C150205 Contract

• Contract/PO #: C150205
• Contractor Name: Veits Pipeline Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Contract Documents

BORROWER: VEITS PIPELINE COMPANY Agency Name: Water Conservation Board
Contract No. C150205 Agency Number PDA
Original Loan Amount: $688,942
Adjustment (Decrease): $470,209.53
Adjusted Loan Amount: $218,732.47
LOAN CONTRACT AMENDMENT NO. 1
(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 1 O, 2003)
This Amendment, made this January 1, 2010, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and the Veits Pipeline Company, P.O. Box 312, Mancos,
CO 81328, a Colorado nonprofit corporation (" BORROWER " or " CONTRACTOR ").
FACTUAL RECITALS
A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
made available for payment in Contract Encumbrance Number C150205.
B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
C. The CWCB and the BoRROwER entered into Contract Encumbrance Number C150205,
dated December 20, 2005 (" ORIGINAL CONTRACT incorporated herein by reference,
wherein the CWCB agreed to loan money in the total amount up to $688,942, and the
BORROWER agreed to repay the loan in accordance with the terms Of the' ORIGINAL
CONTRACT.
D. The project financed with the loan proceeds was substantially complete as of
November 1, 2008, and of the $688,942 loan amount available, the BoRROwER used
only $688,841.21.
E. On November 1, 2008, the BoRROwER made a payment of $470,108.74. Said payment
was applied to principal reduction, leaving a final loan amount of $218,732.47.
F. Furthermore, the BORROWER has legally changed its name from Number Six Ditch
Company to Veits Pipeline Company.
G. The parties agree to amend the contract to reduce the final loan amount to
$218,732.47 and to reflect the change of name to Veits Pipeline Company.
NOW THEREFORE, it is hereby agreed that
1. Consideration for this Amendment to the ORi�itva� CotvTRacT consists of the payments
that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the
promises and agreements herein set forth.
2. It is expressly agreed by the parties that this Amendment is supplemental to the
ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless
specifically modified herein, are to apply to this Amendment as though they were
Loan Contract C150205 Amendment No. 1
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