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APPENDIX Ay AMENDMENT NO.1 TO LOAN CONTRACT CT2016-1597 <br /> AMENDMENT TO PROMISSORY NOTE <br /> Date: July u,2016 <br /> Borrower: Oligarchy Irrigation Company <br /> Total Loan Amount: $901,930.00 <br /> Interest Rate: 2.4o%per annum <br /> Term of Repayment: 3o years <br /> Loan Contract No.: CT2016-1597 <br /> Loan Payment: $42,519.58 <br /> Payment Initiation Date*: 4�r-i / , /0/ <br /> (to be filled in at Substantial Completion of Project) <br /> Maturity Date*: iffr; / l� Zi 1 <br /> (tote filled in at Substantial Completion of Project) <br /> * Payment Initiation Date and Maturity Date fields are filled in after the project has been substantially completed. <br /> 1. FOR VALUE RECEIVED, the BORROWER promises to pay the Colorado Water Conservation Board ("CWCB"), the <br /> Principal Amount plus Interest for the Term of Repayment, pursuant to the LOAN CONTRACT and this <br /> promissory note. <br /> 2. This Promissory Note replaces and supersedes the Promissory Note dated September 4, 2015, in the amount of <br /> $781,740.00. <br /> 3. Principal and interest shall be payable in equal Loan Payments,with the first payment due and payable one year <br /> from Payment Initiation Date, and annually thereafter. All principal, interest, and late charges, if any, then <br /> remaining unpaid shall be due and payable on or before the Maturity Date. <br /> 4. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street, Room 718, Denver, <br /> Colorado 80203. <br /> 5. The CWCB may impose a late charge in the amount of 5%of the annual payment if the CWCB does not receive <br /> the annual payment within 15 calendar days of the due date. <br /> 6. This Note may be prepaid in whole or in part at any time without premium or penalty. Any partial prepayment <br /> shall not postpone the due date of any subsequent payments or change the amount of such payments. <br /> 7. All payments received shall be applied first to late charges, if any, next to accrued interest and then to reduce <br /> the principal amount. <br /> 8. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER. <br /> The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt <br /> Appendix A <br /> Pageiof2 <br />