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APPENDIX A, AMENDMENT NO.1 TO LOAN CONTRACT CTzo15-oz5 <br />AMENDMENT TO PROMISSORY NOTE <br />Date: <br />Borrower: <br />Total Loan Amount: <br />Interest Rate: <br />Term of Repayment: <br />Loan Contract No.: <br />Loan Payment: <br />April �, zo17 <br />Oligarchy Irrigation Company <br />�326,035•77 <br />$o interest for first three years, followed by 2.50% for remaining <br />a� years <br />3o years <br />cTzoiS-oz5(Ci5o37a) <br />$o first three years of loan, followed by z� annual payments of <br />$i6,�5o.�0 <br />Payment Initiation Date: December i, ao1� <br />Maturity Date: December i, ao4� <br />For Value Received, the BoltRowER promises to pay the Colorado Water Conservation Board <br />("CWCB"), the Principal Amount plus Interest for the Term of Repayment, pursuant to the LOAN <br />CoNTtzAC7' and this promissoiy note. <br />i. This Amendment to Promissory Note shall repince and supersede the Original Promissory <br />Note attached to the Original Contract and incorporated by reference. <br />a. Principal and interest shall be payable in equal Loan Payments, with the first payment due and <br />payable on the first of the month four (4) years from the Payment Initiation Date and annually <br />thereafter. All principal, interest, and late charges, if any, then remaining unpaid shall be due <br />and payable on or before the Maturity Date. <br />3. Payments shall be made to the Colorado Water Conservation Board at i3i3 Sherman Street <br />Room �i8, Denver, Colorado 8oao3. <br />q.. The CWCB may impose a late charge in the amount of 5% of the annual payment if the CWCB <br />does not receive the annual payment within i5 calendar days of the due date. <br />5. This Note may be prepaid in whole or in part at any time without premium or penalty. Any <br />partial prepayment shall not postpone the due date of any subsequent payments or change the <br />amount of such payments. <br />6. All payments received shall be applied first to late charges, if any, next to accrued interest and <br />then to reduce the principal amount. <br />�. This Note is issued pursuant to the LoAtv Cotv7'ItACT between the CWCB and the BoRROWER. <br />Appendix A <br />Page i of a <br />