CT2016-2001 Amendment No. 1 Contract

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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 The Borrower was approved for a CWCB Loan Contract,Loan Contract Number CT2016-2001,in September 2015 for the Laramie-Poudre Tunnel Rehabilitation.The purpose of the Project was extend the life of the tunnel and improve maintenance access by rehabilitating the west and east tunnel portals.The west portal is completed; however,the east portal needed additional work that required additional US Forest Service permitting. The estimated construction costs increased and the parties have agreed to amend the contract to increase the total loan amount by $606,000.00;from$1,111,000.00 to$1,717,000.00,(amounts include the 1%CWCB 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$1,717,000.00,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 Latimer County Clerk and Recorder. 6. RESOLUTION The Borrower has adopted a loan resolution(Appendix D)irrepealable for the term of this loan,authorizing the Borrower to enter into this contract amendment to borrow the additional loan amount and to execute all documents required by CWCB. 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 provisions Page 2 of 3 Amendment No. 1 CT No.2016-2001 CMS No.108481