL CONTRACT"), <br />incorporated herein by reference, wherein the CWCB agreed to loan money in the total <br />amount up to $913,798, and the BoRROwER agreed to repay the loan in accordance <br />Wlth the t@I'171S Of the ORIGINAL CONTRACT. <br />D. The project financed with the loan proceeds was substantially complete as of May 1, <br />2008, and of the $913,798 loan amount available, the BORROWER used only <br />$790,943.36. <br />E. On May 1, 2008, the BoRROwER made a payment of $540,452.45. Said payment was <br />applied to principal reduction, leaving a final loan amount of $250,490.91. <br />F. The parties agree to amend the contract to reduce the final loan amount to <br />$250,490.91. <br />NOW THEREFORE, it is hereby agreed that <br />1. Consideration for this Amendment to the ORi~iNa~ CoNTRacT consists of the payments <br />that shall be made pursuant to this Amendment and ORi~iNa~ CoNTRacT and the <br />promises and agreements herein set forth. <br />2. It is expressly agreed by the parties that this Amendment is supplemental to the <br />ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless <br />specifically modified herein, are to apply to this Amendment as though they were <br />expressly rewritten, incorporated, and included herein. <br />Loan Contract C150185 Amendment No. 2 <br />Page 1 of 5 <br />