CT2015-166 Contract Amend 1 - Laserfiche WebLink

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I. PARTIES This Amendment (the "Amendment") to the Original Contract shown on the Signature and Cover Page for this Amendment(the"Contract")is entered into by and between the Borrower,and the State. 2. TERMINOLOGY Except as specifically modified by this Amendment, all terms used in this Amendment that are defined in the Contract shall be construed and interpreted in accordance with the Contract. 3. AMENDMENT EFFECTIVE DATE AND TERM A. Amendment Effective Date This Amendment shall not be valid or enforceable until the Amendment Effective Date shown on the Signature and Cover Page for this Amendment. The State shall not be bound by any provision of this Amendment before that Amendment Effective Date. The Parties'respective performances under this Amendment and the changes to the Contract contained herein shall commence on the Amendment Effective Date shown on the Signature and Cover Page for this Amendment. 4. PURPOSE The Borrower was approved for a CWCB Loan Contract,Loan Contract Number CT2015-166,for the Anaconda Ditch Water Right Acquisition(Project)to purchase water rights for the District's Augmentation Program.The water rights purchase was delayed when the water and associated lands were involved in a foreclosure action which took time to resolve,during this time the cost of water increased.The parties have agreed to amend the contract to increase the total loan amount from$839,000.00 to$1,123,574.50 to pay for the increased cost of the water. 5. MODIFICATIONS The Contract and all prior amendments thereto,if any,are modified as follows: A. The original loan contract amount is hereby deleted and replaced with the Current Contract Maximum Amount of$1,123,574.50, shown on the Signature and Cover Page for this Amendment. This Amendment also revises the original service fee to add an additional$7.00. The original service fee was estimated and the additional funds now true up the original 1% origination fee amount. The origination fee for the original contract amount and the increase to the total contract amount is$11,124.50. B. Amendment to Promissory Note, Appendix A, in the revised loan amount, and incorporated herein shall replace and supersede the Original Promissory Note attached to the Original Loan Contract as Appendix 2. C. Amendment to Security Agreement, Appendix B, in the revised loan amount, and incorporated herein shall supplement and operate in conjunction with the Original Security Agreement, attached to the Original Loan Contract as Appendix 4. D. Appendix C,Option Letter,is attached to this Amendment and Option Letter language shall be an addendum to the Promissory Note Provisions,Paragraph A3,Page 2,of the Original Loan Contract: • If the amount of loan funds disbursed by the CWCB,to the BORROWER,differs from the Loan Amount,the parties shall amend this Contract or exercise an Option Letter.A Sample Option Letter is attached,to this Amendment as Appendix C. • An amendment to this Contract shall be executed for the following changes including,but not limited to,an increase in Loan Amount,change in collateral,and decrease in Loan Amount with re-amortization of the Loan. • Upon substantial completion of the Project with a resulting decrease in the total Loan Amount and the Borrower requests a re-amortization of the Loan,the Parties agree to amend this contract. • Upon substantial completion of the Project with a resulting decrease in the total Loan Amount,but not a change in the annual payment,the State may exercise an option and shall provide written notice to the Borrower in form substantially equivalent to Appendix C.If exercised,the provisions of the Option Letter and supporting documentation shall become part of and be incorporated into this Contract for the total duration of this Contract. Page 2 of 3 Amendment CMS No.96820