PROJ01977 ‎(2)‎

• Contract/PO #: C150011
• Contractor Name: Consolidated Mutual Water Company, The
• Contract Type: Loan
• Water District: 7
• County: Jefferson
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Contract Documents

AMENDMENT NO.2 TO SECURITY AGREEMENT

DEBTOR: The Consolidated Mutual Water
Company

SECURED PARTY: COLORADO WATER CONSERVATION BOARD

DATE OF ORIGINAL SECURITY AGREEMENT: SEPTEMBER 13, 1999, AND AMENDED APRIL
26,2000

Original Promissory Note as Amended: $16,300,000, dated April 26, 2000,
Interest at the rate of 4.85% per annum
with annual payment for a period of 10
years or until paid in full.
ORIGINAL LOAN CONTRACT: C150011, DATED SEPTEMBER 13, 1999,
AND AMENDED APRIL 26, 2000 AND
SEPTEMBER 21,2001

1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note
to decrease the loan amount from $16,300,000 to $9,110,487.53, increase the
interest rate from 4.85% to 5.10%, defer payment for a period of five (5) years,
and change the repayment period from ten (10) to five (5) years, and hereby
amend the original Security Agreement to document the change of loan
amount, repayment period, and interest rate.

2. The Parties expressly agree that this Amendment is supplemental to the
Security Agreement and all terms, conditions, and provisions thereof, unless
specifically modified below, are to apply to this Amendment as thou9h they
were expressly rewritten, incorporated, and included herein.

Amended Loan Contract: C150011, dated October 12, 2006

Replacement Promissory Note: $9,1101,487.53, dated October 12, 2006,
interest at the rate of 5.10% per annum
with annual payments for a period of 5
years or until paid in full

Date of Second Amended Security Agreement: October 12, 2006

(SEAL)

Debtor: The Consolidated Mutual Water
Company, a Colorado nonprofit
corporation

Bydlt: I~/(d-~

Appendix C to Loan Contract C150011 Amendment No.3