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SAMPLE OPTION LETTER <br /> Date: Original Contract#: CT Option Letter# CMS Routing # <br /> 1) OPTIONS: <br /> a.Decrease contract value (herein referred to as"Loan Contract Amount"). <br /> 2) REQUIRED PROVISION. All Option Letters shall contain the appropriate provisions set forth <br /> below: <br /> For use with all Options 1a: <br /> 1. The amount of the current Loan Contract Amount is decreased by $ amount of change to a <br /> new Loan Contract Amount of Insert New $Amt in consideration of Substantial <br /> Completion of the Project. The Loan Contract Amount is hereby modified accordingly. The <br /> revised total Loan Contract Amount including all previous amendments, option letters, etc. <br /> is Insert New$Amt. <br /> 2. This change does not include a change to the annual payment. <br /> 3. This Option Letter and supporting documentation shall become part of and be incorporated <br /> into this Contract for the total duration of this Contract. <br /> 4. This Option Letter shall include the written Notice of Project Substantial Completion. <br /> 3) Effective Date. The effective date of this Option Letter is upon approval of the State <br /> Controller or Delegate. <br /> STATE OF COLORADO <br /> John W. Hickenlooper, Governor <br /> Department of Natural Resources <br /> Colorado Water Conservation Board <br /> By: <br /> Title: <br /> Date: <br /> ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER <br /> CRS §24-30-202 requires the State Controller to approve all State contracts. This Option <br /> Letter is not valid until signed and dated below by the State Controller or delegate. <br /> Contractor is not authorized to begin performance until such time. If Contractor begins <br /> performing prior thereto, the State of Colorado is not obligated to pay Contractor for <br /> such performance or for any goods and/or services provided hereunder. <br /> STATE CONTROLLER <br /> Robert Jaros, CPA, MBA, JD <br /> By: <br /> Date: <br /> Appendix 2 <br /> Page 1 of 1 <br />