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APPENDIX A-1, AMENDMENT No. 4 TO LOAN CONTRACT CT2015-027 (C150341) <br /> AMENDMENT TO PROMISSORY NOTE <br /> Date: March 16, 2017 <br /> Borrower: Pisgah Reservoir and Ditch Company, a Colorado nonprofit <br /> corporation <br /> Principal Amount: $990,176.11 <br /> Interest Rate: 1.75% per annum <br /> Term of Repayment: 30 years <br /> Original Loan Contract No.: CT2015-027 (C150341) <br /> Loan Payment: $42,706.05 <br /> Payment Initiation Date*: October 1, 2016 <br /> Maturity Date*: October 1, 2046 <br /> * Payment Initiation Date and Maturity Date fields are filled in after the project has been <br /> substantially completed. <br /> 1. For Value Received, the Borrower promises to pay the Colorado Water Conservation <br /> Board ("CWCB"), the Principal Amount plus Interest for the Term of Repayment, <br /> pursuant to the Loan Contract and this Promissory Note. <br /> 2. This Amendment to Promissory Note, Appendix A-2, in the revised loan amount, shall <br /> replace and supersede the Original Promissory Note attached to the Original Contract <br /> as Appendix 2 and dated November 07, 2012, the Amendment to Promissory Note <br /> Appendix A attached to Contract Amendment No. 1 and dated February 13, 2015, <br /> and Appendix A-1 attached to Contract Amendment 2, and dated July 23, 2015. <br /> 3. Principal and interest shall be payable in equal Loan Payments, with the first payment <br /> due and payable one year from Payment Initiation Date, and annually thereafter. All <br /> principal, interest, and late charges, if any, then remaining unpaid shall be due and <br /> payable on or before the Maturity Date. <br /> 4. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman <br /> Street, Room 718, Denver, Colorado 80203. <br /> 5. The CWCB may impose a late charge in the amount of 5% of the annual payment if <br /> the CWCB does not receive the annual payment within 15 calendar days of the due <br /> date. <br /> 6. This Note may be prepaid in whole or in part at any time without premium or penalty. <br /> Any partial prepayment shall not postpone the due date of any subsequent payments <br /> or change the amount of such payments. <br /> Appendix A-2 to Amendment No. 4 <br /> Page 1 of 2 <br />