CT2015-174 Contract Amendment 1

• Contract/PO #: CT2015-174
• Contractor Name: Uncompahgre Valley Water Users Association
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

APPENDIX A,AMENDMENT NO.1 TO LOAN CONTRACT CT2015-174
AMENDMENT TO PROMISSORY NOTE
Date: April 28 ,2017
Borrower: Uncompahgre Valley Water Users Association
Total Loan Amount: $5,426,813.80
Interest Rate: 2.00%
Term of Repayment: 20 years
Loan Contract No.: cr2o15-174
Loan Payment: $331,886.12
Payment Initiation Date: April i,2017
Maturity Date: April 1,2037
For Value Received, the BORROWER promises to pay the Colorado Water Conservation Board
("CWCB"), the Principal Amount plus Interest for the Term of Repayment, pursuant to the LOAN
CONTRACT and this promissory note.
1. This Amendment to Promissory Note shall replace and supersede the Original Promissory
Note attached to the Original Contract and incorporated by reference.
2. Principal and interest shall be payable in equal Loan Payments, with the first payment due and
payable one year from Payment Initiation Date, and annually thereafter. All principal, interest,
and late charges, if any, then remaining unpaid shall be due and payable on or before the
Maturity Date.
3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street
Room 718, Denver, Colorado 80203.
4. The CWCB may impose a late charge in the amount of 5%of the annual payment if the CWCB
does not receive the annual payment within 15 calendar days of the due date.
5. This Note may be prepaid in whole or in part at any time without premium or penalty. Any
partial prepayment shall not postpone the due date of any subsequent payments or change the
amount of such payments.
6. All payments received shall be applied first to late charges, if any, next to accrued interest and
then to reduce the principal amount.
7. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER.
The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt
payment of all amounts that may become due hereunder. Said security interests are evidenced
by a Security Agreement ("Security Instruments") of even date and amount and cover certain
revenues, real property, water rights and/or accounts of the BORROWER. The LOAN CONTRACT
and Security Instruments grant additional rights to the CWCB, including the right to accelerate
the maturity of this Note in certain events.
8. If any annual payment is not paid when due or any default under the LOAN CONTRACT or the
Appendix A
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