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• <br /> APPENDIX 2,SAMPLE OPTION LETTER <br /> (TO BE USED AT SUBSTANTIAL COMPLETION OF PROJ4CT) <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 /> Arabian Acres Metropolitan District, CMS 117476 <br /> acting by and through the water activity enterprise CT2019-2792 <br /> c/o Kevin Walker,AAMD District Mgr. <br /> Walker Schooler District Managers <br /> 614 Tejon St.,Colorado Springs,CO 80903 <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 <br /> Notice of Project Substantial Completion. <br /> 2. REQUIRED PROVISIONS: <br /> a. The amount of the current Loan Contract Amount is decreased by($amount of change)from <br /> $ to$ in consideration of substantial completion of the Project.The <br /> 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 <br /> this 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 Cover Page is hereby deleted and <br /> 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 Cdntroller or an authorized <br /> delegate. <br /> In accordance with §24-30-202,C.R.S.,this Option is <br /> STATE OF COLORADO not valid until signed and dated below by the State <br /> Jared Polis,Governor Controller or an authorized delegate. <br /> Department of Natural Resources STATE CONTROLLER <br /> Colorado Water Conservation Board Robert Jaros,ICPA,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:CT2019-2792 <br /> Appendix 2 <br />