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

BORROWER: SILT WATER CONSERVANCY
DISTRICT ACTING BY AND THROUGH ITS
WATER ACTIVITY ENTERPRISE
Contract No. C 150149
Original Loan Amount $1,029,897
Adjustment (Increase): $485,103
Adjusted Loan Amount $1,515,000
Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 09 PDA D��i%7
LOAN CONTRACT AMENDMENT NO. 1
(STANDARD CONTRACT — WAIVER #160 — APPROVED NOVEMBER 1 O, 2003)
This Amendment, made this January 15, 2008, by and befinreen the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Board ("CWCB"), and Silt Water Consenrancy District acting by and
through its Water Activity Enterprise ("BORROWER" or "CONTRACTOR").
FACTUAL RECITALS
A. Authority exists in the law, and funds have been budgeted, appropriated, and
otherwise made available for payment in Contract Encumbrance Number C150149.
B. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies.
C. The CWCB and the BORROWER entered into Contract Encumbrance Number
C150149, dated November 1, 2003, ("ORIGINAL CONTRACi'), incorporated herein by
reference, wherein the CWCB agreed to loan money in the total amount up to
$1,029,897, and the BoRROwER agreed to repay the loan in accordance with the
teftllS Of th@ ORIGINAL CONTRACT.
D. ��ring construction of the Project, the BORROWER encountered unforeseen site
conditions, design modifications, and a need for additional work not anticipated in
the original project cost estimate. These items increased the cost of the PRO�ECT by
$536,890. To meet the increased costs, the BoRROwER requested an additional
$485,103 for a total loan amount of $1,515,000.
E. At its Novernber 2008 meeting, the CWCB approved increasing this loan by $485,103
for a total loan amount of up to $1,515,000 to finance up to 90% of the total Project
costs. The terms for the additional loan amount are an interest rate of 2.5% per
annum and a repayment period of 30 years. A loan service fee of 1% shall be
imposed on the additional loan amount In accordance with CWCB Policy No. 16.
F. The CWCB and the BoRROw�R have agreed to amend this contract to increase the
amount of the loan by $485,103 including the 1% loan service fee for a total loan
amount of up to $1,515,000 which may be used to finance up to 90% of the total
Project cost.
G. Furthermore, thE BoRROwER has requested an extension in the time the CWCB has
allowed for completion of the Project.
H. Th6 CWCB haS f@VIQW@� �h8 BORROWER's request and has agreed to amend this
contract to extend the time for completion of the project for an additional 2 years.
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