CT2015-071 Contract Amend 1 - Laserfiche WebLink

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CONTRACT AMENDMENT Amendment No.i Original Loan Contract No. CORE No. cT2o15-o71 C15o352 Original CMS No.65323 Amendment CMS No.93063 1) PARTIES This Amendment No. 1 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called the ORIGINAL CONTRACT) is entered into by and between the State of Colorado, Department of Natural Resources, Colorado Water Conservation, 1313 Sherman St., Denver, Colorado, 80203, ("CWCB"or"State"), and Boxelder Basin Regional Stormwater Authority, 1627 East 18th Street, Loveland, Colorado, 80538, a drainage authority pursuant to C.R.S. §29-1-204.2, ("BORROWER"OR"AUTHORITY"). 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 Boxelder Basin Regional Stormwater Authority was approved for a loan, from the CWCB, totaling $1,010,000.00 on August 8, 2014 to finance the Larimer and Weld Canal Crossing Structure Project (PROJECT). The PROJECT was substantially completed as of August 1,2016.The Parties agree to amend the contract to reduce the final loan amount.The total amount disbursed under this contract was$835,104.53. An adjustment of$174,895.47 will be made to the contract for the funds no longer needed. 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 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. 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.CT2o15-o71 and all prior amendments thereto, if any, are modified as follows: a) Amend the contract to reduce the final loan amount. The loan contract was substantially completed as of August 1, 2016.The total amount disbursed under this contract was$835,104.53.A decrease of$174,895.47 will be made to the total loan contract amount for the funds no longer needed. b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth the revised loan amount of$835,104.53: i. AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 1, LOAN CONTRACT NO. CT2o15-o71 , in the amount of $835,104.53 and incorporated herein, which shall replace and supersede the Original PROMISSORY NOTE dated JUNE 17, 2014, in the amount of$1,o1o,000.00,attached to the ORIGINAL CONTRACT as APPENDIX 2. Page 1 of 3