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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br /> DEBTOR: SANCHEZ DITCH AND RESERVOIR COMPANY <br /> SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> DATE OF ORIGINAL SECURITY AGREEMENT: AUGUST 20, 1992 <br /> ORIGINAL PROMISSORY NOTE: $287,139.36 DATED AUGUST'2'O, 199 INTEREST AT <br /> THE RATE OF 3.00% WITH ANNUAL`1P', Fi T OF <br /> $11,485.57 FORA P FRID OF 25 YEAR.• , '' IL PAID <br /> IN FULL. 'T <br /> ORIGINAL LOAN CONTRACT: C153623, DATED AUGUY T . �1. 2 A AI4.LADED <br /> MARCH 25, 2013 <br /> 1. Pursuant to the Board's approval of an annual loan payment deferral, the September 011 <br /> annual loan payment of $11,485.57 and the interest of $2,146.75 were deferred by CWCB. <br /> The unpaid interest was added to the loan principal changing the new loan principal amount to <br /> $73,705.22. <br /> 2. The Parties expressly agree that this Amendment is supplemental to the Security Agreement <br /> dated August 29, 1992, Paragraph A. 14, Page 8 of the ORIGINAL CONTRACT and all terms, <br /> conditions, and provisions thereof, unless specifically modified below, are to apply to this <br /> Amendment as though they were expressly rewritten, incorporated, and included herein. <br /> Amended Loan Contract: Amendment No. 1 to Loan Contract No.C153623 <br /> Replacement Promissory Note: $73,705.22, dated March 25, 2013, interest at the <br /> rate of 3.00% per annum with annual payments for a <br /> period of 6years or until paid in full. <br /> Date of Amended Security Agreement: March 25, 2013 <br /> DEBTOR: SANCHEZ DITCH AND RESERVOIR COMPANY <br /> SEAL <br /> By )d d-r-�a -%,^y, <br /> Signature/Title <br /> ATTEST: <br /> Date E'/3-/3 <br /> By , ("2.0 5( i.07 iri,7 <br /> Signature/T e <br /> Date a-/3-/3 <br /> Appendix C to Amendment No.1 <br /> Loan Contract C153623 <br /> Page 1 of 1 <br />