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CONTRACT AMENDMENT <br /> Amendment#1 Original Contract#C150363 Amendment CMS #70428 <br /> CMS #62339 <br /> 1) PARTIES <br /> This Amendment No. 1 (AMENDMENT) to the above-referenced ORIGINAL LOAN CONTRACT (hereinafter <br /> called the ORIGINAL CONTRACT) is entered into by and between, Petrocco Family Limited Partnership, <br /> LLLP, 14110 Brighton Road, Brighton, Colorado, 80601, a limited liability limited partnership <br /> ("BORROWER")and the STATE OF COLORADO (hereinafter called the "STATE") acting by and through <br /> the Department of Natural Resources, Colorado Water Conservation Board, (hereinafter called <br /> "CWCB"). <br /> 2) EFFECTIVE DATE AND ENFORCEABILITY <br /> This AMENDMENT shall not be effective or enforceable until it is approved and signed by the Colorado <br /> State Controller or designee (hereinafter called the"EFFECTIVE DATE"), but shall be effective and <br /> enforceable thereafter in accordance with its provisions. <br /> 3) FACTUAL RECITALS <br /> The Petrocco Family Limited Partnership was approved for a loan from CWCB, on September 25, <br /> 2013, for the purchase of water rights. This change in stock certificates was based upon the <br /> availability of water rights. <br /> 4) CONSIDERATION-COLORADO SPECIAL PROVISIONS <br /> Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be <br /> made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein <br /> set forth. <br /> The Parties acknowledge that the mutual promises and covenants contained herein and other good <br /> and valuable consideration are sufficient and adequate to support this AMENDMENT. <br /> 5) LIMITS OF EFFECT <br /> This Amendment is incorporated by reference into the ORIGINAL CONTRACT. The ORIGINAL CONTRACT <br /> and all prior amendments thereto, if any, remain in full force and effect except as specifically modified <br /> herein. <br /> 6) MODIFICATIONS. <br /> The ORIGINAL CONTRACT No. C150363 and all prior amendments thereto, if any, are modified as <br /> follows: <br /> a. Amend this contract to change the stock certificates pledged as COLLATERAL for this LOAN <br /> CONTRACT. <br /> b. The BORROWER agrees that it shall execute the following documents, all of which shall set forth the <br /> loan revisions: <br /> I. PROJECT SUMMARY, APPENDIX A, AMENDMENT NO. 1 TO LOAN CONTRACT NO. <br /> C150363. attached hereto as APPENDIX A and incorporated herein, which shall <br /> replace and supersede the original Project Summary attached to the ORIGINAL <br /> CONTRACT as APPENDIX 1. <br /> II. SECURITY AGREEMENT, APPENDIX B, AMENDMENT NO. 1 TO LOAN CONTRACT NO. <br /> C150363, attached hereto as APPENDIX B and incorporated herein, which shall <br /> replace and supersede the original Security Agreement dated October 28, 2013 <br /> attached to the Original Contract as Appendix 4. <br /> Amendment No 1 to Loan Contract C150363 <br /> Page 1 of 3 <br />