CT2017-3641 Amendment No. 01

• Contract/PO #: CT2017-3641
• Contractor Name: North Poudre Irrigation Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

1. PARTIES
This Amendment(the"Amendment")to the Original Contract(the"Contract")shown on the Signature and Cover
Page for this Amendment is entered into by and between the Borrower("Borrower"or"Authority"),and the State
("CWCB").
2. TERMINOLOGY
Except as specifically modified by this Amendment,all terms used in this Amendment that are defined in the Contract
shall be construed and interpreted in accordance with the Contract.
3. AMENDMENT EFFECTIVE DATE AND TERM
A. Amendment Effective Date
This Amendment shall not be valid or enforceable until the Amendment Effective Date shown on the Signature
and Cover Page for this Amendment.The State shall not be bound by any provision of this Amendment before
that Amendment Effective Date.
The Parties' respective performances under this Amendment and the changes to the Contract contained herein
shall commence on the Amendment Effective Date shown on the Signature and Cover Page for this Amendment.
4. PURPOSE
At the March 23,2017 board meeting,CWCB approved a loan to North Poudre Irrigation Company,for the
Mountain Supply Reservoir No. 10 Repairs,to restore full functions to the reservoir.Due to higher than expected
construction costs and additional items specified by the State Engineer's Office(SEO),the borrower is requesting a
total loan increase of$303,000.00,increasing the existing CWCB total loan amount from$499,950.00 to
$802,950.00 which includes the CWCB 1%loan origination fee.
5. MODIFICATIONS
The Contract and all prior amendments thereto,if any,are modified as follows:
A. The original loan contract amount is hereby deleted and replaced with the Current Contract Maximum Amount
of$802,950.00,shown on the Signature and Cover Page for this Amendment.
B. Amendment to Promissory Note,Appendix A,in the revised loan amount,and incorporated herein shall replace
and supersede the Original Promissory Note attached to the Original Loan Contract as Appendix 3.
C. Amendment to Security Agreement, Appendix B, in the revised loan amount, and incorporated herein shall
supplement and operate in conjunction with the Original Security Agreement,attached to the Original Loan Contract
as Appendix 5.
D. Amendment to Deed of Trust,Appendix C,in the revised loan amount,and incorporated herein shall supplement
and operate in conjunction with the Original Deed of Trust, attached to the Original Contract as Appendix 6. The
Amendment to Deed of Trust(Appendix C)shall be recorded with the Larimer County Clerk and Recorder.
6. RESOLUTION
The Borrower has adopted a Board of Director's Resolution,irrepealable for the term of this loan,authorizing the
Borrower to enter into this contract amendment to borrow the additional loan amount,to establish and collect
assessments sufficient to pay the annual loan payments,to pledge said assessments for repayment of the loan,and to
execute documents necessary to convey a security interest in said assessments and collateral,if necessary,to the
CWCB,and attached as Appendix D.
7. ATTORNEY OPINION LETTER
Prior to the execution of this Amendment by the CWCB,the BORROWER shall submit to the CWCB a letter from its
attorney stating that it is the attorney's opinion that(1)the person(s)signing for the BORROWER was duly elected or
appointed and has authority to sign such documents on behalf of the BORROWER and to bind the BORROWER;(2)the
BORROWER'S governing body has validly adopted a resolution approving this Amendment; (3)there are no
Page 2 of 3 Amendment No.1
CT No.2017-3641 CMS No.105995