C150149 contract docs

• Contract/PO #: C150149
• Contractor Name: Silt Water Conservancy District
• Contract Type: Loan
• Water District: 39
• County: Garfield
• Loan Projects - Doc Type: Contract Documents

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NOW THEREFORE, it is hereby agreed that
1. Consideration for this Amendment to the ORi�iNA� CoNTFta,cT consists of the payments
that shall be made pursuant to this Amendment and the ORi�iNA� CotvTt�cT, and the
promises and agreements herein set forth.
2. It is expressly agreed by the parties that this Amendment is supplemental to the
ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless
specifically modified herein, are to apply to this Amendment as though they were
expressly rewritten, incorporated, and included herein.
3. The CWCB agrees that it shall loan the BoRROwER an additional loan amount of
$485,103 including the 1% loan service fee for a loan amount of $1,515,000 to
finance up to 90% Of PPOJeCt COStS (ADDITIONAL LOAN AMOUNT�. The terms for the
ADDITIONAL LOAN AMOUNT a�e an IC1tet'eSt �ate Of 2.5% per annum for a term of 30
years. The BoRROwER hereby agrees to repay the loan in accordance with the terms
of the ORi�iNn� CoNTw�cT as herein amended and the attached Promissory Note.
4. The BORROWER haS adopted a resolution, irrepealable for the term of this loan,
authorizing the BoRROwER to enter into this contract amendment to borrow the
ADDITIONAL LOAN AMOUNT, to establish and collect assessments sufficient to pay the
annual loan payments, to pledge said assessments for repayment of the loan, and to
execute documents necessary to convey a security interest in said assessments and
collateral, if necessary, to the CWCB. Said resolution is attached as Appendix A.
5. Prior to the execution of this Amendment by the CWCB, the BoRROwER shall submit
to the CWCB a letter from its attorney stating that it is the attorney's opinion that (1)
the person(s) signing for the BoRROwER was duly elected or appointed and has
authority to sign such documents on behalf of the BORROWER and to bind the
BORROWER; (2� th@ BORROWER's governing body has validly adopted a resolution
approving this Amendment; (3) there are no provisions in the any state or local law
that prevent this Arnendmer�t from binding the BoRROwER; and (4) this Amendment
will be valid and binding against the BoRROwER if entered into by the CWCB.
6. The BoRROwER agrees that it shall execute the following documents, all of which shall
set forth the loan amount of $1,515,000 which includes the 1% loan service fee:
a. Promissory Note, attached as Appendix B and incorporated herein, which
shall replace and supersede the Promissory Note in the amount of
S 1,029,897 dated November 1, 2003, attached to the ORIGINAL CONTRACT as
Appendix 2.
b. Amended Security Agreement, attached hereto as Appendix C and incorporated
herein, which shall supplement and operate in conjunction with the Security
Agreement dated November 1, 2008, attached to the ORIGINAL CONTRACT aS
Appendix 4.
7. The parties agree that the ORIGINAL CONTRACT, is and shall be modified, altered,
and changed in the following respects only:
a. Section 10 of Appendix 1, Time for Performance, is revised to read as follows:
PROJECT FItIISh: 7 years from the Effective Date of this Contract.
8. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency,
variance, or contradiction between the provisions of this Amendment and any of the
pfOVISIOfIS Of th2 ORIGINAL CONTRACT, the provisions of this Amendment shall in all
respects supersede, govem, and control. The SPECIAL PROVISIONS shall always be
controlling over other provisions in the contract or amendments. The representations
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