CT2015-048 Amend 2

• Contract/PO #: CT2015-048
• Contract/PO #: C150089
• Contractor Name: Owl Creek Reservoir Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment No. 2 Original Loan Contract CORE No. CT2015-o48
No.Ci5oo89
Original CLIN No. 03 PDA 00078
Amend No. 1 CLIN No. o8 PDA
00074
Amend No. 2 CMS No. 90169
1) PARTIES
This Amendment No. 2 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT AND AMENDMENT
No. 1, (hereinafter called the ORIGINAL CONTRACT) is entered into by and between the Owl Creek
Reservoir Company,a Colorado 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 Owl Creek Reservoir Company was approved for a loan, from the CWCB, totaling$1,125,000.00 in
November 2001 to finance the Owl Creek Reservoir Project (PROJECT). The PROJECT was substantially
completed as of May 1,2016.The Parties agree to amend the contract to reduce the final loan amount.The
total amount disbursed under this contract was$485,000.00.An adjustment of$640,000.00 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-o48 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 May 1, 2016. The total amount disbursed under this contract was $485,000.00. A
decrease of$640,000.00 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$485,000.00:
c) AMENDMENT TO THE PROMISSORY NOTE,APPENDIX A,AMENDMENT No. 2, LOAN CONTRACT No.
CT2o15-o48, in the amount of$485,000.00 and incorporated herein, which shall replace and
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