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APPENDIX Al AMENDMENT No. TO LOAN CONTRACT CT2015-102 <br /> AMENDMENT TO PROMISSORY NOTE <br /> Date: April 20, 2017 <br /> Borrower: Cottonwood Water and Sanitation District,acting by and through <br /> its water activity enterprise <br /> Total Loan Amount: $342,921.05 <br /> Interest Rate: 3.00% <br /> Term of Repayment: 3o years <br /> Loan Contract No.: CT2015-1o2 (0.50408A) <br /> Loan Payment: $19,478.13 <br /> Payment Initiation Date: January 1, 2017 <br /> Maturity Date: January 1, 2047 <br /> For Value Received, the BORROWER 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 /> CONTRACT and this promissory note. <br /> 1. This Amendment to Promissory Note replaces and supersedes the Promissory Note attached to <br /> the original contract dated September 18, 2014, in the amount of$381,780.00. <br /> 2. Principal and interest shall be payable in equal Loan Payments, with the first payment due and <br /> payable one year from Payment Initiation Date (the date the CWCB determines that the project <br /> is substantially complete), and annually thereafter. All principal, interest, and late charges, if <br /> any,then remaining unpaid shall be due and payable on or before the Maturity Date. <br /> 3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street, <br /> Room 718, Denver, Colorado 80203. <br /> 4. 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 15 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 /> 7. This Note is issued pursuant to the LOAN CONTRACT between the CWCB and the BORROWER. <br /> The LOAN CONTRACT creates security interests in favor of the CWCB to secure the prompt <br /> payment of all amounts that may become due hereunder. Said security interests are evidenced <br /> Appendix A <br /> Page i of 2 <br />