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$469,813.04, and to secure this loan with a pledge of revenues backed by a rate <br />covenant and annual statement of debt coverage. <br />NOW THEREFORE, it is hereby agreed that <br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the <br />payments that shall be made pursuant to this Amendment and ORIGINAL CONTRACT <br />and the 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 documents, all of which <br />shall set forth the revised loan amount, as of June 1, 1997, of $469,813.04: <br />a. Promissory Note attached as Appendix 1 and incorporated herein, which shall <br />replace and supersede the Promissory Note provisions (Paragraph A.9) in the <br />ORIGINAL CONTRACT. <br />b. Security Agreement Amendment <br />incorporated herein, which shall s <br />Security Agreement dated Oct <br />CONTRACT as Appendix B. <br />4. The parties agree that the ORIGI JM <br />and changed in the following res <br />a. Paragraph A.11, Pledge of rei <br />following two paragraphs to add <br />debt coverage provisions: .A <br />No. 1, attached hereto as Appendix 2 and <br />Ipp ent and operate in conjunction with the <br />o. 196. attached to the ORIGINAL <br />shall be modified, altered, <br />amended by the addition of the <br />covenant and annual statement of <br />A.11.e. Rate Covenant. Pursufo its statutory authority and as permitted <br />by law, the BORROWER shall take all necessary actions consistent therewith <br />during the term of this contract to establish, levy and collect rates, charges and <br />fees as described in Appendix 3, in amounts sufficient to pay this loan as <br />required by the terms of this contract and the Promissory Note, to cover all <br />expenditures for operation and maintenance and emergency repair services, <br />and to maintain adequate debt service reserves, including obtaining voter <br />approval, if necessary, of increases in the BORROWER'S rate schedule or <br />taxes, if applicable. <br />A.11.f. Annual Statement of Debt Coverage. Each year during the term of <br />this contract, the BORROWER shall submit to the CWCB an annual audit report <br />and a certificate of debt service coverage from a Certified Public Accountant. <br />b. Paragraph A.12, Collateral, is revised by the addition of the following <br />paragraph <br />A.12 a. In accordance with CWCB Policy No. 5, the CWCB hereby agrees to <br />collateral consisting of a pledge of revenues (established in the ORIGINAL <br />CONTRACT under Paragraph A.11), and backed by rate covenant and annual <br />statement of debt coverage. <br />Page 2 of 5 <br />