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<br />',. <br /> <br />,> <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: 0:2 jJ, <br /> <br /> <br />CON T RAe TAM END MEN T No.2 <br /> <br />THIS AMENDMENT, made this 15t day of November 2001, by and between the State of <br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Board ("CWCS" and/or "STATE"), and The San Luis Valley Irrigation District, 296 <br />Miles Street, Center, Colorado 81125 ("CONTRACTOR"), <br /> <br />FACTUAL RECITALS <br /> <br />1, Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made <br />available and a sufficient unencumbered balance thereof remains available for payment in <br />Fund Number 424, Contract Encumbrance Number C153386; and <br /> <br />2. Required approval, clearance, and coordination has been accomplished :from and with <br />appropriate agencies; and <br /> <br />3. The CWCS and the CONTRACTOR entered into a contract dated June 1, 1982, Contract <br />Encumbrance Number C153386, as amended on August 15, 1986, hereinafter referred to as <br />ORIGINAL CONTRACT, incorporated herein by reference, wherein the CWCS agreed to grant <br />and loan money in the total amount of $1,134,500, and the CONTRACTOR agreed to repay the <br />loan in accordance with the terms of the ORIGINAL CONTRACT. <br /> <br />-'---4~Secllon 37:6(J-f20-(3J;--C~RS., authorizes tneCWCBlOclefer an annuai loan payment if, In <br />the CWCS's opinion, the entity requesting such deferral demonstrates that it has encountered <br />significant and unexpected financial difficulties and that it has been duly diligent in its efforts to <br />comply with the repayment provisions of its contract with the CWCB. <br /> <br />5, The CONTRACTOR submitted a letter dated September 24, 1999, which describes the <br />significant and unexpected economic losses suffered by the CONTRACTOR and Its <br />shareholders during 1999 due to high releases of water from the Rio Grande Reservoir tt\at <br />damaged the outlet works. Said letter requested that the August 2000 loan payment in the <br />amount of $30,014.20 be ~eferred for one year until August 2001. ' <br /> <br />6. The CWCS has reviewed the situation described by the CONTRACTOR and is satisfied that <br />CONTRACTOR encountered significant and unexpected financial difficuities, and that it has <br />been duly diligent in its efforts to comply with the repayment provisions of the ORIGINAL <br />CONTRACT. <br /> <br />7. At its November 22-23, 1999 meeting, the CWCS approved deferral of the 2000 payment, <br />pursuant to S 37-60-120(3), CRS" for one year, with the interest accruing during the deferral <br />added to the principal loan amount and the loan reamortized based on the 5% per annum <br />interest rate and 25 years remaining on the term of the loan. <br /> <br />8. The Originai Contract provided for a loan from the CWCB to the Contractor in the amount of <br /> <br />Loan Contract Amendment No.2 <br /> <br />Page 1 of 3 <br /> <br />San Luis Valley Irrigation District <br />