CT2016-1007 Amend 1

• Contract/PO #: CT2016-1007
• Contractor Name: Las Animas Consolidated Canal Company
• Contract Type: Loan
• County: Bent
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment No. 1 Original CMS No. 74818 CORE No. CT 2016-1007
Amendment CMS No. 91823
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 Las Animas Consolidated Canal
Company, 1800 Larimer Street, Suite 130o, Denver, Colorado 80202, (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 BORROWER was approved for a loan, from the CWCB, totaling$363,782.00 on November 20, 2014
to finance the Repair and Replacement of the Canal Spillway Structure Project (PROJECT). The PROJECT
was substantially completed as of June 1, 2016.The Parties agree to amend the contract to reduce the
final loan amount.The total amount disbursed under this contract was$95,054.27.An adjustment of
$268,727.73 will be made to the contract for the funds no longer needed.A change to the interest rate
from 5.05%to 2.00%will also be made at this time.
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. CT2016-1007 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 June 1, 2016. The total amount disbursed under this contract was $95,054.27. A
decrease of$268,727.73 will be made to the total loan contract amount for the funds no longer
needed with a change to the interest rate from 5.05%to 2.00%
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$95,054.27 at an interest rate of 2.00%:
i. AMENDMENT TO THE PROMISSORY NOTE,APPENDIX A,AMENDMENT NO. 1,LOAN CONTRACT
No.CT2o16-10o7,in the amount of$95,054.27 at an interest rate of 2.00%,and
incorporated herein,which shall replace and supersede the ORIGINAL PROMISSORY NOTE dated
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