C150337 Contract

• Contract/PO #: CT2015-060
• Contract/PO #: C150337
• Contractor Name: Well Augmentation System of the Central Colorado Water Conservancy District
• Contract Type: Loan
• County: Weld
• County: Adams
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment No.1
Original Loa_ n Contract
CMS 53652
Contract #C150337
Amendment CMS Number
(to be filled in by CWCB)
#56911
1) PARTIES
This Amendment No. 1 (AMENDMENT) to the above - referenced ORIGINAL LOAN CONTRACT (hereinafter
called the ORIGINAL CONTRACT) is entered into by and between the Well Augmentation Subdistrict of
the Central Colorado Water Conservancy District, 3209 W. 28th St., Greeley, Colorado 80634 -7554
(hereinafter called "BORROWER" or "COMPANY "), and the STATE OF COLORADO (hereinafter called
the "STATE ") acting by and through the Department of Natural Resources, Colorado Water
Conservation Board, (hereinafter called "CWCB ").
2) EFFECTIVE DATE AND ENFORCEABILITY
This AMENDMENT shall not be effective or enforceable until it is approved and signed by the
Colorado State Controller or designee (hereinafter called the "EFFECTIVE DATE "), but shall be
effective and enforceable thereafter in accordance with its provisions.
3) FACTUAL RECITALS
The Well Augmentation Subdistrict of the Central Colorado Water Conservancy District was approved
for a loan, from the CWCB, totaling $3,030,000 on March 22, 2013 to finance the "Water Rights and
Gravel Pit Storage Project (PROJECT). The BORROWER agreed in the ORIGINAL CONTRACT, to convey
as COLLATERAL, an undivided one hundred percent (100 %) interest in all WATER RIGHTS purchased
with CWCB LOAN CONTRACT No. C150337 funds.
4) CONSIDERATION
Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be
made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein
set forth.
The Parties acknowledge that the mutual promises and covenants contained herein and other good
and valuable consideration are sufficient and adequate to support this AMENDMENT.
5) LIMITS OF EFFECT
This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL
CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as
specifically modified herein.
6) MODIFICATIONS.
The ORIGINAL CONTRACT No. C150337 and all prior amendments thereto, if any, are modified as
follows:
a) BORROWER agrees to convey, as COLLATERAL, an undivided one hundred percent (100 %)
interest in eighty (80) shares of the capital stock of the Lupton Meadows Ditch Company. The
Lupton Meadows WATER RIGHTS are diverted and delivered to the Sarchet Farm via both the
Lupton Bottoms, forty (40) shares and Meadow Island #1 Ditch Companies, forty (40) shares.
The Lupton Meadows Ditch Company WATER RIGHTS purchase is funded by CWCB LOAN
CONTRACT No. C150337.
b) BORROWER shall have the stock certificate(s) for the shares issued in both the Borrower's and
the CWCB's name. CWCB's name shall appear as "Mortgagee" on the stock certificate(s).
c) BORROWER shall not sell, convey, assign, grant, transfer, mortgage, pledge, encumber, or
otherwise dispose of the COLLATERAL or the PLEDGED PROPERTY so long as any of the
principal, accrued interest, and late charges, if any, on this loan remain unpaid, without the
Amendment No. 1 to Loan Contract C150337
Page 1 of 3
Effective Date: 1/6/09