C150323 Contract

• Contract/PO #: C150323
• Contractor Name: Jackson Ditch Company, The
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

AMENDMENT NO.1 PROMISSORY NOTE
Date: March 22, 2013
Borrower:
Principal Amount:
Interest Rate:
Term of Repayment:
Loan Contract No.:
Loan Payment:
Payment Initiation Date *:
Maturity Date *:
The Jackson Ditch Company
$ 112,958.24
3.60% per annum
30 years
C150323, dated March 13, 2012
$ 6,218.88
July 1, 2012
July 1, 2042
* Payment Initiation Date and Maturity Date fields are filled in after the project has been
substantially completed.
1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water
Conservation Board ( "CWCB "), the Principal Amount plus Interest for the Term of
Repayment, pursuant to the LOAN CONTRACT and this promissory note.
2. This Promissory Note replaces and supersedes the Promissory Note dated February
9, 2012, in the principal amount of $124,533.
3. Principal and interest shall be payable in equal Loan Payments, with the first payment
due and payable on July 1, 2013, and annually thereafter. All principal, interest, and
late charges, if any, then remaining unpaid shall be due and payable on or before the
Maturity Date.
4. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman
Street, Room 721, Denver, Colorado 80203.
5. The CWCB may impose a late charge in the amount of 5% of the annual payment if
the CWCB does not receive the annual payment within 15 calendar days of the due
date.
6. This Note may be prepaid in whole or in part at any time without premium or penalty.
Any partial prepayment shall not postpone the due date of any subsequent payments
or change the amount of such payments.
7. All payments received shall be applied first to late charges, if any, next to accrued
interest and then to reduce the principal amount.
8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the
Appendix A to Amendment No. 1
Loan Contract C150323
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