C150189 Contract

• Contract/PO #: C150189
• Contractor Name: Larimer and Weld Irrigation Company, The
• Contract Type: Loan
• Water District: 2
• County: Weld
• Loan Projects - Doc Type: Contract Documents

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 expressly
rewritten, incorporated, and included herein.
3. The CWCB agrees that it shall loan the BORROWER an additional loan amount of
$105,492 plus the 1 % loan service fee for a loan amount of $1,620,492 to finance up
to 90% of Project costs (ADDITIONAL LOAN AMOUNT). The terms for the ADDITIONAL
LOAN AMOUNT are an interest rate of 2.5% per annum for a term of 30 years. The
BORROWER hereby agrees to repay the loan in accordance with the terms of the
ORIGINAL CONTRACT as herein amended and the attached Promissory Note.
4. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit
to the CWCB a letter from its attorney stating that it is the attorney's opinion that (1)
the person(s) signing for the BORROWER was duly elected or appointed and has
authority to sign such documents on behalf of the BORROWER and to bind the
BORROWER; (2) the BORROWER'S governing body has validly adopted a resolution
approving this Amendment; (3) there are no provisions in the any state or local law
that prevent this Amendment from binding the BORROWER; and (4) this Amendment
will be valid and binding against the BORROWER if entered into by the CWCB.
5. The BORROWER agrees that it shall execute the following documents, all of which shall
set forth the loan amount of $1 ,620,492 which includes the 1 % loan service fee:
a. Promissory Note, attached as Appendix A and incorporated herein, which shall
replace and supersede the Promissory Note in the amount of $1,515,000 dated
December 15, 2004, attached to the ORIGINAL CONTRACT as Appendix 2.
b. Amended Security Agreement, attached hereto as Appendix B and incorporated
herein, which shall supplement and operate in conjunction with the Security
Agreement dated December 15, 2004, attached to the ORIGINAL CONTRACT as
Appendix 4.
c. Amended Deed of Trust, attached hereto as Appendix C and incorporated herein,
which shall supplement and operate in conjunction with the Deed of Trust dated
December 15, 2004, attached to the ORIGINAL CONTRACT as Appendix 5.
6. The parties agree that the ORIGINAL CONTRACT, is and shall be modified, altered, and
changed in the following respects only:
a. Section 4 of the Project Summary, attached to the Original Contract as Appendix 1,
is amended by the addition of the paragraph: "At its September 2007 meeting, the
CWCB approved increasing this loan by $105,492 for a total loan amount of up to
$1,620,492, to finance up to 90% of the total Project cost. The terms for the
additional loan amount are an interest rate of 2.5% per annum and a repayment
period of 30 years. A loan service fee of 1 % shall be imposed on the additional
loan amount In accordance with CV\(qs Policy No. 16. "
b. Section 11 of the Project SummarY;. Time for Performance, is revised to read as
follows: PROJECT Finish: 4 years from the Effective Date of this Contract.
7. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency, variance,
or contradiction between the provisions of this Amendment and any of the provisions of
the ORIGINAL CONTRACT, the provisions of this Amendment shall in all respects
supersede, govern, and control. The SPECIAL PROVISIONS shall always be controlling
over other provisions in the contract or amendments. The representations in the
SPECIAL PROVISIONS concerning the absence of bribery or corrupt influences and
personal interest of STATE employees are presently reaffirmed.
8. Financial obligations of the state payable after the current fiscal year are contingent
upon funds for that purpose being appropriated, budgeted, and otherwise made
available.

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