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<br />" <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />ROUTING NUMBER: 00059 <br /> <br />Con t r act A men d men t No. 2 <br /> <br />THIS AMENDMENT, made this 151 day of March 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 (CWCB), hereinafter referred to as the STATE, and the Julesburg <br />Irrigation District, 315 Cedar Street, Julesburg, CO 80737, hereinafter referred to as the <br />CONTRACTOR. <br /> <br />Factual Recitals <br /> <br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise <br />made available and a sufficient unencumbered balance thereof remains available for <br />payment in Fund Number 462, Appropriation Code 323, Contract Encumbrance Number <br />C153604. <br /> <br />B. Required approval, clearance, and coordination has been accomplished from and with <br />appropriate agencies. <br /> <br />C. The State and the Contractor entered into a Project Contract and Promissory Note dated <br />January 27, 1992, Contract Encumbrance Number C153604, and amended on December <br />26, 1995, hereinafter referred to as Original Contract, incorporated herein by reference, <br />wherein the Stat9 agreed to loan money in the total amount of $386,750 at an interest <br />rate of 5% per annum for a duration of 40 years, and the Contractor agreed to repay the <br />loan in accordance with the terms of the Original Contract. <br /> <br />D. At its November 20, 2000 meeting, the CWCB approved the refinancing of the Original <br />Contract to reduce the interest rate to 3.5% and the repayment term to 30 years due to <br />significant and unexpected financial difficulties the BORROWER has encountered. <br /> <br />E. The parties agree to amend the contract to document the revisions to the interest rate <br />and loan duration. <br /> <br />NOW THEREFORE, it is hereby agreed that <br /> <br />1. Consideration for this Amendment to the Original Contract consists of the payments <br />which shall be made pursuant to this Amendment and the Original Contract, as amended, <br />and the promises and agreements herein set forth. <br /> <br />2. It is expressly agreed by the parties that this Amendment is supplemental to the Original <br />Contract, as amended, and all terms, conditions, and provisions thereof, unless <br />specifically modified herein, are to apply to this Amendment as though they were <br />expressly rewritten, incorporated, and included herein. <br /> <br />Page 1 of 3 <br />