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CONTRACT AMENDMENT <br /> Amendment No.1 Original CMS No. 90666 CORE: CT2or7-913 <br /> Amendment No. 1 CMS No. 95438 <br /> 1) PARTIES <br /> This Amendment No.1(AMENDMENT) to the above-referenced ORIGINAL LOAN CONTRACT(hereinafter <br /> called the ORIGINAL CONTRACT) is entered into by and between Union Well Augmentation Group <br /> Ltd.,3005 W. 29th Street, Suite Gi, Greeley, Colorado 80631, (`BORROWER"), a Colorado corporation <br /> (hereinafter called"BORROWER") and the STATE OF COLORADO (hereinafter called the"STATE") <br /> acting by and through the Department of Natural Resources, Colorado Water Conservation Board, 1313 <br /> Sherman St., Denver, Colorado, 80203 (hereinafter called"CWCB"). <br /> 2) EFFECTIVE DATE AND ENFORCEABILITY <br /> This AMENDMENT shall not be effective or enforceable until it is approved and signed by the Colorado <br /> State Controller or designee (hereinafter called the"EFFECTIVE DATE"), but shall be effective and <br /> enforceable thereafter in accordance with its provisions. <br /> 3) FACTUAL RECITALS <br /> On May 18, 2016 the CWCB approved a loan request from the BORROWER for the Union Reservoir Water <br /> Rights Purchase("PROJECT")to provide additional augmentation water to shareholders by purchasing <br /> shares in the Union Reservoir Company for use in the augmentation plan.The PROJECT was substantially <br /> completed as of November 1, 2016.The Parties agree to amend the contract to reduce the final loan <br /> amount and amend the final end date to November 1, 2035. The total amount disbursed under this <br /> contract was$227,250.00.An adjustment of$20,907.00 will be made to the contract for the funds no <br /> longer needed. <br /> 4) CONSIDERATION <br /> Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be <br /> made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein <br /> set forth. <br /> The Parties acknowledge that the mutual promises and covenants contained herein and other good <br /> and valuable consideration are sufficient and adequate to support this AMENDMENT. <br /> 5) LIMITS OF EFFECT <br /> This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT. The ORIGINAL CONTRACT <br /> and all prior amendments thereto, if any, remain in full force and effect except as specifically modified <br /> herein. <br /> 6) MODIFICATIONS. <br /> The ORIGINAL CONTRACT NO. CT2o17-913 and all prior amendments thereto, if any, are modified as <br /> follows: <br /> a) Amend the contract to reduce the final loan amount and amend the final end date to November 1, <br /> 2035. The loan contract was substantially completed as of November 1, 2016. The total amount <br /> disbursed under this contract was $227,250.00. A decrease of$20,907.00 will be made to the total <br /> loan contract amount for the funds no longer needed. <br /> b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth <br /> the loan revisions: <br /> Amendment No.i <br /> Page 1013 <br />