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Amendment No. 1 to Deed of Trust <br /> Date: May 9, 2011 <br /> Grantor (Borrower): Stagestop Owners Association <br /> Beneficiary (Lender): Colorado Water Conservation Board <br /> Date of Deed of Trust: August 22, 2010 <br /> Recording Date of Deed of Trust: September 27, 2010 <br /> County of Recording ("County"): Park <br /> Deed of Trust Recording Information: 674059 (3 pages) <br /> Loan Contract: C150310, dated August 22, 2010 and <br /> amended May 9, 2011 <br /> Promissory Note: $114,241.35, 4.25%, 20 years, May 9, 2011 <br /> This Amendment to the Deed of Trust is between the Grantor and the Public Trustee of <br /> the County, State of Colorado. <br /> The Original Deed of Trust was recorded to secure repayment of the <br /> indebtedness evidenced by Loan Contract and Promissory Note between the Grantor <br /> and the Beneficiary. <br /> The Debtor did not borrow the full amount available under the Loan Contract, <br /> and the principal amount of the loan has been reduced. <br /> Grantor and Beneficiary have agreed to amend the Original eed of Trust to <br /> $114,241.35 to reflect the revised principal and annual loan payment a ount. <br /> NOW THEREFORE, the CWCB and Grantor agree that: <br /> 1. The first full paragraph of the Original Deed of Trust is hereby amnded to read as <br /> follows: <br /> The Grantor has executed a Promissory Note dated May 9, 2011, to secure the <br /> repayment of the indebtedness evidenced by Contract No. C150310 dated August <br /> 22, 2010 and amended May 9, 2011, for the total principal sum o $114,241.35, to <br /> be repaid to the State of Colorado for the use and benefit of th Department of <br /> Natural Resources, Colorado Water Conservation Board ("CWCB') the beneficiary <br /> herein, whose address is 1313 Sherman Street, Room 721, De ver, CO 80203, <br /> payable in 20 annual installments, in accordance with said Promiss Ty Note, or until <br /> the loan is paid in full. <br /> 2. In the event of any conflict, inconsistency, variance, or contradic ion between the <br /> provisions of this amendment and any of the provisions of the origi al 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 /> Appendix C to Loan Contract C150310 Amend ent No. 1 <br /> Page 1 of 2 <br />