PROJ00054

• Contract/PO #: C153473
• Contractor Name: Stewart Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: EO 08-08-86
• Loan Projects - Doc Type: Contract Documents

.Form 6-AC.o2A (R ~J8~l
WFRPB

DEPAlo.

...

CONTRACT ROUTINe NUMBER
. :'7\'1(
Reduce encumbrance
PROJECT FROM: $240,000.00
CONTRACT AMENDMENT TO: 13 7,132.94

THIS CONTRACT, made this.;I, 71tv day of ~v<a~ 198 ?l. by and between the
State of Colorado for the use and benefit of tile Dera lent of 'I Natural Resources
(Colorado Water conservation Board).
hereinafter (('ferred to as the State. and.2 the Stewart Ditch and Reservoir Com~
P. 0, Box 386. paonia. CO 81428.
hereinafter referred to a!> the contractor/Contractor.

WHEREAS. authority e'lists in the Law and Funds have been budgeted. appropriated and otherw3e made
avaihlble and a sufficient unencumbered balance Ihereof remains available for payment in Fund Number 4 08 .
G/l ACcount Number 504 5X . Contract Encumbrance Number C1534 7 3: and
ABL Account Numbe~ 10450, Org. Unit 77-77-777,
WHEREAS. re4uired approval. clearance and coordination has been accomplished from and Wilh appropriate
agencies: and

WHEREAS. the State and the Contractor did on September 15,
1986. enter into a contract for State participation in the
repairs of the irrigation system of the Stewart Ditch ana
Reservoir Company in Delta County. COlorado; and

WHEREAS. the cost of construction of the pr~ject waS less
than what was originally estimated;

NOW. THEREFORE. in consideration of the mutual and
dependent covenants herein contained, it is agreed by the
parties hereto as follows:

1. The terms and provisions of paragraphs A.II.. C.l. and
I. of that certain contract dated September 15. 1986. attached
hereto as Attachment A and incorporated by reference herein.
shall no longer be effective. All other terms and prOVisions
of that certain contract dated September 15. 1986. shall remain
in full force and effect.

2. Paragraphs A.ll.. C.I. and I. are hereby amended to
read as follows:

A.Il. Repay to the State the total principal sum of
Three Hundred Nineteen Thousand Six Hundred
Seventy-rour Dollars and Forty Cents ($319,674,40).
which inClUdes the project loan amount and the
feasibility report amount. together with interest at
the rate of five percent (5\) per annum. said
repayment to be made in constant annual installments
of Seven Thousand Nine Hundred Ninety-One Dollars and
Eighty-six Cents ($7.991.86) each. for forty (40)
years. a6 shown in Attachment B. attached hereto and
incorporated by reference herein. whiCh first
installment shall be due and payable on the first day
of the month next succeeding the month in which the
State determines that the project has been
substantially completed. and yearly thereafter until
the entire principal sum shall have been paid.
However, in the event the Contractor does not draw
funds coromencinq on the date specified in paragraph
C.I.a. below. the obligation to repay shall be
postponed for the same number of months as the
Contractor delays in drawing funds. Said installment
payments shall be made payable to the Colorado Water
Conservation Board. payable at the offices of said
Board in Denver. Colorado. The Contractor pledges its
full faith and credit in support of this obligation
and warrants that it has taken all steps necessary to
pledge its full faith and credit for this Obligation.

5667E

:J95-5}{}'}o1014

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