CT2015-045 Amend 1

• Contract/PO #: CT2015-045
• Contract/PO #: C150325
• Contractor Name: Crystal Lakes Water and Sewer Association
• Contract Type: Loan
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment No.1 Original Loan Contract No. CORE No. CT2015-045
C150325
Original CMS No. 40883
Amendment No.1 CMS No. 86270
1) PARTIES
This Amendment No. 1 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called
the ORIGINAL CONTRACT) is entered into by and between the Crystal Lakes Water and Sewer
Association a Colorado nonprofit corporation, (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 Crystal Lakes Water and Sewer Association was approved for a loan, from the CWCB, totaling
$2,363,400.00 on November 2011 to finance the Lower Line Pine Lake Enlargement Project
(PROJECT). The PROJECT was substantially completed as of January 1, 2016. The Parties agree to
amend the contract to reduce the final loan amount. The total amount disbursed under this contract was
$2,016,459.59. An adjustment of$346,940.41 will be made to the contract for the funds no longer
needed.
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. The ORIGINAL CONTRACT
and all prior amendments thereto, if any, remain in full force and effect except as specifically modified
herein.
6) MODIFICATIONS.
The ORIGINAL CONTRACT NO. CT2015-045 (C150325) and all prior amendments thereto, if any, are
modified as follows:
a) Amend the contract to reduce the final loan amount. The loan contract was substantially
completed as of January 1, 2016. The total amount disbursed under this contract was
$2,016,459.59. A decrease of $346,940.41 will be made to the total loan contract amount for
the funds no longer needed.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$2,016,459.59:
C) AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT No. 1 , LOAN CONTRACT No.
CT2015-045 (150325), in the amount of $2,016,459.59 and incorporated herein, which shall
replace and supersede the original PROMISSORY NOTE dated JANUARY 21, 2012, in the amount
of$2,363,400.00, attached to the ORIGINAL CONTRACT as APPENDIX 2.
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