C150380 Contract

• Contract/PO #: CT2015-020
• Contract/PO #: C150380
• Contractor Name: Consolidated Home Supply Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment Original Loan Contract No. C150380 Amendment No.1
No.1 CMS No.62705 CMS No. 71713
CORE 2015-20 CORE 2015-20
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 Consolidated Home Supply Ditch
and Reservoir Company, do Northern Colorado Water Conservancy District, 220 Water Ave.
Berthoud, Colorado, 80513, (hereinafter called "BORROWER") 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 Consolidated Home Supply Ditch and Reservoir Company submitted, in writing to CWCB, a
request for an increase to the loan contract total amount of its existing CWCB LOAN CONTRACT
NUMBER C150380 for the Emergency George Rist Ditch Repair(PROJECT). The purpose of the
Project is to repair damages to the diversion structure and ditch caused by the 2013 flood event. The
requested increase in loan contract total amount is due to repairs that were identified after
construction began and subsequent ditch operation. This request increases the existing CWCB loan
contract total amount from $448,440 to $519,140. At its July 17, 2014 meeting, the CWCB found that
the Borrower had encountered unexpected repairs and approved a loan contract increase of$70,000
for project costs and $700 for the 1% service loan fee with a total loan increase of$70,700.
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. C150380 and all prior amendments thereto, if any, are modified as
follows:
a) Amend this contract to increase the loan contract total amount by $70,700 increasing the Loan
Contract total amount from $448,440 to $519,140. The terms for the additional loan amount are
the same as the original contract; no payments for the first three years followed by 27 years of
amortized payments. The interest is zero interest for the first three years, followed by 1.95% for
the remaining 27 years.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan contract total amount of$519,140:
Amendment No. 1 to Loan Contract C150380
Page 1 of 3