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CONTRACT AMENDMENT <br />Amendment Original Loan Contract CMS# 44046 Amendment CMS Number <br />No.2 Amendment No. 1 CMS# 50183 (to be filled in by CWCB) <br />Contract #C150324 #58361 <br />1) PARTIES <br />This Amendment No.2 (AMENDMENT) to the above - referenced ORIGINAL LOAN CONTRACT (hereinafter <br />called the ORIGINAL CONTRACT) is entered into by and between the Tri- County Water Conservancy <br />District, acting by and through its Water Activity Enterprise, 647 N. 7th Street, Montrose, Colorado <br />81404, (hereinafter called "BORROWER" or "DISTRICT "), and the STATE OF COLORADO (hereinafter <br />called the "STATE ") acting by and through the Department of Natural Resources, Colorado Water <br />Conservation Board, (hereinafter called "CWCB "). <br />2) EFFECTIVE DATE AND ENFORCEABILITY <br />This AMENDMENT shall not be effective or enforceable until it is approved and signed by the <br />Colorado State Controller or designee (hereinafter called the "EFFECTIVE DATE "), but shall be <br />effective and enforceable thereafter in accordance with its provisions. <br />3) FACTUAL RECITALS <br />The Tri- County Water Conservancy District, acting by and through its Water Enterprise requested an <br />increase to its existing CWCB LOAN CONTRACT NUMBER C150324 for the Tri- County Hydropower <br />Project (PROJECT). The Project is the construction of an 8- megawatt (MW) hydroelectric generating <br />facility at the existing outlet works of Ridgway Dam. The requested increase in loan amount is due to <br />the withdrawal of an application, by the BORROWER, for additional funding through the Governor's <br />Energy Office. This request increases the existing CWCB loan amount from $9,090,000 to <br />$13,130,000. Authority exists in the law, and funds have been budgeted, appropriated and otherwise <br />made available per the 2013 CWCB Project Bill SB13 -181. At its January 28, 2013 meeting, the <br />CWCB approved increasing this loan by $4,040,000. <br />The BORROWER has successfully completed Conditions #1 through #5 of the ORIGINAL CONTRACT, <br />(See ORIGINAL CONTRACT, APPENDIX 1, PROJECT SUMMARY, SECTION 6, ADDITIONAL CONDITIONS & <br />CONTRACT REQUIREMENTS). <br />4) CONSIDERATION <br />Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be <br />made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein <br />set forth. <br />5) LIMITS OF EFFECT <br />This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL <br />CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as <br />specifically modified herein. <br />6) MODIFICATIONS. <br />The ORIGINAL CONTRACT No. C150324 and all prior amendments thereto, if any, are modified as <br />follows: <br />a) Amend this contract to increase the total loan amount by $4,040,000 increasing the LOAN <br />CONTRACT total amount from $9,090,000 to $13,130,000. The terms for the additional loan <br />amount are an interest rate of 2.00% per annum and a repayment period of 30 years. A loan <br />service fee of 1% shall be imposed on the additional loan amount In accordance with CWCB <br />Policy Number 16. <br />Amendment No. 2 to Loan Contract C150324 <br />Page 1 of 3 <br />Effective Date: 116109 <br />