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C150365 Contract
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C150365 Contract
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Last modified
12/18/2015 3:53:49 PM
Creation date
3/3/2014 4:16:40 PM
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Loan Projects
Contract/PO #
CT2015-006
C150365
Contractor Name
Santa Maria Reservoir Company
Contract Type
Loan
Water District
20
County
Hinsdale
Loan Projects - Doc Type
Contract Documents
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CONTRACT AMENDMENT <br /> Amendment Original Loan Contract C150365 CORE Number: CT2015-006 <br /> No.1 Original CMS No. 62274 <br /> Amendment No. 1 CMS No. 77092 <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 the Santa Maria Reservoir Company, <br /> P.O. Box 288, Monte Vista, CO 81144, a mutual reservoir corporation under C.R.S. §7-42-101 et seq, <br /> and a Colorado nonprofit corporation, ("BORROWER" or "COMPANY") and the STATE OF COLORADO <br /> (hereinafter called the "STATE") acting by and through the Department of Natural Resources, <br /> Colorado Water Conservation Board, (hereinafter called "CWCB"). <br /> 2) EFFECTIVE DATE AND ENFORCEABILITY <br /> This AMENDMENT shall not be effective or enforceable until it is approved and signed by the <br /> Colorado State Controller or designee (hereinafter called the "EFFECTIVE DATE"), but shall be <br /> effective and enforceable thereafter in accordance with its provisions. <br /> 3) FACTUAL RECITALS <br /> The Santa Maria Reservoir Company requested an increase to its existing CWCB LOAN CONTRACT <br /> NUMBER CT2015-006 (C150365) for the Continental Dam Spillway Restoration Project (PROJECT). <br /> The Project addresses seepage and repairs to the spillway of the Continental Reservoir in order to <br /> lift a State Engineers Office imposed dam safety storage restriction. The bids received were higher <br /> than the original estimate. The company worked with the contractor and engineer to gather <br /> additional data on the reservoir seep area. A modified approach was recommended and an increase <br /> to the loan was requested. At its January 27, 2015 meeting, the CWCB approved increasing this loan <br /> by$606,000.00. This request increases the existing CWCB loan amount from $3,071,663.00 to <br /> $3,677,663.00, which includes the CWCB 1% loan origination fee. <br /> 4) CONSIDERATION <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, and the ORIGINAL <br /> CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as <br /> specifically modified herein. <br /> 6) MODIFICATIONS. <br /> The ORIGINAL CONTRACT No. CT2015-006 (C150365) and all prior amendments thereto, if any, are <br /> modified as follows: <br /> a) Amend this contract to increase the total loan amount by $606,000 increasing the LOAN <br /> CONTRACT total amount from $3,071,663 to $3,677,663. <br /> b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth <br /> the revised loan amount of$3,677,663: <br /> Amendment No. 1 <br /> Page 1 of 3 <br />
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