CT2016-039 - AOL

• Contractor Name: Big Elk Meadows Association
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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VAHRENWALD, McMAHILL, MASSEY & MITCHELL, LLC
ATTORNEYS AT LAW
125 SOUTH HOWES,SUITE 1100
FORT COLLINS,COLORADO 80521
www.vmmmlaw.com
JACK D.VAHRENWALD DONALD E.JOHNSON,JR
J.BRIAN McMAHILL OF COUNSEL
ALLAN S.MASSEY
MASON C.MITCHELL TELEPHONE[phone]
AUBREY C.KELLY FAX(97C)48'51'5
ANDREW S.PRIEBE
BORROWER'S COUNSEL'S OPINION LETTER
Colorado Water Conservation Board
Construction Fund Section
1313 Sherman Street, Room 718
Denver, CO 80203
Attn: Peg Mason, Contracts Manager
Re: Loan Contract Amendment No. I between Colorado Water Conservation Board
and Big Elk Meadows Association
Amendment No. 1, Contract No. CMS98613 and CT2015-039
Gentlemen:
We are counsel for Big Elk Meadows Association ('Borrower") in connection with the
Loan Contract Amendment No. 1 between Colorado Water Conservation Board (-CWCB") and
the Borrower purporting to increase the loan previously given to the Borrower (the "Originwwl
Loan") from $1,515,000.00 to $2,020,000.00. In connection with the foregoing, we have
reviewed and examined the following:
1. The Certificate of Incorporation for the Borrower originally dated August 2. 1966
and as amended April 30, 1976.
2. The Bylaws of the Borrower adopted January 19, 1967, revised March 31. 1975.
and again revised March 28, 1983.
3. A copy of Loan Contract No. C 150391 bete ecu CWCB and the Borrower signed
by the parties in February 2014, said loan in the original principal amount 01-
$1,515,000.00.
4. The Loan Contract Amendment No. 1, Contract Nos. CMS98613 and CT2015-
039 purporting to increase the amount of the Original Loan from $1,515,000.00 to
$2,020,000.00 (the "Loan Amendment").