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Period or any Extended Planning Period described in Appendix A to Amendment i to this <br /> Grant,or the Running Iron Ranch is sold for any reason,then Grantee shall return the funds <br /> under this Grant subject to the following limitation: <br /> i. If the Running Iron Ranch is sold during the Planning Period described in Appendix A <br /> to Amendment i to this Grant,then the Grantee shall return the entire$1,000,000.00 <br /> grant amount plus interest charges at the rate of 3.5%per year,compounded annually, <br /> as calculated from the date of disbursement through the date the funds are repaid. <br /> Except,however,the amount returned shall not exceed Grantee's proceeds from the sale <br /> of the Running Iron Ranch <br /> ii. If the Running Iron Ranch is sold at the expiration of the Planning Period described in <br /> Appendix A to Amendment 1 to this Grant,then the Grantee shall return the entire <br /> $1,000,000.00 grant amount plus interest charges equal to$407,221.54 for the entire zo- <br /> year planning period.Except,however,the amount returned shall not exceed Grantee's <br /> proceeds from the sale of the Running Iron Ranch <br /> iii. If the Running Iron Ranch is sold during any Extended Planning Period described in <br /> Appendix A to Amendment 1 to this Grant,then the Grantee shall return the entire <br /> si,000,000.00 grant amount plus interest charges at the rate of 3.5%per year, <br /> compounded annually,as calculated from the original date of disbursement through the <br /> date the funds are repaid,including the period of time covered by the original Planning <br /> Period and any Extended Planning Period.Except,however,the amount returned shall <br /> not exceed Grantee's proceeds from the sale of the Running Iron Ranch <br /> The Pagosa Area Water and Sanitation District(PAWSD)may pay the State any amount <br /> due under this section 7.E. If PAWSD does pay an amount to the State to fulfill the <br /> obligation created by this section 7.E,then Grantee's obligation shall be reduced by the <br /> actual amount paid by PAWSD,to a minimum of zero dollars. The requirements of this <br /> section 7.E shall survive the termination of this Grant for any reason. <br /> b) The Parties agree to replace the Colorado Special Provisions with the most recent version as <br /> part consideration for this AMENDMENT.The revised Special Provisions are attached hereto and <br /> incorporated by reference herein as APPENDIX B. <br /> 7) ORDER OF PRECEDENCE <br /> Except for the Special Provisions,in the event of any conflict,inconsistency,variance,or contradiction <br /> between the provisions of this Amendment and any of the provisions of the ORIGINAL GRANT <br /> AGREEMENT,the provisions of this AMENDMENT shall in all respects supersede,govern,and control.The <br /> most recent version of the Special Provisions incorporated into this AMENDMENT shall always control <br /> other provisions in the ORIGINAL GRANT AGREEMENT or any amendments. <br /> [THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK] <br /> Page 2 of 3 <br />