|
promises and agreements herein set forth.
<br /> 2. It is expressly agreed by the parties that this Amendment is supplemental to the
<br /> ORIGINAL CONTRACT, 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 /> 3. The BORROWER agrees that it shall execute the following documents, all of which shall
<br /> set forth the loan amount of $125,000:
<br /> a. Promissory Note, attached as Appendix B and incorporated herein, which shall
<br /> replace and supersede the Promissory Note provision A.11 of the ORIGINAL
<br /> CONTRACT in the amount of $125,000 dated August 1, 1985. As of the date of
<br /> June 30, 2011, the remaining principal balance for this loan is $75,614.63.
<br /> b. Amended Deed of Trust, attached to Loan Contract C153742 Amendment No. 2
<br /> as Appendix B-1 and incorporated herein, which shall supplement and operate in
<br /> conjunction with the Deed of Trust dated October 23, 1996, and previously
<br /> amended on April 1, 1997, originally attached to Loan Contract C153742 as
<br /> Appendix C.
<br /> 4. CWCB agrees that it shall execute the Bargain and Sale Deed, attached as Appendix
<br /> C.
<br /> 5. The Contract is amended by the addition of the following: Contract Amendment
<br /> Service Fees. Under certain circumstances, the BORROWER shall be assessed a
<br /> fee for amending the contract.
<br /> a. A service fee shall be imposed on the BORROWER for amendments processed for
<br /> the benefit of the BORROWER and necessary for the BORROWER'S course of
<br /> business, including, but not limited to, a change in borrower name (novation),
<br /> assignment of contract, substitution of collateral, loan payment deferments in
<br /> excess of 3 per loan, and loan consolidation. Amendments in the course of
<br /> CWCB business, including, but not limited to, loan payment deferments (up to 3
<br /> per loan) and changes in terms of loan repayment will be processed at no
<br /> additional charge to the borrower.
<br /> b. The amount charged shall be the fee rate structure in accordance with the
<br /> CWCB Loan Service Charge Policy in effect at the time the BORROWER shall
<br /> request an amendment. The current fee for an amendment is $1,000.
<br /> c. The BORROWER shall remit the service fee to the CWCB prior to initiation of the
<br /> amendment. Any service fee remitted to the CWCB cannot be refunded.
<br /> 6. Indemnification — General: Borrower shall indemnify, save, and hold harmless the
<br /> State, its employees and agents, against any and all claims, damages, liability and
<br /> court awards including costs, expenses, and attorney fees and related costs,
<br /> incurred as a result of any act or omission by Borrower, or its employees, agents,
<br /> Sub-contractors, or assignees pursuant to the terms of this contract; however, the
<br /> provions hereof shall not be construed or interpreted as a waiver, express or
<br /> implied, of any of the immunities, rights, benefits, protection, or other provisions, of
<br /> the Colorado Governmental Immunity Act, CRS §24-10-101 et seq., or the Federal
<br /> Tort Claims Act, 28 U.S.C. 2671 et seq., as applicable, as now or hereafter
<br /> amended.
<br /> Page 2 of 6
<br />
|