CT2015-027 Amend 2 Contract - Laserfiche WebLink

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CONTRACT AMENDMENT Amendment COFRS No. C150341 CORE No. CT2015-027 No. 2 Original CMS No. 51846 Amendment 1 CMS No. 74813 Amendment 2 CMS No. 81998 1) PARTIES This Amendment No.2(AMENDMENT) to the above-referenced ORIGINAL LOAN CONTRACT and Amendment No. 1, (hereinafter called the ORIGINAL CONTRACT) is entered into by and between the Pisgah Reservoir and Ditch Company, 917 Elm Avenue, Rocky Ford, Colorado 81067, a Colorado nonprofit corporation, (hereinafter called "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 Pisgah Reservoir and Ditch Company requested an increase to its existing CWCB LOAN CONTRACT NUMBER CT2015-027 (C150341) for the Mount Pisgah Dam/Wrights Reservoir Outlet Works Rehabilitation Project (PROJECT). The purpose of the PROJECT is to make improvements to the Pisgah Dam Outlet Works, per the State Engineer's Office (SEO) directions, to avoid a restriction order. The BORROWER is requesting a loan increase as a result of the bids received in May 2015. This request increases the existing CWCB loan amount from $549,091.00 to $1,172,261.00. At its July 15, 2015 meeting, the CWCB approved increasing this loan by $623,170.00. 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. =V; 6) MODIFICATIONS The ORIGINAL CONTRACT No. CT2015-027 (C150341) and all prior amendments thereto, if any, are modified as follows: a) Amend this contract to increase the total loan amount by $623,170.00 increasing the LOAN CONTRACT total amount from $549,091.00 to $1,172,261.00. The terms for the additional loan amount remain at an interest rate of 1.75% per annum and a repayment period of 30 years. A loan service fee of 1% is included in the additional loan amount, in accordance with CWCB Policy Number 16. b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth the revised loan amount of$1,172,261.00: Amendment No.2 Page 1 of 3