CT2017-1209 Contract Amend 1

• Contract/PO #: CT2017-1209
• Contract/PO #: C150159
• Contractor Name: Orphan Wells of Wiggins, LLC
• Contract Type: Loan
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment#1 Original Contract C150159 CORE: CT2017-1209
Original CLIN No. 04-PDA-00065
Amendment No. 1 CMS #86947
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, Orphan Wells of Wiggins, LLC,
3506 Road T, Wiggins Colorado, 80654, a Limited Liability Company ("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 Orphan Wells of Wiggins, LLC, was approved for a loan from CWCB, in November 2003, for the
South Platte River Augmentation Project (PROJECT). The Project was substantially completed on
March 1, 2011. On July 1, 2011, CWCB approved a reduction in IDC, due to Water Court issues. At
the January 26, 2016, the Board approved a decrease to the loan amount to a total loan amount of
$615,220.28, due to collateral changes, for a term of twenty-two (22) years and a change in loan
security to include the Project components, including approximately five miles of pipe, pumps and
wells, as security for the loan in addition to the original pledge of Assessment Revenues backed by an
assessment covenant.
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 s.
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. CT2017-1209 (C150159) is modified as follows:
a. Amend the contract to decrease the total loan amount to $615,220.28 for a term of twenty-two
(22) years and to include, as loan security, the Project components, including approximately
five miles of pipe, pumps and wells, in addition to the original pledge of assessment revenues
backed by an assessment covenant will remain in place.
b. The BORROWER agrees that it shall execute the following documents:
I. AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 1, LOAN
CONTRACT No. CT2017-1209 (C150159), in the amount of$615,220.28 for a term of
twenty-two (22) years, and incorporated herein, which shall replace and supersede the
ORIGINAL PROMISSORY NOTE dated FEBRUARY 1, 2004, in the amount of $1,048,077.00
and attached to the ORIGINAL CONTRACT as APPENDIX 2.
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