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.~ AGENCY NAME: Water Conservation Board AGENCY NUMBER: PDA ROUTING NUMBER: Q 1 P~l~ D 0~3 'J~ Contract Amendment No. 1 This Amendment, made this l~~ day of December 2000, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board, hereinafter referred to as the CWCB or STATE, and The Excelsior Irrigating Company, hereinafter referred to as the Co-vTRACroR. Factual Recitals A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Appropriation Code L97, Contract Encumbrance Number C153797. B. Required approval, clearance, and coordination have been accomplished from and with appropriate agencies. C. Th@ STATE aC1CI tfl2 CONTRACTOR entered into a contract February 11, 1998, Contract Encumbrance Number C153797, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein by reference, wherein the STaTE agreed to loan money in the total amount of $230,000, and the CorvTRACTOR agreed to repay the loan in accordance with the terms of the ORiGirva~ CoNTRacT. D. The CoNTRacTOR requested an additional $21,125 for rehabilitation of the Excelsior Ditch, hereinafter referred to as the PRO~ECr. The total cost of the PRO~ECT is estimated to be $335,000. The increase in the loan amount from $230,000 to $251,125 would provide the CONTRACTOR Wlth fUflCllflg fCOf11 th@ STATE C10t t0 eXCe2d 75% Of th@ tOtal PROJECT COStS. E. At its January 26-27, 2000 meeting, the CWCB approved increasing this loan by $21,125, for a total loan amount of up to $251,125, which may be used to finance up to 75% of the total PRO~ECT cost. The terms for the $21,125 loan amount is an interest rate of 4.00% per annum and a repayment period of thirty years. F. Pursuant to HB00-1419, Section 2, the Colorado General Assembly authorized the CWCB to loan to the CONTRACTOR 1f1 additional amount not to exceed $21,125, hereinafter referred to as the AuTHORizEO LoaN AMOUrvr, from the Construction Fund for financing PROJECT COStS. G. The STATE and the CONTRACTOR have agreed to amend this contract to increase the amount of the loan by $21,125, for a total loan amount of up to $251,125, which may be used to finance up to 75% of the total PRO~ECr cost. H. In accordance with the CWCB's approval, C. R. Evans is personally responsible for providing collateral for the loan, but has no personal liability for repayment of the loan. The Excelsior Irrigating Company Page 1 of 3 Contract Amendment No. 1