C150311 Contract

• Contract/PO #: C150311
• Contractor Name: Grand River Ditch Company
• Contract Type: Loan
• Water District: 39
• County: Garfield
• Loan Projects - Doc Type: Contract Documents

BORROWER: GRAND RIVER DITCH
COMPANY
Contract No. C150311
Original Loan Amount: $518,130.00
Adjustment (Decrease): $426,156.77
Adjusted Loan Amount: $91,973.23
Agency Name: Water Conservation Board
Agency Number PDA
CMS Number: -'elff
LOAN CONTRACT AMENDMENT NO.1
(STANDARD CONTRACT — WAIVER #160 — APPROVED NOVEMBER 10, 2003)
This Amendment, made this July 23, 2012, by and between the State of Colorado
for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ( "CWCB "), and the Grand River Ditch Company, a Colorado
nonprofit corporation(" 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 C150311.
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
C150311, dated September 17, 2010, ( "ORIGINAL CONTRACT "), incorporated herein by
reference, wherein the CWCB agreed to loan money in the total amount up to
$518,130, and the BORROWER agreed to repay the loan in accordance with the terms
of the ORIGINAL CONTRACT.
D. The Project was substantially complete as of July 1, 2011.
E. Of the $518,130 loan amount available, only $360,301.23 was disbursed to the
BORROWER for the PROJECT.
F. The CWCB received payments of $25,000.00 and $243,328.00 from the BORROWER
on June 20, 2011 and September 14, 2011, respectively. Said payments were
applied to principal reduction, leaving a final loan amount of $91,973.23.
G. The parties agree to amend the contract to reduce the final loan amount to
$91,973.23.
NOW THEREFORE, it is hereby agreed that
1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments
that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the
promises and agreements herein set forth.
2. It is expressly agreed by the parties that this Amendment is supplemental to the
Loan Contract C150311 Amendment No. 1
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