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AMENDMENT NO. 1 TO SECURITY AGREEMENT <br /> DEBTOR: THE LAKE HENRY RESERVOIR COMPANY <br /> SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> DATE OF ORIGINAL SECURITY AGREEMENT: NOVEMBER 1, 2002 <br /> Original Promissory Note: $490,000, dated November 1, 2002, Interest at <br /> the rate of 4.25% per annum with annual <br /> payment for a period of 30 years or until paid in <br /> full. <br /> ORIGINAL LOAN CONTRACT: C150098, DATED NOVEMBER 1, 2002 <br /> The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note to <br /> reduce the loan amount from $490,000 to $147,701.10 and hereby amend the original <br /> Security Agreement to document the change of loan amount. <br /> The Parties expressly agree that this Amendment is supplemental to the Security <br /> Agreement and all terms, conditions, and provisions thereof, unless specifically modified <br /> below, are to apply to this Amendment as though they were expressly rewritten, <br /> incorporated, and included herein. <br /> Amended Loan Contract: C150098, dated July 27, 2005 <br /> Replacement Promissory Note: $147,701.10, dated July 27, 2005, interest at <br /> the rate of 4.25% per annum with annual <br /> payments for a period of 30 years or until paid in <br /> full. <br /> Date of Amended Security Agreement: July 27, 2005 <br /> -` ,y , DEBTOR: The Lake Henry Reservoiur <br /> ri c4.04." '� Company <br /> • <br /> • <br /> • <br /> By Robert ,-R I r, President <br /> ATTE$'.f': ,c, * � <br /> r . <br /> ,Ft <br /> By Q ot, R- . ,•_ <br /> Allen L. Rin le Cor orate Secreta -)41 <br /> f <br /> g p rY r <br /> APPENDIX B to LOAN CONTACT NO. C150098 AMENDMENT NO. 1 <br /> Page 1 of 1 <br />