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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br />DEBTOR: DEUEL AND SNYDER IMPROVEMENT COMPANY <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br />DATE OF ORIGINAL SECURITY AGREEMENT: MAY 18, 2009 <br />Original Promissory Note: $90,900, dated May 18, 2009, Interest at the <br />rate of 2.50% per annum with annual payment <br />for a period of 30 years or until paid in full. <br />ORIGINAL LOAN CONTRACT: C150288, DATED MAY 18, 2009 <br />7. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note to <br />increase the loan amount from $90,900 to $109,053, and hereby amend the original <br />Security Agreement to document the change of loan amount. <br />8. The Parties expressly agree that this Amendment is supplemental to the Security <br />Agreement and all terms, conditions, and provisions thereof, unless specifically <br />modified below, are to apply to this Amendment as though they were expressly <br />rewritten, incorporated, and included herein. <br />Amended Loan Contract: C150288, dated February 14, 2012 <br />Replacement Promissory Note: $109,053, dated February 14, 2012, interest at <br />the rate of 2.50% per annum with annual <br />payments for a period of 30 years or until paid in <br />full <br />Date of Amended Security Agreement: February 14, 2012 <br />DEBTOR: Deuel and Snyder Improvement <br />Company <br />SEAL By ��i/ // / / <br />Brad Kembel, President <br />ATTEST: " <br />By Irma Baumbl r, Secretary <br />Appendix B to Loan Contract C15272 <br />