CT2015-036 Amend 1

• Contract/PO #: CT2015-036
• Contract/PO #: C150120
• Contractor Name: Mancos Water Conservancy District
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Bill Number: MC3
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment#1 Original Loan Contract#C150120 CORE: CT2015-036
Original CLIN #PDA 04-23
Amendment CMS #77222
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 Mancos Water Conservancy District,
acting by and through its Water Activity Enterprise (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 Mancos Water Conservancy District was approved for a loan, from the CWCB, totaling
$5,486,531.00 in November 2002 to finance the Jackson Gulch Inlet Canal Rehabilitation (PROJECT).
The PROJECT was substantially completed as of January 1, 2015. The Parties agree to amend the
contract to reduce the final loan amount and change the repayment term from 30 years to 20 years. The
} total amount disbursed under this contract was $1,451,556.12. An adjustment of$4,034,974.88 will be
made to the contract for the funds no longer needed.
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. CT2015-036(C150120) and all prior amendments thereto, if any, are
modified as follows:
a) Amend the contract to reduce the final loan amount. The loan contract was substantially
completed as of January 1, 2015. The total amount disbursed under this contract was
$1,451,556.12. A decrease of$4,034,974.88 will be made to the total loan contract amount for
the funds no longer needed.
b) The repayment terms of the contract will be changed from 30 years to 20 years.
c) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$1,451,556.12:
d) AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO.1, LOAN CONTRACT NO.
CT2015-036 (C150120), in the amount of $1,451,556.12 and incorporated herein, which shall
replace and supersede the original PROMISSORY NOTE dated SEPTEMBER 9, 2003 in the amount
of$5,486,531.00 attached to the ORIGINAL CONTRACT as APPENDIX 2.
e) AMENDMENT TO THE SECURITY AGREEMENT, Appendix B AMENDMENT No. 1, LOAN CONTRACT
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