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<br />-' -.;. :~-, <br />;,,/ \ <br /> <br />which amount includes feasibility report loan amount of Six Thousand Six Hundred <br />Dollars ($6,600). Interest Rate. The interest on the principal snail accrue at the rate of <br />five percent (5%) per annum on all funds advanced to CONTRACTOR during PROJECT <br />construction. Duration. The repayment period of this loan shall be forty (40) years. <br />Loan Payment. If the amount borrowed is the MAXIMUM LOAN AMOUNT, payments would <br />be made in forty (40) annual installments of Twenty Two Thousand Five Hundred Thirty- <br />Nine Dollars and Eight Cents ($22,539.08), which amount is principal and interest. The <br />first installment shall be due and payable on the first day of the month following the <br />month that the STATE declares that the PROJECT has been substantially completed, and <br />yearly thereafter until the entire principal sum and any accrued interest shall have been <br />paid. Installment payments are to be made payable to the CWCB at the address given <br />below. Prepayment conditions. The BORROWER may prepay all or any of the loan at any <br />time, without penalty. These payments will be applied first to any accrued interest and <br />then to reduce the principal amount. <br /> <br />c. Replace paragraph 0.1 with the following: <br /> <br />0.1. Loan to the CONTRACTOR for the construction of the PROJECT an amount not to <br />exceed the MAXIMUM LOAN AMOUNT. Said loan shall be made available to the <br />CONTRACTOR in accordance with the following terms and conditions: <br /> <br />d. Replace paragraph J with the following: <br /> <br />J. Upon completion of repayment to the STATE of the amount loaned and any accrued <br />interest, as set forth in paragraph B.13 above, the STATE agrees to convey to the <br />CONTRACTOR all of the State's right, title, and interest in and to the PROJECT and any other <br />property described in paragraph B. 14 above by deed or other proper conveyance. <br /> <br />e. Append paragraph N with the following two paragraphs: <br /> <br />The CONTRACTOR will, within thirty (30) days prior to the end of the fourth year that the <br />. ORIGINAL CONTRACT is in.effect and every five (5) years thereafter, deliver to the STATE. <br />a fully and. properly' executed Continuation Statement (Form UCC-3) of the security <br />interest (UCC Security Agreement and Financing Statement) required by the ORIGINAL <br />CONTRACT. <br /> <br />The MAXIMUM LOAN AMOUNT and payment thereof was addressed by the CONTRACTOR'S <br />Resolution, attached hereto as ATTACHMENT 4, whereby the new loan amount was <br />approved by a majority vote of the electorate of the District held on June 6, 1995. <br /> <br />f. Paragraph R is deleted and all following paragraphs renumbered beginning with R. <br /> <br />4. Except for the Special Provisions of the ORIGINAL CONTRACT, in the event of any conflict, <br />inconsistency, variance, or contradiction between the provisions of this Amendment and any of its <br />attachments or exhibits, and any of the provisions of the ORIGINAL CONTRACT, this Amendment shall in all <br />respects supersede, govern, and control. The Special Provisions shall always be controlling over other <br />provisions in the contract or amendments, The factual representations in the Special Provisions <br />concerning the absence of bribery or corrupt influences and personal interest of STATE employees are <br />presently reaffirmed. <br /> <br />5. Financial obligations of the STATE payable after the current fiscal year are contingent upon <br />funds for that purpose being appropriated, budgeted, and otherwise made available. <br /> <br />JUlESBURG IRRIGATION DISTRICT <br /> <br />Page 3 of 4 <br /> <br />CONTRACT AMENDMENT #1 <br />