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CONTRACT AMENDMENT Amendment No 2 Original Loan Contract No C150360 CORE: CT2015-141 Original CMS No. 62296 Amendment No.1 CMS No 76921 Amendment No 2 CMS No 82430 1) PARTIES This Amendment No 2 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called the ORIGINAL CONTRACT) is entered into by and between the East Mesa Water Company , 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 East Mesa Water Company was approved for a loan from the CWCB on January 25, 2015, which was amended on March 12, 2015 and is collectively known as the ORIGINAL CONTRACT. The total loan amount of$757,500.00 financed the Ditch Piping Project (PROJECT). The PROJECT was substantially completed as of July 1, 2015. The Parties agree to amend the contract to reduce the final loan amount. The total amount disbursed under this contract was $732,926.92. The BORROWER made a pre-payment of$365,508.50. An adjustment of$390,081.58, to decrease the total loan amount, will be made to the contract. 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. CT2015-141 (C150360) and all prior amendments thereto, if any, are modified as follows: a) Amend the contract to reduce the final loan amount. An adjustment of$390,081.58, to decrease the total loan amount to $367,418.42 will be made to the contract. b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth the revised loan amount of$367,418.42: C) AMENDMENT TO THE PROMISSORY NOTE,APPENDIX A-1,AMENDMENT NO. 2, LOAN CONTRACT NO. CT2015-141 (C150360), in the amount of $367,418.42 and incorporated herein, which shall replace and supersede the ORIGINAL PROMISSORY NOTE dated January 17, 2015, attached to the ORIGINAL CONTRACT as APPENDIX 2 and the AMENDED PROMISSORY NOTE dated March 2, 2015 in the amount of $757,500.00, attached to AMENDMENT 1 to the ORIGINAL CONTRACT as APPENDIX A. Page 1 of 3