|
�
<br />BORROWER: RAYMOND DAIRY, INC. Agency Name: Water Conservation Board
<br />Contract No. C150300 Agency Number PDA
<br />Original Loan Amount: $95,950 � �n S�� 3,� r��
<br />Adjustment (Decrease): $36,845
<br />Adjusted Loan Amount: $59,105
<br />LOAN CONTRACT AMENDMENT NO. 1
<br />(STANDARD CONTRACT — WAIVER #160 — APPROVED NOVEMBER 1 O, 2003)
<br />This Amendment, made this May 9, 2011, by and befinreen the State of Colorado
<br />for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board ("CWCB"), and the Raymond Dairy, Inc., 1412 M 3/ Road, Loma, CO
<br />81524, a Colorado nonprofit corporation ("BORROWER" or "CONTRACTOR").
<br />FACTUAL RECITALS
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
<br />made available for payment in Contract Encumbrance Number C150300.
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />C. The CWCB and the BoRROwER entered into Contract Encumbrance Number C150300,
<br />dated October 28, 2009 ("ORIGINAL CONTRACT"), incorporated herein by reference,
<br />wherein the CWCB agreed to loan money in the total amount up to $95,950, and the
<br />BoRROwER agreed to repay the loan in accordance with the terms of the ORi�iNa�
<br />CONTRACT.
<br />D. The project financed with the loan proceeds was substantially complete �as of February
<br />1, 2011, and of the $95,950 loan amount available, the BoRROwER used only $61,105.
<br />E. In addition, BoRROwER made a principal pre-payment in the amount of $2,000, leaving
<br />a loan amount of $59,105.
<br />F. The parties agree to amend the contract to reduce the �nal loan amount to $59,105.
<br />NOW THEREFORE, it is hereby agreed that
<br />1. Consideration for this Amendment to the ORi�iNA� CoNTRacT consists of the payments
<br />that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the
<br />promises and agreements herein set forth.
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the
<br />ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless
<br />specifically modified herein, are to apply to this Amendment as though they were
<br />expressly rewritten, incorporated, and included herein.
<br />3. The BoRROwER agrees that it shall execute the following document, all of which shall
<br />set forth the revised loan amount of $59,105:
<br />a. Promissory Note, attached as Appendix A and incorporated herein, which shall
<br />Loan Contract C150300 Amendment No. 1
<br />Page 1 of 5
<br />l;
<br />
|