C150345 Contract Amendment

• Contract/PO #: CT2015-082
• Contract/PO #: C150345
• Contractor Name: Twenty Two Road Lateral, Inc.
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment#1 Original Loan Contract#C150345 Amendment CMS #70542
CMS #52944
CORE #2015-82
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 Twenty Two Road Lateral, Inc., 881 22
Road, Grand Junction, CO 81505, a Colorado nonprofit corporation (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 Twenty Two Road Lateral, Inc. was approved for a loan, from the CWCB, totaling $517,848 on
January 30, 2013 to finance the Twenty Two Road Lateral Replacement Project. The PROJECT was
substantially completed as of June 1, 2014. The total amount disbursed under this contract was
$517,848. The BORROWER made a principal payment totaling $400,238.98. This amendment shall
reduce the loan amount from $517,848.00 to $117,609.02.
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. C150345 and all prior amendments thereto, if any, are modified as
follows:
a) Amend the contract to reduce the loan amount. The project was substantially completed as of
June 1, 2014. The total amount disbursed under this contract was $517,848.00. The
BORROWER made a principal payment totaling $400,238.98. This amendment shall reduce the
loan amount from $517,848.00 to $117,609.02.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$117,609.02:
I. AMENDED PROMISSORY NOTE, attached as APPENDIX A, AMENDMENT NO.1 TO LOAN
CONTRACT No. C150345 in the amount of$117,609.02 and incorporated herein, which shall
replace and supersede the original PROMISSORY NOTE dated January 28, 2013, in the
amount of$517,848.00 attached to the ORIGINAL CONTRACT as Appendix 2.
Amendment No. 1 to Loan Contract C150245
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