PROJC01825 ‎(2)‎

• Contract/PO #: C150234
• Contractor Name: Headgate 396 Lateral Corporation
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

BORROWER: HEADGATE 396 LATERAL
CORPORATION
Contract No. C150234
Original Loan Amount $232,300
Adjustment (Decrease): $103,308.80
Adjusted Loan Amount $128,991.20

Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 08 PDA tiIJ/J ~

LOAN CONTRACT AMENDMENT No.1

(STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003)

This Amendment, made this April 1, 2008, by and between the State of Colorado
for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and the Headgate 396 Lateral Corporation, P.O. Box 2991,
Grand Junction, CO 81501, a Colorado nonprofit corporation ("BORROWER" or
"CONTRACTOR").

FACTUAL RECITALS

A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
made available for payment in Contract Encumbrance Number C150234.

B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.

C. The CWCB and the BORROWER entered into Contract Encumbrance Number C150234,
dated February 26, 2007 ("ORIGINAL CONTRACT"), incorporated herein by reference,
wherein the CWCS agreed to loan money in the total amount up to $232,300, and the
BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL
CONTRACT.

D. The project financed with the loan proceeds was substantially complete as of
December 1, 2007, and of the $232,300 loan amount available, the BORROWER used
only $228,998.83.

E. On December 1,2007, the BORROWER made a payment of $100,007.63. Said payment
was applied to principal reduction, leaving a final loan amount of $128,991.20.

F. The parties agree to amend the contract to reduce the final loan amount to
$128,991.20.

NOW THEREFORE, it is hereby agreed that

1. 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.

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.

Loan Contract C150234 Amendment No.1
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