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<br /> AMENDMENT No. 1 TO DEED OF TRUST
<br /> Date: December 17, 2012
<br /> Grantor (Borrower): FARMERS' HIGH LINE CANAL AND RESERVOIR COMPANY
<br /> Beneficiary (Lender): Colorado Water Conservation Board
<br /> Date of Deed of Trust: January 6, 2011
<br /> Recording Date of Deed of Trust: 02/11/2011
<br /> County of Recording ("County"): Jefferson County
<br /> Deed of Trust Recording Information: 2011015668 (3 pages)
<br /> Loan Contract: C150314, Amended
<br /> Promissory Note: $2,209,597, 4.65%, 30 Years
<br /> This Amendment to the Deed of Trust is between the Grantor and the Public Trustee of the
<br /> County, State of Colorado.
<br /> The Original Deed of Trust was recorded to secure repayment of the indebtedness
<br /> evidenced by Loan Contract and Promissory Note between the Grantor and the
<br /> Beneficiary.
<br /> Based upon the result of three contractor bids exceeding the engineer's estimated
<br /> project cost. Unforeseen site conditions have been attributed to an increase in the cost
<br /> of concrete and rip-rap material costs, bonding and insurance expenses, demolition,
<br /> earthwork, dewatering and equipment (slide gates and SCADA elements) price and
<br /> installation expenses. At the November 6, 2012 meeting, the CWCB approved an
<br /> increase of 798,829 amending the total loan amount from $1,410,768 to $2,209,597.
<br /> Grantor and Beneficiary have agreed to amend the Original Deed of Trust to revise the
<br /> Principal Loan Amount to $2,209,597 and reflect the revised annual loan payment
<br /> amount as $138,054.23.
<br /> NOW THEREFORE, the CWCB and Grantor agree that:
<br /> 1. Paragraph #1 of the factual recitals of the original Deed of Trust is hereby amended
<br /> to read as follows:
<br /> The Grantor has executed a Promissory Note dated December 17, 2012, to secure
<br /> the repayment of the indebtedness evidenced by Contract No. C150314, dated
<br /> February 1, 2011, CMS #28081, as amended by Amendment No. 1, CMS #51831,
<br /> for the total principal sum of $2,209,597, to be repaid to the State of Colorado for the
<br /> use and benefit of the Department of Natural Resources, Colorado Water
<br /> Conservation Board ("CWCB") the beneficiary herein, whose address is 1313
<br /> Sherman Street, Room 721, Denver, CO 80203, payable in 30 annual installments,
<br /> in accordance with said Promissory Note, or until the loan is paid in full.
<br /> 2. In the event of any conflict, inconsistency, variance, or contradiction between the
<br /> provisions of this amendment and any of the provisions of the original deed of trust,
<br /> the provisions of this amendment shall in all respects supersede, govern, and
<br /> control.
<br /> 3. Any provisions of the original deed of trust not expressly modified herein remain in
<br /> full force and effect.
<br /> Attachment D to Loan Contract C150314
<br /> Amendment No. 1
<br /> Page 1 of 2
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