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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br /> DEBTOR: The Town of Monument, Colorado, acting by <br /> and through the Town of Monument, Colorado <br /> Water Enterprise <br /> SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> DATE OF ORIGINAL SECURITY AGREEMENT: MARCH 1, 2002 <br /> ORIGINAL PROMISSORY NOTE: $2,081,000, DATED MARCH 1, 2002, INTEREST AT <br /> THE RATE OF 5.50% PER ANNUM WITH ANNUAL <br /> PAYMENT FOR A PERIOD OF 30 YEARS OR UNTIL PAID <br /> IN FULL. <br /> ORIGINAL LOAN CONTRACT: C150062, DATED MARCH 1, 2002 <br /> 1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note to <br /> increase the loan amount from $2,081,000 to $2,443,000 and hereby amend the <br /> original security agreement to document the increase of$362,000 in the loan amount. <br /> 2. The Parties expressly agree that this Amendment is supplemental to the Security <br /> Agreement and all terms, conditions, and provisions thereof, unless specifically <br /> modified below, are to apply to this Amendment as though they were expressly <br /> rewritten, incorporated, and included herein. <br /> Amended Loan Contract: C150062, dated September 1, 2002 <br /> Replacement Promissory Note: $2,443,000, dated September 1, 2002, interest <br /> at the rate of 5.50% per annum with annual <br /> payments for a period of 30 years or until paid in <br /> full <br /> Date of Amended Security Agreement: September 1, 2002 <br /> DEBTOR: The Town of Monument, <br /> Colorado, acting by and through the <br /> Town of Monument, Colorado Water <br /> Enterprise <br /> SEAL •: <br /> E. . Konarski, President <br /> ATTEST: <br /> 1-12 t <br /> By <br /> Anne, Holliday, Secretary <br /> rt <br /> Attachment C to Contract C150062 Amendment No. 1 <br />