PROJ00153

• Contract/PO #: C153389
• Contractor Name: Kern Reservoir and Ditch Company
• Contract Type: Loan
• Water District: 3
• County: Weld
• Bill Number: SB 81-439
• Loan Projects - Doc Type: Contract Documents

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WHEREAS, the Contractor never did request any additional funding from the
State, but did start repaying the State Five Thousand'Three Hundred Twenty-One
Dollars ($5,321) a year on the One Hundred Twenty-Three Thousand Dollars ($123,000)
loan as specified in the Original Contract; and

WHEREAS, the Contractor has continued to make Five Thousand Three
Hundred Twenty-pne Dollars ($5,321) payments to the State for nine (9) years without
ever asking the State for any additional funds; and

WHEREAS, the Contractor has informed the State that it will not require any
more funds on this project; and

WHEREAS, the Original Contract now needs to be amended to adjust the terms
for the remaining payments required of the Contractor on the Eighty-Two Thousand
Nine Hundred Sixty-Seven Dollars and Twenty-Three Cents ($82,967.23) loan,

NOW TIIEREFORE, it is agreed that:

1. Consideration for this amendment to the Original Contract consists of the
payments which shall be made pursuant to this amendment and the promises and
agreements herein set forth. This consideration shall constitute all final payments due to
the Contractor for the construction of the project.

2. This contract amendment is a supplement to the Original Contract,
attached hereto as Appendix A, which is by reference incorporated herein and made a
part hereof. All terms, conditions and provisions of the Original contract unless
specifically modified herein, shall apply 10 this contract amendment as though they were
expressly rewritten, incorporated and included herein.

3. The only modifications, alterations or changes in the Original Contract
shall be revised to read as follows.

A

12, Purchase from the State all of the State's right, title, and interest in
said project at a total purchase price of One Hundred Fourteen Thousand
Eight Hundred Seventy-Three Dollars and Forty-Seven Cents ($114,873.47)
payable in twenty-one (21) annual installments of Five Thousand Three
Hundred Twenty-One Dollars ($5,321) each and one final installment of .
Three Thousand One Hundred Thirty-Two Dollars and Forty-Seven Cents
($3,132.47), The Contractor has paid the first nine (9) annual installments
of Five Thousand Three Hundred Twenty-One Dollars ($5,321) and the
tenth installment will be due on September 1, 1993, All remaining
installments shall be made payable to the Colorado Water Conservation
Board at Ihe offices of said Board in Denver, Colorado.

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