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2. This contract amendment No. 1 is a supplement to the <br />Original Contract, Attachment A. which is by this reference <br />incorporated and made a part hereof; and all the terms, <br />conditions, and provisions thereof, unless specifically <br />modified herein, are to apply to this contract amendment as <br />though they were expressly rewritten, incorporated and included <br />herein. <br />3. Paragraphs A.2., A.11., C.1., and 1. are hereby amended <br />to read as follows: <br />A.2. Contract for the construction of said project to <br />a responsible and capable firm or firms (hereinafter <br />referred to as Construction Firm or Firms), which <br />Construction Firms shall, when required by the State, <br />be selected through competitive public bidding, said <br />project to be completed on or before July 31, 1991, in <br />accordance with the project plans and specifications <br />and any necessary modifications ereof approved by the <br />State. The State must approve wri ing, all <br />contracts before they can bec.0 fe 'v . The <br />above - specified time may be t`lde y+ I a State if <br />such time is insufficient se s of God or <br />other acts or circumstance '-,p byo 4_1 control of the <br />Contractor. <br />A.11. Repay to the State t'tal project loan <br />principal for the design, a „ onstruction of this <br />project, in the amount of One`Million Seventy -Three <br />Thousand Three Hundred Sixty Dollars ($1,073,360), <br />together with the amount of Twenty -Six Thousand Six <br />Hundred Forty Dollars ($26,640) previously advanced by <br />the State for the feasibility study of Comanche Dam, <br />for a total principal repayment cost not to exceed One <br />Million One Hundred Thousand Dollars ($1,100,000), plus <br />accumulated interest calculated using accepted <br />accounting principles at a rate of five percent (5 %) <br />per annum, said repayment to be made in constant annual <br />installments. <br />a. For the total principal repayment cost of One <br />Million One Hundred Thousand Dollars ($1,100,000), <br />the annual payment of principal and interest shall <br />be Seventy -Eight Thousand Forty -Five Dollars <br />($78,045) each, for Twenty -Five (25) years, as <br />shown in Attachment B. attached hereto and <br />incorporated by reference herein, which first <br />installment shall be due and payable the first day <br />of the month next succeeding the month in which <br />the State determines that the project has been <br />substantially completed, and yearly thereafter <br />until the entire principal. sum shall have been <br />paid. However, in the event the Contractor does <br />not draw funds commencing on the date specified in <br />paragraph C.l.a. below, the obligation to repay <br />shall be postponed for the same number of months <br />as the Contractor delays in drawing funds. Said <br />installment payments shall be made payable to the <br />Colorado Water Conservation Board, payable at the <br />offices of said Board in Denver, Colorado. The <br />Contractor pledges its full faith and credit in <br />support of this obligation and warrants rt at it <br />has taken all steps necessary to pledge s f ull <br />faith and credit for this obligation. <br />C.1. The State agrees that it shall: <br />1. Loan to the Contractor for the purpose of this <br />contract an amount not to exceed One Million <br />Seventy -Three Thousand Three Hundred Sixty Dollars <br />Page 2 of 5 Pages <br />