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APPENDIX 2, SAMPLE OPTION LETTER <br /> (TO BE USED AT SUBSTANTIAL COMPLETION OF PROJECT) <br /> State Agency Option Letter Number <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 Number <br /> Left Hand Ditch Company CMS 127646 <br /> 209 Murray St.,Unit B CT2019-3463 <br /> Niwot,CO 80544 <br /> Option Contract Number <br /> Loan Contract Effective Date <br /> Loan Contract Expiration Date <br /> 1. OPTIONS: <br /> a. Option to decrease total Contract amount and revise Contract expiration date upon CWCB Notice of <br /> Project Substantial Completion. <br /> 2. REQUIRED PROVISIONS: <br /> a. The amount of the current Loan Contract Amount is decreased by($amount f change)from <br /> $ to$ in consideration of substantial completion f the Project.The Total <br /> 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 Co letion. <br /> e. The Contract Maximum Amount table on the Contract Cover Page is hereby eleted and replaced with <br /> 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 delegate. <br /> In accordance with§24-30-202,C.R.S.,this Option is not <br /> STATE OF COLORADO valid until signed and dated below by the State Controller or <br /> Jared Polis,Governor an authorized delegate. <br /> Department of Natural Resources STATE CONTROLLER <br /> Colorado Water Conservation Board Robert Jaros,CPA,MBA,JD <br /> By: <br /> By: <br /> Name: <br /> Name: <br /> Title: <br /> Title: <br /> Date: <br /> Option Effective Date: <br /> Page 1 of 1 <br /> Contract Number:CT2019-3463 <br /> Appendix 2 <br />