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<br />_~,__- ~J'" <br />V <br /> <br />e <br /> <br />e <br /> <br />AMENDMENT NO.-1 TO SECURITY AGREEMENT <br /> <br />DEBTOR: The Spring Dale Ditch Co. <br /> <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> <br />DATE OF ORIGINAL SECURITY AGREEMENT: AUGUST 15, 2003 <br /> <br />Original Promissory Note: $122,715, dated August 15, 2003, <br />Interest at the rate of 2.75% per annum <br />with annual payment for a period of 30 <br />years or until paid in full. <br />ORIGINAL LOAN CONTRACT: C150145, DATED August 15, 2003 <br /> <br />1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note <br />to decrease the loan amount from $122,715 to $45,325.19 and hereby amend <br />the original Security Agreement to document the change of loan amount. <br /> <br />2. 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: C150145, dated April 1, 2008 <br /> <br />Replacement Promissory Note: $45,325.19, dated April 1, 2008, interest <br />at the rate of 2.75% per annum with <br />annual payments for a period of 30 years <br />or until paid in full. <br /> <br />Date of Amended Security Agreement: April 1, 2008 <br /> <br />DEBTOR: The Spring Dale Ditch Co. <br /> <br />SEAL <br /> <br />BY~t<3~ <br />Leon Fritzler, r Ident <br /> <br />ATTEST: <br /> <br />BylftU~J<~ <br />essica Gale, ecretary <br /> <br />Appendix B to Loan Contract C150145 Amendment No.1 <br />