CT2015-035 Amendment 1 - Laserfiche WebLink

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1. 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 C WCB Emergency Loan Contract,due to the 2013 flood event,for the Emergency Big Thompson and Platte River Division Structure Repair.The Project is completed and a decrease of$618,138.61 will be made for funds not needed.The parties agree to amend the contract to reduce the final loan amount from $808,000.00 to$189,861.39.The parities also agree to revise the language in the original Contract Condition, Appendix i,Section 7,Additional Conditions&Contract Requirements. 5. MODIFICATIONS The Contract and all prior amendments thereto,if any,are modified as follows: A. The original loan contract amount is hereby deleted and replaced with the Current Contract Maximum Amount of$]89,861.39,shown on the Signature and Cover Page for this Amendment. 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 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 Contract as Appendix 4. D. Amendment to Deed of Trust, Appendix C, in the revised loan amount, and incorporated herein shall supplement and operate in conjunction with the Original Deed of Trust, attached to the Original Contract as Appendix 5. The Amendment to Deed of Trust shall be recorded with the Larimer County Clerk and Recorder. E. Delete the original Contract Condition in Appendix i, Section 2, Additional Conditions & Contract Requirements and replace with the following language: It is required that all FEMA grant funds be applied to the balance of the emergency loan within thirty (.3o) calendar days after FEMA Project Ckseout. as long As the borrower ftosits received FEMA grant Cunds in a ,secured account prior to Project Closeout. The secured account shall only allow for repayment of rescinded grant funds, or to pay down the CWCB emergency loan principal. 6. LIMITS OF EFFECT AND ORDER OF PRECEDENCE This Amendment is incorporated by reference into the Contract,and the Contract and all prior amendments or other modifications to the Contract, if any, remain in full force and effect except as specifically modified in this Amendment. Except for the Special Provisions contained in the Contract,in the event of any conflict,inconsistency, variance, or contradiction between the provisions of this Amendment and any of the provisions of the Contract or any prior modification to the Contract,the provisions of this Amendment shall in all respects supersede,govern,and control. The provisions of this Amendment shall only supersede, govern, and control over the Special Provisions contained in the Contract to the extent that this Amendment specifically modifies those Special Provisions. Page 2 of 2 Amendment CMS No.96305