C150239 Contract

• Contract/PO #: CT2015-021
• Contract/PO #: C150239
• Contractor Name: Greeley Irrigation Company
• Contract Type: Loan
• Water District: 0
• County: Weld
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment No.2 Original Loan Contract No. CORE: CT2015-021
C150239
Original CMS No. 66156
Amendment CMS Number No.
81143
1) PARTIES
This Amendment No. 2 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called
the ORIGINAL CONTRACT) is entered into by and between the Greeley Irrigation Company, a Colorado
nonprofit corporation (BORROWER), and the State of Colorado (hereinafter called the "STATE") acting
by and through the Department of Natural Resources, Colorado Water Conservation Board,
(hereinafter called "CWCB").
2) EFFECTIVE DATE AND ENFORCEABILITY
This AMENDMENT shall not be effective or enforceable until it is approved and signed by the Colorado
State Controller or designee (hereinafter called the "EFFECTIVE DATE"), but shall be effective and
enforceable thereafter in accordance with its provisions.
3) FACTUAL RECITALS
The Greeley Irrigation Company was approved for a loan from the CWCB totaling $2,233,867.00 on
April 16, 2003, as amended on June 16, 2009, collectively known as the ORIGINAL CONTRACT, to
finance the Greeley Canal No. 3 Rehabilitation and Upgrade Project (PROJECT). The PROJECT was
substantially completed as of July 1, 2015. The Parties agree to amend the contract to reduce the final
loan amount. The total amount disbursed under this contract was $1,134,839.35. An adjustment of
$1,099,027.65 will be made to the contract for the funds no longer needed.
4) CONSIDERATION
Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be
made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein
set forth.
The Parties acknowledge that the mutual promises and covenants contained herein and other good
and valuable consideration are sufficient and adequate to support this AMENDMENT.
5) LIMITS OF EFFECT
This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL
CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as
specifically modified herein.
6) MODIFICATIONS.
The ORIGINAL CONTRACT No. CT2015-021 (C150360) and all prior amendments thereto, if any, are
modified as follows:
a) Amend the contract to reduce the final loan amount. The loan contract was substantially
completed as of July 1, 2015. The total amount disbursed under this contract was
$1,134,839.35. A decrease of $1,099,27.65 will be made to the total loan contract amount for
the funds no longer needed.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$1,134,839.35:
C) AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 2, LOAN CONTRACT NO.
CT2015-021 (C150239), in the amount of $1,134,839.35 and incorporated herein, which shall
replace and supersede the original PROMISSORY NOTE dated FEBRUARY 27, 2007 in the amount
of$2,233,867, attached to the ORIGINAL CONTRACT as APPENDIX 2.
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