C150367 Contract

• Contract/PO #: CT2015-007
• Contract/PO #: C150367
• Contractor Name: Lamar, City of
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment#1 Original Loan Contract#C150367 Amendment#1 CMS#74528
Original CMS#62300
CORE: CT2015-007
1) PARTIES
This Amendment No. 1 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called
the ORIGINAL CONTRACT) is entered into by and between the City of Lamar, 103 North Second Street,
Lamar, Colorado, 81052, a home rule municipality, acting by and through its Water Activity Enterprise
("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 City of Lamar, acting by and through its Water Activity Enterprise was approved for a loan, from
the CWCB, totaling $792,850.00 on September 25, 2013 to finance the Raw Water Transmission Line
Replacement Project (PROJECT). The PROJECT was substantially completed as of October 1, 2014. The
Parties agree to amend the contract to reduce the final loan amount. The total amount disbursed under
this contract was $616,993.65. An adjustment of$175,856.35 will be made to the contract for the funds
no longer needed.
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. C150367 and all prior amendments thereto, if any, are modified as
follows:
a) Amend the contract to reduce the final loan amount. The loan contract was substantially
completed as of October 1, 2014. The total amount disbursed under this contract was
$616,993.65. A decrease of $175,856.35 will be made to the contract amount for the funds no
longer needed.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$616,993.65:
C) AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 1 TO LOAN CONTRACT
No. C150367, in the amount of $616,993.65 and incorporated herein, which shall replace and
supersede the original PROMISSORY NOTE dated OCTOBER 7, 2013, in the amount of
$792,850.00, attached to the ORIGINAL CONTRACT as APPENDIX 2.
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