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SAMPLE OPTION LETTER <br /> (TO BE SIGNED,IF APPLICABLE,ONLY UPON SUBSTANTIAL COMPELTION OF PROJECT) <br /> Date: Original Contract:CT Option Letter CMS Routing No. Borrower: <br /> No. <br /> t) OPTIONS: <br /> a. Decrease contract value (herein referred to as ("Total Loan Amount"). <br /> i) REQUIRED PROVISION.All Option Letters shall contain the appropriate provisions set forth below: <br /> For use with all Options ia: <br /> i. The amount of the current Loan Contract Amount is decreased by($amount of change)to a new Total <br /> Loan Amount of($New Total Amount),in consideration of Substantial Completion of the Project.The <br /> Total Loan Amount is hereby modified accordingly.The revised Total Loan Amount including all <br /> previous amendments, option letters,etc.is (Insert New$Amt). <br /> a. This change does not include a change to the annual payment and interest rate. <br /> 3. This Option Letter and supporting documentation shall become part of and be incorporated into this <br /> Contract for the total duration of this Contract. <br /> 4. This Option Letter shall include the written Notice of Project Substantial Completion. <br /> 3) Effective Date.The effective date of this Option Letter is upon approval of the State Controller or <br /> Delegate. <br /> STATE OF COLORADO <br /> John W.Hicicenlooper,Governor <br /> Department of Natural Resources <br /> Colorado Water Conservation Board <br /> By: <br /> Title: <br /> Date: <br /> ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER <br /> CRS§24-30-202 requires the State Controller to approve all State contracts.This Option Letter is not valid until <br /> signed and dated below by the State Controller or delegate.Contractor is not authorized to begin performance <br /> until such time.If Contractor begins performing prior thereto,the State of Colorado is not obligated to pay <br /> Contractor for such performance or for any goods and/or services provided hereunder. <br /> STATE CONTROLLER <br /> Robert Jaros,CPA,MBA,JD <br /> By: <br /> Name: <br /> Title: <br /> Date: <br /> Appendix a <br /> Page r of i <br />