CT2017-3188 Amendenment No. 1

• Contract/PO #: CT2017-3188 Amendment No. 1
• Contractor Name: Chilcott Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

Appendix A,Amendment No.1 to Loan Contract CT2017-3188
Amendment to Promissory Note
Date: October 25,2017
Borrower: Chilcott Ditch Company
Total Loan Amount: $459,991.12
Interest Rate: 2.20%per annum
Term of Repayment: 20 years or until loan is paid in full
Loan Contract No.: CT2017-3188
Loan Payment: $28,677.42
Payment Initiation Date: November 1,2017
Maturity Date: November 1,2037
For Value Received,the Borrower promises to pay the Colorado Water Conservation Board("CWCB"),the
Principal Amount plus Interest for the Term of Repayment, pursuant to the Loan Contract and this
promissory note.
1. This Amendment to Promissory Note in the revised total loan amount shall replace and supersede the
Original Promissory Note, attached as Appendix 3 to the Original Loan Contract, in the amount of
$580,750.00 and incorporated by reference.
2. Principal and interest shall be payable in equal Loan Payments,with the first payment due and payable
one year from Payment Initiation Date,and annually thereafter. All principal,interest,and late charges,
if any,then remaining unpaid shall be due and payable on or before the Maturity Date.
3. Payments shall be made to the Colorado Water Conservation Board at 1313 Sherman Street Room 718,
Denver,Colorado 80203.
4. The CWCB may impose a late charge in the amount of 5% of the annual payment if the CWCB does
not receive the annual payment within sixty(60)calendar days of the due date.
5. This Note may be prepaid in whole or in part at any time without premium or penalty. Any partial
prepayment shall not postpone the due date of any subsequent payments or change the amount of such
payments.
6. All payments received shall be applied first to late charges, if any, next to accrued interest and then to
reduce the principal amount.
7. This Note is issued pursuant to the Loan Contract between the CWCB and the Borrower. The Loan
Contract creates security interests in favor of the CWCB to secure the prompt payment of all amounts
that may become due hereunder. Said security interests are evidenced by a Security Agreement and
Deed of Trust ("Security Instruments") of even date and amount and cover certain revenues, real
property, and/or accounts of the Borrower. The Loan Contract and Security Instruments grant
additional rights to the CWCB, including the right to accelerate the maturity of this Note in certain
events.
8. If any annual payment is not paid when due or any default under the Loan Contract or the Security
Instruments securing this Note occurs,the CWCB may declare the entire outstanding principal balance
Appendix A
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