Laserfiche WebLink
construction required for each project or as may be justified by reason of changes in <br /> the plan for a project due to differing or unforeseen site conditions, errors or <br /> omissions in the plans and specifications, changes instituted by regulatory agencies, <br /> or changes in material quantities beyond contract limits." <br /> F. At its July, 2002 meeting, the CWCB approved increasing this loan by $362,000, for a <br /> total loan amount of up to $2,443,000. The terms for the additional $362,000 loan <br /> amount are an interest rate of 5.50% per annum and a repayment period of 30 years <br /> G. The CWCB and the BORROWER have agreed to amend this contract to increase the <br /> amount of the loan by $362,000, for a total loan amount of up to $2,443,000. <br /> NOW THEREFORE, it is hereby agreed that <br /> 1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments <br /> that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the <br /> promises and agreements herein set forth. <br /> 2. It is expressly agreed by the parties that this Amendm i • 'e al to the <br /> ORIGINAL CONTRACT and all terms, conditions, and pr ' i hereof, unless specifically <br /> modified herein, are to apply to this Amendment s g Ls e ressly <br /> rewritten, incorporated, and included herein. <br /> 3. The CWCB agrees that it shall loan the BORROWER an additional $362,000 at an <br /> interest rate of 5.50% per annum for a term of 30 years, in addition to the original loan <br /> of $2,081,000 at an interest rate of 5.50% per annum for a term of 30 years, and the <br /> Borrower hereby agrees to repay the loan in accordance with the terms of the ORIGINAL <br /> CONTRACT, as amended, and Promissory Note. <br /> 4. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit <br /> to the CWCB a letter from its attorney stating that it is the attorney's opinion that (1) <br /> the contract will be duly executed by officers of the Borrower who are duly elected or <br /> appointed and are authorized to execute the contract and to bind the Borrower; (2) the <br /> ordinances of the Borrower authorizing the execution and delivery of this contract <br /> amendment were duly adopted by the governing bodies of the Borrower; (3) there are <br /> no provisions in the Colorado Constitution, or any state or local law that prevent this <br /> Amendment from binding the BORROWER; and (4) this Amendment will be valid and <br /> Page 2 of 4 <br />