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<br />- <br />, . <br /> <br />'" <br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: PDA <br />RDUTING NUMBER: n:1 jJ(),q (j eX> I{ r <br /> <br />CON T RAe TAM END MEN T No.4 <br /> <br />THIS AMENDMENT, made this 151 day of November 2001, by and between the State <br />of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water <br />Conservation Soard ("CWCS" and/or "STATE"), and The San Luis Valley Irrigation District, 296 <br />Miles Street, Center, Colorado 81125 ("CONTRACTOR"). <br /> <br />FACTUAL RECITALS <br /> <br />1. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise <br />made available and a sufficient unencumbered balance thereof remains availabie for <br />payment in Fund Number 424, Contract Encumbrance Number C153478. <br /> <br />2. Required approval, clearance, and coordination has been accomplished from and with <br />appropriate agencies. <br /> <br />3. The CWCS and the CONTRACTOR entered into a contract dated November 14, 1986, <br />Contract Encumbrance Number C153478, as amended on May 11, 1987, April 26, 1988, <br />and April 24, 1989, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein by <br />reference, wherein the CWCS agreed to loan money in the total amount of $526,087.45, <br />and the CONTRACTOR agreed to repay the loan in accordance with the terms of the <br />ORIGINAL CONTRACT. <br /> <br />, , - -4'. Section 3T-6~12CJ(3f,C:R:s:;-aatl1orizes tne-CWCS-to aefer an-annuanbal1 paymennf;in <br />the CWCS's opinion, the entity requesting such deferral demonstrates that it has <br />encountered significant and unexpected financial difficulties and that it has been duly <br />diligent in its efforts to comply with the repayment provisions of its contract with the <br />CWCS. <br /> <br />5. The CONTRACTOR submitted a letter dated September 24, 1999, which describes the <br />significant and unexpected economic losses suffered by the CONTRACTOR and its <br />landowners during 1999 due to high releases of water from the Rio Grande Reservoir that <br />damaged-the-outlet-works; - ,Said-letter-requested-that-the-8ecember--1999 and- 20e0-1oan <br />payments be deferred until December 2001. <br /> <br />6. The CWCS has reviewed the situation described by the CONTRACTOR and is satisfied that <br />CONTRACTOR encountered significant and unexpected financial difficulties, and that it has <br />been duly diligent in its efforts to comply with the repayment provisions of the ORIGINAL <br />CONTRACT. <br /> <br />7. At its November 22-23, 1999 meeting, the C\iVCB approved deferral of the 1999 and 2000 <br />payments, pursuant to !l 37-60-120(3), C.R.S., to December 2001, with the interest <br />accruing during the deferral added to the principal loan amount and the loan reamortized <br /> <br />Loan Contract Amendment NO.4 <br /> <br />Page 1 of 3 <br /> <br />San Luis Valley Irrigation District <br />