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I. AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A. AMENDMENT No. 1. LOAN CONTRACT <br /> No.CT2016-022, in the amount of$3,745,080 and incorporated herein, which shall replace <br /> and supersede the original PROMISSORY NOTE dated October 23, 2013, in the amount of <br /> $3,154,230 and attached to the ORIGINAL CONTRACT(C150362)as APPENDIX 2. <br /> II. AMENDMENT TO THE SECURITY AGREEMENT. Appendix B AMENDMENT NO. 1. LOAN <br /> CONTRACT No. CT2016-022, in the amount of $3,745,080 and incorporated herein, which <br /> shall supplement and operate in conjunction with the SECURITY AGREEMENT, dated October <br /> 23, 2013, in the amount of $3,154,230, and attached to the ORIGINAL CONTRACT(C150362) <br /> as APPENDIX 4. <br /> III. AMENDMENT TO DEED OF TRUST, APPENDIX Cl. AMENDMENT NO. 11 LOAN CONTRACT No. <br /> CT2016-022, in the amount of$3,745,080 and incorporated herein, which shall supplement <br /> and operate in conjunction with the DEED OF TRUST,for GREELEY AND LOVELAND IRRIGATION <br /> COMPANY, dated October 23, 2013, in the amount of $3,154,230, and attached to the <br /> ORIGINAL CONTRACT (C150362) as APPENDIX 5a. The AMENDMENT TO DEED OF TRUST shall <br /> be recorded with the Larimer County Clerk and Recorder. <br /> IV. AMENDMENT TO DEED OF TRUST, APPENDIX C2, AMENDMENT No. 1. LOAN CONTRACT No. <br /> C12016-022, in the amount of$3,745,080 and incorporated herein, which shall supplement <br /> and operate in conjunction with the DEED OF TRUST, for THE SEVEN LAKES RESERVOIR <br /> COMPANY, dated October 23, 2013, in the amount of $3,154,230, and attached to the <br /> ORIGINAL CONTRACT (C150362) as APPENDIX 5b. The AMENDMENT TO DEED OF TRUST shall <br /> be recorded with the Larimer County Clerk and Recorder. <br /> V. OPTION LETTER <br /> The following Option Letter language shall be an addendum to the Promissory Note <br /> Provisions, Paragraph A3, Page 2, of the Loan Contract: <br /> a. If the amount of loan funds disbursed by the CWCB, to the Borrower, differs from the LOAN <br /> AMOUNT,the parties shall amend this CONTRACT or exercise an OPTION LETTER.A SAMPLE <br /> OPTION LETTER is attached, to this AMENDMENT as APPENDIX D. <br /> b. An amendment to this CONTRACT shall be executed for the following changes including, <br /> but not limited to, an increase in LOAN AMOUNT, change in collateral, and decrease in <br /> LOAN AMOUNT with re-amortization of the Loan. <br /> c. Upon substantial completion of the PROJECT with a resulting decrease in the total LOAN <br /> AMOUNT and the Borrower requests a re-amortization of the Loan. the PARTIES agree to <br /> amend this contract. <br /> d. Upon substantial completion of the PROJECT with a resulting decrease in the total LOAN <br /> AMOUNT, but not a chance in the annual payment, the STATE may exercise an option and <br /> shall provide written notice to the BORROWER in form substantially equivalent to APPENDIX <br /> D. If exercised, the provisions of the OPTION LETTER and supporting documentation shall <br /> become part of and be incorporated into this CONTRACT for the total duration of this <br /> CONTRACT. <br /> Amendment No. 1 <br /> Page 2 of 4 <br />