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<br />CK SI8S)
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<br />DEPARTMENT OR AGENCY NUMBER
<br />PDA
<br />CONTRAC I ll.OllTING NUMBER
<br />q;)../O"l
<br />Reduce Enc. $ 5,600
<br />Total Enc. 80,000
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<br />~::t:l
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<br />WIPB
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<br />AMENDMENT NO. 2
<br />PROJECT
<br />CONTRACT
<br />and Promissory Note
<br />THIS CONTRACT. made this ~ day of 0-"'$" - ~
<br />State of Colorado for the use and benefit of tile Department of ., Natural
<br />(COlorado Water Conservation Board) ,
<br />hereinafter l'E'{erred to as the Slale.:md .2 the Morrison Consolidated
<br />10914 Hiqhway 172, Iqnacio, CO 81137,
<br />h~reinDfter referred 10 as Ihe contractor.lContractoror Borrower,
<br />
<br />9 >2:1J :i,,!:~'
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<br />19 91 ,by and between (he
<br />Resources
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<br />Ditch Company,
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<br />WHEREAS. authorily exists in the Law and Funds have been budgeled. appropriated and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in Fund Number 462
<br />Approp. 366, Org. Unit YYYY, Program WTRC,
<br />ContractJrnc.No. C - ~ t;;; 7/ ;-ancf
<br />WHEREAS. re~uircd arpwval..clellr:mce and coordination has been accomplished from and with appropriafe
<br />agencies: and
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<br />WHEREAS, the State and the contractor entered into a contract
<br />dated February 8, 1990, Contract Encumbrance Number C-153571,
<br />Routing Number 90330 (hereinafter the Original Contract); and
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<br />WHEREAS, the Contractor subsequently asked for an increase to
<br />the encumbrance in the Original contract; and
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<br />WHEREAS, the state agreed that the encumbrance increase was
<br />justified; and
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<br />WHEREAS, the state and the Contractor entered into an amended
<br />contract dated September 13, 1990, Contract Encumbrance Number C-
<br />153571, Routing Number 91214 (hereinafter Contract Amendment No.
<br />1); and
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<br />WHEREAS, the contractor has managed to pay all of its
<br />obligations for the construction of the project without benefit
<br />of the state funds encumbered by contract Amendment No.1.
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<br />NOW THEREFORE, it is hereby agreed as follows:
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<br />1. Consideration for this amendment to the Original contract
<br />consists of the promises and agreements herein set forth.
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<br />2. This contract amendment is a supplement to the Original
<br />Contract and to the Contract Amendment No.1,
<br />collectively attached hereto as Appendix A, which by this
<br />reference is incorporated and made a part hereof; and all
<br />the terms, conditions, and provisions thereof, unless
<br />specifically modified herein, are to apply to this
<br />contract amendment as though they were expressly
<br />rewritten, incorporated, and included herein.
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<br />3. Paragraphs A.13., C.1., and I. of the Original Contract
<br />as amended by paragraph 3. of Contract Amendment No.1
<br />are hereby amended to read as follows:
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<br />A.13. Repay to the State the total principal sum of Eighty
<br />Thousand Dollars ($80,000), which includes the project loan
<br />amount with interest at the rate of five percent (5%) per annum,
<br />said repayment to be made in constant annual installments of Four
<br />Thousand six Hundred Sixty-Two Dollars and Forty Cents
<br />($4,662.40) each, for forty (40) years, as shown in Exhibit C,
<br />attached hereto and incorporated by reference herein, which first
<br />installment shall be due and payable on the first' day of the
<br />month next succeeding the month in which the State determines
<br />that the project has been SUbstantially completed, and yearly
<br />thereafter until the entire principal sum shall have been paid.
<br />However, in the event the contractor does not draw funds
<br />commencing on the date specified in paragraph C.I.a. below, the
<br />obligation to repay shall be postponed for the same number of
<br />months as the Contractor delays in drawing funds. Said
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<br />3955301-1014
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<br />Pa~e I" of 2- pages
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<br />bj103.K
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