C150098 Paid in Full Documents

• Contract/PO #: C150098
• Contractor Name: The Lake Henry Reservoir Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

BORROWER: THE LAKE HENRY RESERVOIR Agency Name: Water Conservation Board
COMPANY Agency Number PDA
Contract No. C150098 Routing Number: 06 PDA i,,.,ri`, J
LOAN CONTRACT AMENDMENT No. 1
(STANDARD CONTRACT-WAIVER#160-APPROVED NOVEMBER 10, 2003)
This Amendment, made this July 27, 2005 by and between the State of Colorado
for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and The Lake Henry Reservoir Company, P.O. Box 8,
Ordway, CO 81063, a Colorado nonprofit corporation ("BORROWER" or"CONTRACTOR").
FACTUAL RECITALS
A. Authority exists in the law, and funds have been budgeted, appropriated, and
otherwise made available for payment in Contract Encumbrance Number C150098.
B. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies.
C. The CWCB and the BORROWER entered into Contract Encumbrance Number
C150098, dated November 1, 2002 ("ORIGINAL CONTRACT"), incorporated herein by
reference, wherein the CWCB agreed to loan money in the total amount up to
$490,000, and the BORROWER agreed to repay the loan in accordance with the terms
of the ORIGINAL CONTRACT.
D. The Project was substantially complete as of May 1, 2005.
E. Of the $490,000 loan amount available, only $147,701.10 was disbursed to the
BORROWER for the PROJECT.
F. The parties agree to amend the contract to reduce the final loan amount.
NOW THEREFORE, it is hereby agreed that
1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments
that shall be made pursuant to this Amendment an., s-1 NA CONTRACT and the
promises and agreements herein set forth. } '
f,
2. It is expressly agreed by the parties that this Amen.hi t-- ental to the
ORIGINAL CONTRACT, and all terms, conditio a rovisions thereof, unless
specifically modified herein, are to apply to th nd ? : tsf g hey were
expressly rewritten, incorporated, and included h t 'n.
3. The BORROWER agrees that it shall execute the following documents, all o w ich shall
set forth the revised loan amount of$147,701.10:
a. Promissory Note, attached as Appendix A and incorporated herein, which shall
replace and supersede the Promissory Note in the amount of $490,000 dated
November 1, 2002, attached to the ORIGINAL CONTRACT as Appendix 2.
LOAN CONTACT NO. C150098 AMENDMENT NO. 1
Page 1 of 5