CT2016-2452 Amendment NO. 1 - Laserfiche WebLink

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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 has requested,and CWCB has agreed to,a two(2)year extension of the 0%interest period,extending the 0%interest period from three(3)years to five(5)years. Project coordination between the Borrower,County and FEMA has resulted in multiple schedule delays and the extension of the 0%interest period will allow time for construction and for FEMA funds to be processed and disbursed.The loan contract condition,regarding FEMA funds, is also being revised per Board approval. 5. MODIFICATIONS The Contract is modified as follows: A. Zero percent(0%)interest for five(5)years followed by twenty-seven(27)years of amortized payments at the interest rate of 3.20%. A loan service fee of 1%is included in the loan amount,in accordance with CWCB Policy Number 16. B. Replace language in Section 7,Additional Conditions&Contract Requirements,Appendix 1,Page 2,to read: Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to be applied to the balance of the loan within thirty(30)calendar days after receipt of said funds except that FEMA grant funds can be applied to the balance of the loan within thirty(30)calendar days after FEMA Project Closeout, as long as the borrower deposits received FEMA grant funds in a secured account prior to Project Closeout. FEMA grant funds shall only be used for the repayment of rescinded grant funds or to pay down the loan principal. C. Amendment to Promissory Note, Appendix A, incorporated herein, shall replace and supersede the Original Promissory Note attached to the Original Loan Contract as Appendix 2. D. Amendment to Security Agreement,Appendix B, incorporated herein,shall supplement and operate in conjunction with the Original Security Agreement,attached to the Original Loan Contract as Appendix 4. E. Amendment to Deed of Trust, Appendix C, incorporated herein,shall supplement and operate in conjunction with the Original Deed of Trust, attached to the Original Contract as Appendix 5. The Amendment to Deed of Trust (Appendix C)shall be recorded with the Boulder County Clerk and Recorder. F. Appendix D,Option Letter,is attached to this Amendment and Option Letter language shall be an addendum to the Original Loan Contract: • If the amount of loan funds disbursed by the CWCB, to the Borrower,differs from the Loan Amount, the parties shall amend this Contract or exercise an Option Letter. A Sample Option Letter is attached, to this Amendment as Appendix D. Page 2 of 3 CT No.2016-2452