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OPTION LETTER NUMBER 1 <br /> (TO BE SIGNED,IF APPLICABLE,ONLY UPON SUBSTANTIAL COMPELTION OF PROJECT) <br /> State Agency Option Letter Number 1 <br /> Department of Natural Resources <br /> Colorado Water Conservation Board(CWCB) <br /> 1313 Sherman St,Room 718 <br /> Denver,CO 80203 <br /> Borrower Original Contract Numbers <br /> Lupton Bottom Ditch Company CMS 107362 <br /> 11016 County Road 23 CT2018-2829 <br /> Fort Lupton,CO 80621 <br /> Current Contract Maximum Amount Option Contract Numbers <br /> $561,831.60(Includes 1%Origination Fee) CMS 118497 <br /> CT2018-2829 <br /> Current Contract Expiration Date <br /> 10/01/2028 <br /> 1. OPTIONS: <br /> A. Option to decrease total contract amount and revise contract expiration date. <br /> 2. REQUIRED PROVISIONS: <br /> A. The amount of the current Loan Contract Amount is decreased by$44,168.40 from$606,000.00 to <br /> $561,831.60(Includes the 1%Origination Fee)in consideration of substantial completion of the <br /> Project.The Total Loan Amount is hereby modified accordingly. <br /> B. This change does not include a change to the annual payment and interest rate. <br /> C. This Option Letter and supporting documentation shall become part of and be incorporated into this <br /> Contract for the total duration of the Loan Contract. <br /> D. This Option Letter shall include the written Notice of Project Substantial Completion. <br /> E. The Contract Maximum Amount table on the Contract's Signature and Cover Page is hereby deleted <br /> and replaced with the Current Contract Maximum Amount table shown above. <br /> 3. OPTION EFFECTIVE DATE: <br /> A. The effective date of this Option Letter is upon approval of the State Controller or an authorized <br /> delegate. <br /> In accordance with§24-30-202 C.R.S.,this Option is not valid <br /> STATE OF COLORADO until signed and dated below by the State Controller or an <br /> John W.Hickenlooper,Governor authorized delegate. <br /> Colorado Department of Natural Resources , STATE CONTROLLER <br /> Colorado Water Cons- ation Board(CWCB) Robert Jaros,CPA,MBA, <br /> P. <br /> / /./ <br /> (Signature) By: r (Signature) <br /> Name: Kirk Russell,P.E.,Section Chief ,('!,.;e van(leer <br /> CWCB Finance Section Title: [1�r���''.Y tor <br /> (O/�(� $ CO <br /> Department f42.9ources <br /> Date: <br /> Option Effective Date: ///7 /a3, <br /> Page 1 of 1 <br />