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CONTRACT AMENDMENT NO. 1 This Amendment, made this 1" day of October 1999, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board, hereinafter referred to as the CWCB or STATE, and the TOWN OF JOHNSTOWN, ( "TOWN') and the TOWN OF JOHNSTOWN WATER ACTIVITY ENTERPRISE, P.O. Box 609, Johnstown, Colorado 80534, hereinafter referred to as the CONTRACTOR. Factual Recitals A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and a suffi ' Mrance ered balance thereof remains available for payment in Fund Numbe ti YYYY, Appropriation 512, Program WTRC, Object Code 5120, C , Number C1 53719A. B. Required approval, clearance, a i e e accomplished from and with appropriate agencies. C. The STATE and the CONTRACTOR entered into a contract dated November 7, 1996, Contract Encumbrance Number C153719, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein by reference, wherein the STATE agreed to loan money in the total amount up to $2,542,500, and the CONTRACTOR agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT. D. The Contractor borrowed only $1,948,932.60 out of the $2,542,500 authorization. E. The Project was substantially complete as of June 30, 1999. F. The parties agree to amend the contract to reflect the actual loan amount and the annual payment due date. NOW THEREFORE, it is hereby agreed that 1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements herein set forth. 2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless Page 1 of 3 Amendment No. 1