CT2015-016 Amendment No.01

• Contract/PO #: CT2015-016
• Contractor Name: Butte Irrigating and Milling Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

APPENDIX A,AMENDMENT No.1 TO LOAN CONTRACT CT2015-016
AMENDMENT TO PROMISSORY NOTE
Date: February 8,2018
Borrower: Butte Irrigating and Milling Company
Total Loan Amount: $113,236.49
Interest Rate: $0 interest for first three years,followed by 2.30%for remaining 27
years
Term of Repayment: 30 years
Loan Contract No.: CT2015-016(C150382)
Loan Payment: $0 first three years of loan, followed by 27 annual payments of
$5,676.63
Payment Initiation Date: May 1,2014
Maturity Date: May 1,2044
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 shall replace and supersede the Original Promissory
Note attached to the Original Contract and incorporated by reference.
2. Principal and interest shall be payable in equal Loan Payments,with the first payment due and
payable on the first of the month four(4)years from the 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.
Appendix A
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