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<br />AMENDMENT NO.1 TO SECURITY AGREEMENT <br /> <br />DEBTOR: Bijou I rrigation Company <br /> <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> <br />DATE OF ORIGINAL SECURITY AGREEMENT: October 5, 2007 <br /> <br />Original Promissory Note: $763,560, dated October 5,2007, Interest <br />at the rate of 2.25% per annum with <br />annual payment for a period of 30 years <br />or until paid in full. <br />ORIGINAL LOAN CONTRACT: C150255, DATED October 5, 2007 <br /> <br />7. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note <br />to increase the loan amount from $763,560 to $809,010 and hereby amend the <br />original Security Agreement to document the change of loan amount. <br /> <br />8. The Parties expressly agree that this Amendment is supplemental to the <br />Security Agreement and all terms, conditions, and provisions thereof, unless <br />specifically modified below, are to apply to this Amendment as though they <br />were expressly rewritten, incorporated, and included herein. <br /> <br />Amended Loan Contract: <br />Replacement Promissory Note: <br /> <br />C150255, dated April 14, 2008 <br /> <br />$809,010, dated April 14, 2008, interest <br />at the rate of 2.25% per annum with <br />annual payments for a period of 30 years <br />or until paid in full <br /> <br />April 14, 2008 <br /> <br />Date of Amended Security Agreement: <br /> <br />SEAL <br /> <br />DEBTOR: Bijou Irrigation Com/f~.:r <br /> <br />BY~ a.;I~ <br /> <br />Douglas A. Dill, President <br /> <br />By <br /> <br /> <br />Appendix C to Loan Contract C150255 Amendment No.1 <br />