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AMENDMENT No.1 TO LOAN CONTRACT CT2015-006 (C150365) <br /> AMENDMENT TO THE PROMISSORY NOTE <br /> Date: April 21, 2015 <br /> Borrower: Santa Maria Reservoir Company <br /> Principal Amount: $3,677,663.00 <br /> Interest Rate: 1.75% per annum <br /> Term of Repayment: 30 years <br /> Loan Contract No.: CT2015-006 (C150365) and Contract Amendment No. 1 <br /> Loan Payment: $158,616.70 <br /> Payment Initiation Date*: A/ Vein.4'ea- / , Z P/5- <br /> Maturity <br /> SMaturity Date*: No /, Z o 1_3" <br /> * Payment Initiation Date and Maturity Date fields are filled in after the project has been <br /> substantially completed. <br /> 1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water <br /> Conservation Board ("CWCB"), the Principal Amount plus Interest for the Term of <br /> Repayment, pursuant to the LOAN CONTRACT and this PROMISSORY NOTE. <br /> 2. This PROMISSORY NOTE replaces and supersedes the PROMISSORY NOTE dated <br /> February 7, 2014, in the principal amount of$3,071,663.00. <br /> 3. Principal and interest shall be payable in equal Loan Payments, with the first payment <br /> due and payable one year from Payment Initiation Date, and annually thereafter. All <br /> principal, interest, and late charges, if any, then remaining unpaid shall be due and <br /> payable on or before the Maturity Date. <br /> 4. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman <br /> Street, Room 718, Denver, Colorado 80203. <br /> 5. The CWCB may impose a late charge in the amount of 5% of the annual payment if <br /> the CWCB does not receive the annual payment within 15 calendar days of the due <br /> date. <br /> 6. This Note may be prepaid in whole or in part at any time without premium or penalty. <br /> Any partial prepayment shall not postpone the due date of any subsequent payments <br /> or change the amount of such payments. <br /> 7. All payments received shall be applied first to late charges, if any, next to accrued <br /> interest and then to reduce the principal amount. <br /> Appendix A to Amendment No. 1 <br /> Page 1 of 2 <br />