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, <br />BORROWER: NEW CACHE LA POUDRE <br />IRRIGATING CO. <br />Contract No. C150163 <br />Original Loan Amount $7,272,000 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number: 09 PDA dQ0 3 <br />LOAN CONTRACT AMENDMENT NO.1 <br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 10, 2003) <br />This Amendment, made this April 10, 2008, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado <br />Water Conservation Board ( "CWCB "), and NEW CACHE LA POUDRE IRRIGATING COMPANY, <br />P. 0. Box 104, Lucerne, Colorado 80646, a Colorado nonprofit corporation ( "BORROWER" <br />or "CONTRACTOR "). <br />FACTUAL RECITALS <br />A. Authority exists in the law, and funds have been budgeted, appropriated, and <br />otherwise made available for payment in Contract Encumbrance Number C150163. <br />B. Required approval, clearance, and coordination have been accomplished from and <br />with appropriate agencies. <br />C. The CWCB and the BORROWER entered into Contract Encumbrance Number <br />C150163, dated July 1, 2004 ( "ORIGINAL CONTRACT "), incorporated herein by <br />reference, wherein the CWCB agreed to loan money in the total amount up to <br />$7,272,000, and the BORROWER agreed to repay the loan in accordance with the <br />terms of the ORIGINAL CONTRACT. <br />D. The BORROWER has requested an extension in the time the CWCB has allowed for <br />completion of the Project as well as a reduction of the repayment term. <br />E. The CWCB has reviewed the BORROWER's request and has agreed to amend this <br />contract to extend the time for completion of the project until January 1, 2014 and to <br />reduce the term of repayment to 20 years. <br />NOW THEREFORE, it is hereby agreed that <br />2. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments <br />that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the <br />promises and agreements herein set forth. <br />3. 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 />4. The CWCB agrees that it shall extend the time for completion of the BORROWER's <br />Project until January 1, 2014. <br />5. The CWCB and the Borrower agree that the repayment term shall be reduced from <br />30 years to 20 years. <br />Page 1 of 5 <br />