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BORROWER: LINCOLN PARK CROOKED <br />DITCH COMPANY <br />Contract No. C150230 <br />Original Loan Amount $1,818,000 <br />Adjustment (Decrease): $1,013,314.39 <br />Adjusted Loan Amount $804,685.61 <br />Agency Name: Water Conservation Board <br />Agency Number PDA <br />Routing Number: 09 PDA Qoo ~~ <br />LOAN CONTRACT AMENDMENT NO.1 <br />(STANDARD CONTRACT -WAIVER #160 -APPROVED NOVEMBER 1 O, 2003) <br />This Amendment, made this August 1, 2008, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCB"), and the Lincoln Park Crooked Ditch Company, P.O. Box <br />756, Canon City, CO 81212, a Colorado non-profit corporation, ("BORROWER" or <br />"CONTRACTOR"). <br />FACTUAL RECITALS <br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise <br />made available for payment in Contract Encumbrance Number C150230. <br />B. Required approval, clearance, and coordination have been accomplished from and with <br />appropriate agencies. <br />C. The CWCB and the BORROWER entered into Contract Encumbrance Number C150230, <br />dated October 27, 2006 ("ORIGINAL CONTRACT"), incorporated herein by reference, <br />wherein the CWCB agreed to loan money in the total amount up to $1,818,000, and the <br />BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL <br />CONTRACT. <br />D. The project financed with the loan proceeds was substantially complete as of October <br />27, 2008, and of the $1,818,000 loan amount available, the BORROWER used only <br />$804,685.61. <br />E. The parties agree to amend the contract to reduce the final loan amount to <br />$804,685.61. <br />NOW THEREFORE, it is hereby agreed that . <br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments <br />that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the <br />promises and agreements herein set forth. <br />2. 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 />3. The BORROWER agrees that it shall execute the following document, all of which shall <br />set forth the revised loan amount of $804,685.61: <br />Loan Contract C150230 Amendment No. 1 <br />Page 1 of 5 <br />