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<br />" <br /> <br />NOW THEREFORE, it is hereby agreed that: <br /> <br />1. This contact amendment is a supplement to the Original <br />Contract dated November 14. 1986 (Appendix A). and the Contract <br />Amendments dated May 11. 1987. and April 26. 1988 (Attachments <br />A and D. respectively), which are by this reference incorporated <br />and made a part hereof. and all the terms. conditions and <br />provisions thereof. unless specifically modified herein. are to <br />apply to this contract amendment as though they were express~y <br />rewritten. incorporated. and included herein. <br /> <br />2. The only modifications. alterations or changes in <br />Attachment D shall be that paragraphs A.ll. and I. shall be <br />deleted and in their place shall be inserted the fOllowing <br />substitute paragraphs: <br /> <br />A.II. Repay to the State the total sum of One Million <br />Two Hundred Forty-Seven Thousand Six Hundred Sixty-One <br />Dollars and Thirty-Nine Cents ($1,247,661.39), which <br />includes the project loan amount and interest at the rate <br />of five percent (5\) per annum. said repayment to be made <br />in one (1) annual installment of Twenty-Seven Thousand One <br />Hundred Forty-Three Dollars and Eight Cents ($27.143.08) <br />for the first year; thirty-nine (39) annual installments of <br />Thirty Thousand six Hundred Sixty Dollars and Thirty-Seven <br />Cents ($30.660.37) each; and one last installment of <br />Twenty-Four Thousand Seven Hundred Sixty-Three Dollars and <br />Eighty-Eight Cents ($24.763.88) to be made on the <br />forty-first (41st) year all as shown in Attachment B-1. <br />attached hereto and incorporated by reference herein. The <br />first installment therein shall be due and payable on the <br />first day of the month next succeeding the month in which <br />the State determines that the project has been <br />substantially completed. and yearly installments thereafter <br />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. <br />the Obligation to repay shall be postponed for the same <br />number of months as the Contractor delays in drawing <br />funds. Said installment payments shall be made payable to <br />the Colorado Water Conservation Board. payable at the <br />offices of said Board in Denver. Colorado. The Contractor <br />warrants that it has taken all steps necessary to create a <br />valid first lien in favor of. the State and to constitute <br />this contract as fully enforceable against the Contractor. <br /> <br />I. Upon completion of the repayment to the State in <br />the sum of One Million Two Hundred Forty-Seven Thousand six <br />Hundred Sixty-One Dollars and Thirty-Nine Cents <br />($1.247.661.39). as set forth in paragraph A.ll. of this <br />contract, the State agrees to release to the Contractor all <br />of the State1s right. title. and interest in and to the <br />project and any other property described in paragraph A.5. <br />by appropriate and proper conveyance. <br /> <br />3. In the event of any conflict. inconsistency. variance. <br />or incongruity between the provisions of this contract <br />amendment and any of the provisions of the Original Contract. <br />the provisions of this contract amendment shall in all respects <br />supersede. govern. and control. <br /> <br />----~ <br />----- <br />-- <br />~ <br />--~--------- <br /> <br />~ <br />-----~ <br /> <br />Page ~ of i pages <br />