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II IIIIIIUIIIIIIIIIIIIIIIIIIIIIIIII 0 9374 285 IIIIIIIIIIIIIIIIIIIIIIIIUI $16.00 DF:$0.00 0410912014 03:39 PM RF:$16 Boulder County Clerk,CO AMENDMENT No.1 TO LOAN CONTRACT C150327 AMENDMENT TO THE DEED OF TRUST Date: February 12, 2014 Grantor(Borrower): Big Elk Meadows Association, a Colorado nonprofit corporation Beneficiary (Lender): Colorado Water Conservation Board Date of Deed of Trust: January 14, 2012 Recording Date of Deed of Trust: April 10, 2012 County of Recording ("County"): Boulder County Deed of Trust Recording Information: #03215538 (3 pages) Loan Contract: C150327, Amended Promissory Note: $272,700, 4.50%, 0% interest for three year deferment period, followed by 4.50% per annum, for remaining 30 years This Amendment to the ORIGINAL DEED OF TRUST is between the Grantor and the Public Trustee of the County, State of Colorado. The ORIGINAL DEED OF TRUST was recorded to secure repayment of the indebtedness evidenced by the LOAN CONTRACT and PROMISSORY NOTE between the Grantor and the Beneficiary. This Amendment to the ORIGINAL DEED OF TRUST shall clarify the legal description, of the COLLATERAL, to precisely describe the COLLATERAL as: An undivided one-hundred percent interest in the NE %of the NE % of Section 2, T3N, R72W of the 6th Principal Meridian, located in Boulder County, Colorado, containing 40 acres of land. NOW THEREFORE, the CWCB and Grantor agree that: 1. This AMENDMENT to the DEED OF TRUST, APPENDIX 5A dated January 27, 2014 shall supplement and operate in conjunction with the DEED OF TRUST dated January 14, 2012, attached to the ORIGINAL CONTRACT as APPENDIX 5 and incorporated herein by reference. 2. The Grantor has executed a Promissory Note dated January 14, 2012, to secure the repayment of the indebtedness evidenced by Contract No. C150327 dated February 15, 2012, as amended on January 27, 2014 for the total principal sum of $272,700, to be repaid to the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board ("CWCB") the beneficiary herein, whose address is 1313 Sherman Street, Room 721, Denver, CO 80203, payable in 26 annual installments, in accordance with said Promissory Note, or until the loan is paid in full. 3. In the event of any conflict, inconsistency, variance, or contradiction between the provisions of this amendment and any of the provisions of the original deed of trust, Appendix 5A to Amendment No.1 Loan Contract C150327 Page 1 of 2 RQ j3