C153748 Paid in Full Loan Compliance Confirmaton

• Contract/PO #: C153748
• Contractor Name: Excelsior Irrigating Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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AGENCY NAME: Water Conservation Board
AGENCY NUMBER: PDA
ROUTING NUMBER: Q 1 pi)/ 6 0635
Contract Amendment No. 1
This Amendment, made this ! s— day of December 2000, by and between the
State of Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Board, hereinafter referred to as the CWCB or STATE, and The Excelsior
Irrigating Company, hereinafter referred to as the CONTRACTOR.
Factual Recitals
A. Authority exists in the law, and funds have been budgeted, appropriated,
and otherwise
made available and a sufficient unencumbered balance thereof remains available for
payment in Fund Number 424, Appropriation Code L97, Contract Encumbrance Number
C153797.
B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
C. The STATE and the CONTRACTOR entered into a contract February 11, 1998, Contract
Encumbrance Number C153797, hereinafter referred to as ORIGINAL CONTRACT,
incorporated herein by reference, wherein the STATE agreed to loan money in the total
amount of $230,000, and the CONTRACTOR agreed to repay the loan in accordance with the
terms of the ORIGINAL CONTRACT.
D. The CONTRACTOR requested an additional $21,125 for rehabilitation of the Excelsior Ditch,
hereinafter referred to as the PROJECT. The total cost of the PROJECT is estimated to be
$335,000. The in - - t'i- a :.mount from $230,000 to $251,125 would provide the
CONTRACTOR with d a ;r. e.`•TATE not to exceed 75% of the total PROJECT costs.
E. At its January 26-27, 2000 meeting, the CWCB approved increasing this loan by $21,125,
for a total 1...- n wy' -v. o .:;: 1,1 which may be used to finance up to 75% of the
total PROJEs .:�, T er s o 'th ,125 loan amount is an interest rate of 4.00%
per annum ,•:— r-..a• °-•ntis.' . irty years.
F. Pursuant to HBOO-1419, Section 2, the Colorado General Assembly authorized the CWCB
to loan to the CONTRACTOR an additional amount not to exceed $21,125, hereinafter
referred to as the AUTHORIZED LOAN AMOUNT, from the Construction Fund for financing
PROJECT Costs.
G. The STATE and the CONTRACTOR have agreed to amend this contract to increase the
amount of the loan by $21,125, for a total loan amount of up to $251,125, which may be
used to finance up to 75% of the total PROJECT cost.
H. In accordance with the CWCB's approval, C. R. Evans is personally responsible for
providing collateral for the loan, but has no personal liability for repayment of the loan.
The Excelsior Irrigating Company Page 1 of 3 Contract Amendment No. 1