CT2016-2055 Amendment No. 1 - Laserfiche WebLink

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I. 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,in May 2014,pursuant to the CWCB Projects Bill HB 14-1333 for the Chatfield Reallocation Project.The Chatfield Reallocation Project includes 15 individual recreational mitigation construction projects,9 individual environmental mitigation construction projects,and multiple miscellaneous project related components such as water quality monitoring,Xcel Energy gas line relocation,construction management,on-going design,etc.The 15 recreational mitigation construction projects are well defined,and some are now complete.Some environmental mitigation construction projects have started,but due to the natural of environmental mitigation work,the extent to how much will ultimately be needed is dependent on how successful each mitigation project is in generating the required number of ecological function units set forth in the environmental impact statement issued by the US Army Corps of Engineers. Each project participant signed a Water Provider Agreement(WPA)with the Department of Natural Resources (DNR)in October 2015 and project costs were estimated to be$134 million.As required by the WPA,project costs were re-evaluated and reexamined in October 2017 and DNR notified all project participants that the total reallocation project cost estimate increased to$171 million. At the time of the$134 million cost estimate,not all individual projects components were defined and costs were estimated from a feasibility level analysis on the types of mitigation and the number of individual projects that would likely be required.The$171 million is now based on the specific and defined individual project components. 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$37,573,717.00,shown on the Signature and Cover Page for this Amendment.The loan terms shall remain 30 years at 3.00%. 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 2. 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 4. 6. RESOLUTION The Borrower has adopted a Loan 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 Page 2 of 3 Amendment No.1 CT2016-2055 CMS 110446