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Except for FEMA grant funds, any future grant funds obtained for the purpose of this Project
<br /> shall be submitted to CWCB to be applied to the balance of the loan within thirty(30) calendar
<br /> days after receipt of said funds. Non-rescinded FEMA grant funds shall be applied to the
<br /> balance of the loan within thirty(30) calendar days after FEMA Project Closeout, as long as
<br /> the borrower deposits received FEMA grant funds in a secured account prior to Project
<br /> Closeout. FEMA grant funds shall only be used for the repayment of rescinded grant funds, or
<br /> to pay down the loan principal.
<br /> d) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
<br /> the revised loan amount of$876,680: •
<br /> I. AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT No. 1, LOAN CONTRACT
<br /> No. CT2015-024, in the amount of $876,680 and incorporated herein, which shall replace
<br /> and supersede the original PROMISSORY NOTE dated OCTOBER 21, 2013, in the amount of
<br /> $481,770, and attached to the ORIGINAL CONTRACT as APPENDIX 2.
<br /> II. AMENDMENT TO THE SECURITY AGREEMENT, Appendix B AMENDMENT NO. 1, LOAN
<br /> CONTRACT No. CT2015-024, in the amount of $876,680 and incorporated herein, which
<br /> shall supplement and operate in conjunction with the SECURITY AGREEMENT, dated October
<br /> 21, 2013, and attached to the ORIGINAL CONTRACT as APPENDIX 4.
<br /> III. AMENDMENT TO DEED OF TRUST, APPENDIX C, AMENDMENT No. 1, LOAN CONTRACT NO.
<br /> CT2015-024, in the amount of $876,680 and incorporated herein, which shall supplement
<br /> and operate in conjunction with the DEED OF TRUST, dated October 21, 2013, and attached
<br /> to the ORIGINAL CONTRACT as APPENDIX 5. The AMENDMENT TO DEED OF TRUST shall be
<br /> recorded with the Larimer County Clerk and Recorder.
<br /> IV. The BORROWER has adopted a resolution, irrepealable for the term of this loan, authorizing
<br /> the BORROWER to enter into this contract amendment to borrow the ADDITIONAL LOAN •
<br /> AMOUNT, to establish and collect assessments sufficient to pay the annual loan payments,
<br /> to pledge said assessments for repayment of the loan, and to execute documents
<br /> necessary to convey a security interest in said assessments and collateral, if necessary, to
<br /> the CWCB. Said resolution is attached as APPENDIX D.
<br /> V. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit to
<br /> the CWCB a letter from its attorney stating that it is the attorney's opinion that (1) the
<br /> person(s) signing for the BORROWER was duly elected or appointed and has authority to
<br /> sign such documents on behalf of the BORROWER and to bind the BORROWER; (2) the
<br /> BORROWER'S governing body has validly adopted a resolution approving this Amendment;
<br /> (3) there are no provisions in the any state or local law that prevent this Amendment from
<br /> binding the BORROWER; and (4) this Amendment will be valid and binding against the
<br /> BORROWER if entered into by the CWCB.
<br /> 7) ORDER OF PRECEDENCE
<br /> Except for the Special Provisions, in the event of any conflict, inconsistency, variance, or contradiction
<br /> between the provisions of this AMENDMENT and any of the provisions of the ORIGINAL CONTRACT, the
<br /> provisions of this AMENDMENT shall in all respects supersede, govern, and control. The most recent
<br /> version of the Special Provisions incorporated into the ORIGINAL CONTRACT or any amendment shall
<br /> always control other provisions in the ORIGINAL CONTRACT or any amendments.
<br /> 8) AVAILABLE FUNDS
<br /> Financial obligations of the state payable after the current fiscal year are contingent upon funds for
<br /> that purpose being appropriated, budgeted, or otherwise made available.
<br /> Amendment No. 1
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