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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br />DEBTOR: ARKANSAS GROUNDWATER USERS <br />ASSOCIATION <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br />DATE OF ORIGINAL SECURITY AGREEMENT: NOVEMBER 1, 2003 <br />Original Promissory Note: <br />ORIGINAL LOAN CONTRACT: <br />1 <br />2 <br />$970,448, dated November 1, 2003, <br />interest at the rate of 2.5% per annum <br />with annual payment for a period of 30 <br />years or until paid in full. <br />C150'156 DATED NOVEMBER 1, 2003 <br />The Parties have amended the ORi�inu�� LoAN CoNrRacT and Promissory Note <br />to decrease the loan amount from $970,448 to $950,632.97 and hereby amend <br />the original Security Agreement to document the change of loan amount. <br />The Parties expressly agree that this Amendment is supplemental to the <br />Security Agreement and all terms, conditions, and provisions thereof, unless <br />specifically rnodified below, are to apply to this Amendment as though they <br />were expressly rewritten, incorporated, and included herein. <br />Amended Loan Contract: C150156, dated January 1, 2010 <br />Replacement Promissory Note: $950,632.97, dated January 1, 2010, <br />interest at the rate of 2.5% per annum <br />with �nnual payments for a period of 30 <br />years or until paid in full <br />Date of Amended Security Agreement: <br />SEAL <br />January 1, 2010 <br />DEBTOR: Arkansas Groundwater Users <br />Association <br />� <br />By <br />Scott Brazi , President <br />ATTEST: � <br />; <br />By- - �� �---- <br />John Sliman, Secretary <br />Appendix B to Loan Contract C150156 Amendment No. 2 <br />