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i. AMENDMENT TO THE PROMISSORY NOTE,APPENDIX A,AMENDMENT No.1,LOAN CONTRACT No.
<br /> CT2016-1597,in the amount of$901,93o.00 and incorporated herein,which shall replace and
<br /> supersede the ORIGINAL PROMISSORY NOTE dated SEPTEMBER 4,2015,in the amount of$781,740.00
<br /> and attached to the ORIGINAL CONTRACT as APPENDIX 2.
<br /> ii. AMENDMENT TO THE SECURITY AGREEMENT,APPENDIX B AMENDMENT NO. 1,LOAN CONTRACT
<br /> NO.CT2016-1597,in the amount of$901,93o.00 and incorporated herein,which shall
<br /> supplement and operate in conjunction with the ORIGINAL SECURITY AGREEMENT.,dated September
<br /> 4,2015, in the amount of $781,740.00,and attached to the ORIGINAL CONTRACT as APPENDIX 4.
<br /> iii. AMENDMENT TO DEED OF TRUST,APPENDIX C,AMENDMENT No. 1,LOAN CONTRACT No.CT2016-
<br /> 1597, in the amount of$901,93o.00 and incorporated herein,which shall supplement and operate
<br /> in conjunction with the ORIGINAL DEED OF TRUST,dated September 4, 2015, in the amount of
<br /> $781,740.00,and attached to the ORIGINAL CONTRACT as APPENDIX 5.The AMENDMENT TO DEED OF
<br /> TRUST shall be recorded with the Boulder County Clerk and Recorder.
<br /> iv. OPTION LETTER
<br /> The following Option Letter language shall be an addendum to the Promissory Note
<br /> Provisions, Paragraph A3, Page 2, of the Loan Contract:
<br /> • If the amount of loan funds disbursed by the CWCB, to the Borrower, differs from the LOAN
<br /> AMOUNT, the parties shall amend this CONTRACT or exercise an OPTION LETTER. A SAMPLE
<br /> OPTION LETTER is attached, to this AMENDMENT as APPENDIX D.
<br /> • An amendment to this CONTRACT shall be executed for the following changes including, but
<br /> not limited to, an increase in LOAN AMOUNT, change in collateral, and decrease in LOAN
<br /> AMOUNT with re-amortization of the Loan.
<br /> • Upon substantial completion of the PROJECT with a resulting decrease in the total LOAN
<br /> AMOUNT and the Borrower requests a re-amortization of the Loan, the PARTIES agree to
<br /> amend this contract.
<br /> • Upon substantial completion of the PROJECT with a resulting decrease in the total LOAN
<br /> AMOUNT, but not a change in the annual payment, the STATE may exercise an option and
<br /> shall provide written notice to the BORROWER in form substantially equivalent to APPENDIX
<br /> D. If exercised, the provisions of the OPTION LETTER and supporting documentation shall
<br /> become part of and be incorporated into this CONTRACT for the total duration of this
<br /> CONTRACT.
<br /> v. The BORROWER has adopted a resolution, irrepealable for the term of this loan, authorizing the
<br /> BORROWER to enter into this contract amendment to borrow the additional loan amount to
<br /> establish and collect assessments sufficient to pay the annual loan payments, to pledge said
<br /> assessments for repayment of the loan, and to execute documents necessary to convey a security
<br /> interest in said assessments and collateral, if necessary, to the CWCB. Said resolution is attached
<br /> as APPENDIX E.
<br /> vi. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit to the
<br /> CWCB a letter from its attorney stating that it is the attorney's opinion that (1) the person(s)
<br /> signing for the BORROWER was duly elected or appointed and has authority to sign such
<br /> documents on behalf of the BORROWER and to bind the BORROWER; (2) the BORROWER'S
<br /> governing body has validly adopted a resolution approving this Amendment; (3) there are no
<br /> provisions in the any state or local law that prevent this Amendment from binding the
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