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• <br /> IP <br /> BORROWER: STAGESTOP OWNERS Agency Name: Water Conservation Board <br /> ASSOCIATION Agency Number PDA <br /> Contract No. C150310 <br /> Original Loan Amount: $192,708 <br /> Adjustment (Decrease): $78,466.65 PA)D <br /> Adjusted Loan Amount: $114,241.35 <br /> LOAN CONTRACT AMENDMENT . <br /> (STANDARD CONTRACT—WAIVER#160—APPROVED NOVEMBER 10, 2003) <br /> This Amendment, made this May 9, 2011, by and between the State of Colorado <br /> for the use and benefit of the Department of Natural Resources, Colorado Water <br /> Conservation Board ("CWCB"), and the Stagestop Owners Association, 493 Stagestop <br /> Road, SS D-5, Jefferson, CO 80456, a Colorado nonprofit corporation ("BORROWER" or <br /> "CONTRACTOR"). <br /> FACTUAL RECITALS <br /> A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise <br /> made available for payment in Contract Encumbrance Number C150310. <br /> B. Required approval, clearance, and coordination have been accomplished from and with <br /> appropriate agencies. <br /> C. The CWCB and the BORROWER entered into Contract Encumbrance Number C150310, <br /> dated August 22, 2010 ("ORIGINAL CONTRACT"), incorporated herein by reference, <br /> wherein the CWCB agreed to loan money in the total amount up to $192,708, and the <br /> BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL <br /> CONTRACT. <br /> D. The project financed with the loan proceeds was substantially complete as of February <br /> 1, 2011, and of the $192,708 loan amount available, the BORROWER used only <br /> $127,741.35. <br /> E. In addition, BORROWER made a principal pre-payment in the amount of$13,500, leaving <br /> a loan amount of$114,241.35. <br /> F. The parties agree to amend the contract to reduce the final loan amount to <br /> $114,241.35. <br /> NOW THEREFORE, it is hereby agreed that <br /> 1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments <br /> that shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the <br /> promises and agreements herein set forth. <br /> 2. It is expressly agreed by the parties that this Amendment is supplemental to the <br /> ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless <br /> specifically modified herein, are to apply to this Amendment as though they were <br /> expressly rewritten, incorporated, and included herein. <br /> Loan Contract C150310 Amendment No. 1 <br /> Page 1 of 5 <br />