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b) The BORROWER agrees that it shall execute the following changes to the ORIGINAL CONTRACT:
<br /> AMEND SECTION 6A-ADDITIONAL CONDITIONS AND CONTRACT REQUIREMENTS, PROJECT
<br /> SUMMARY, APPENDIX 1, to the ORIGINAL CONTRACT, to remove reference to October 27, 2012
<br /> as the first scheduled payment date. The first scheduled payment date shall be determined after
<br /> substantial completion of the PROJECT.
<br /> AMEND SECTION 8C-ELIGIBLE EXPENSES FOR WATER PURCHASE PROJECTS, PROJECT SUMMARY,
<br /> APPENDIX 1, to the ORIGINAL CONTRACT, to replace the language to read: Legal Services
<br /> pertaining to the Original Contract and all amendments to the Original Contract.
<br /> ADD the following language TO SECTION 8- ELIGIBLE EXPENSES FOR WATER PURCHASE
<br /> PROJECTS, PROJECT SUMMARY, APPENDIX 1, to the ORIGINAL CONTRACT, E. PAYMENT OF
<br /> EASEMENTS.
<br /> AMEND PROJECT FINISH,SECTION 10-TIME FOR PERFORMANCE, PROJECT SUMMARY, APPENDIX 1
<br /> to the ORIGINAL CONTRACT to read: One (1) year from the Effective Date of Amendment
<br /> No.1.
<br /> c) The BORROWER agrees that it shall execute the following documents:
<br /> AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 1 , LOAN CONTRACT No.
<br /> CT2015-49 (150320), in the amount of $318,150 and incorporated herein, which shall replace
<br /> and supersede the original PROMISSORY NOTE dated SEPTEMBER 8, 2011, attached to the
<br /> ORIGINAL CONTRACT as APPENDIX 2. The Payment Initiation Date and Maturity Date will remain
<br /> blank until the PROJECT is substantially completed.
<br /> d) The BORROWER has adopted a resolution, irrepealable for the term of this loan, authorizing the
<br /> BORROWER to enter into this contract amendment for the LOAN AMOUNT, to establish and collect
<br /> taxes sufficient to pay the annual loan payments, to pledge said taxes for repayment of the
<br /> loan, and to execute documents necessary to convey a security interest in said taxes to the
<br /> CWCB. Said resolution will not state a maturity date of the loan and is attached as APPENDIX B.
<br /> e) Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit to the
<br /> CWCB a letter from its attorney stating that it is the attorney's opinion that (1) The DISTRICT
<br /> has full legal right and authority to execute the LOAN CONTRACT AMENDMENT and to observe and
<br /> perform its duties, covenants, obligations and agreements thereunder, (2) All of the taxable
<br /> property of the DISTRICT is subject to the levy of an ad valorem tax without limitation of rate and
<br /> in an amount sufficient to pay the principal of and interest on the Promissory Notes according
<br /> to their respective terms, (3) The LOAN CONTRACT AMENDMENT has been duly authorized,
<br /> executed and delivered by authorized officers of the DISTRICT and the LOAN CONTRACT
<br /> AMENDMENT constitutes legal, valid and binding obligations of the DISTRICT, enforceable in
<br /> accordance with their respective terms.(4)The District has complied with all requirements in
<br /> connection with the Election held within the District on November 2, 2010 and the execution
<br /> and delivery of this Loan Contract Amendment.
<br /> 7) ORDER OF PRECEDENCE
<br /> Except for the Special Provisions, in the event of any conflict, inconsistency, variance, or contradiction
<br /> between the provisions of this Amendment and any of the provisions of the ORIGINAL CONTRACT, the
<br /> provisions of this AMENDMENT shall in all respects supersede, govern, and control. The most recent
<br /> version of the Special Provisions incorporated into the ORIGINAL CONTRACT or any amendment shall
<br /> always control other provisions in the ORIGINAL CONTRACT or any amendments.
<br /> 8) AVAILABLE FUNDS
<br /> Financial obligations of the state payable after the current fiscal year are contingent upon funds for
<br /> that purpose being appropriated, budgeted, or otherwise made available.
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