CT2015-003 Amend 1 Contract

• Contract/PO #: CT2015-003
• Contract/PO #: C150378
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• County: Larimer
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment Original Loan Contract No. C150378 CORE No. CT2015-003
No.1 Original CMS No. 62965
Amendment CMS No. 86940
1) PARTIES
This Amendment No.1 (AMENDMENT)to the above-referenced ORIGINAL LOAN CONTRACT(hereinafter
called the ORIGINAL CONTRACT) is entered into by and between the North Poudre Irrigation
Company, 3729 Cleveland Ave., Wellington, Colorado 80549, (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 North Poudre Irrigation Company requested an increase to its existing CWCB LOAN CONTRACT
No. CT2015-003 for the Reservoir No. 4 Rehabilitation (PROJECT). The Project is to remove the
State Engineer's Office Dam Safety Branch (SEO) imposed storage restriction on the reservoir to
allow storage of its full decree. The requested increase in loan amount is due to a final re-design,
per the SEO,for a future re-classifying of the dam from significant to high hazard. At its January
2016 meeting,the CWCB approved increasing this loan by$627,210.This request increases the
existing CWCB loan amount from $1,636,200 to$2,263,410. A loan service fee of 1% is included in
the total loan amount.
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.
6) MODIFICATIONS.
The ORIGINAL CONTRACT No. CT2015-003 (C150378) and all prior amendments thereto, if any, are
modified as follows:
a) Amend this contract to increase the total loan amount by $627,210 increasing the LOAN
CONTRACT total amount from $1,636,200 to $2,263,410. The terms for the additional loan
amount shall remain at an interest rate of 2.35% 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$2,263,410:
Amendment No. 1
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