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<br />AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: 9 tOloot.f
<br />
<br />CON T RAe TAM END MEN T #1
<br />
<br />
<br />THIS AMENDMENT, made this c:{ '1 day of [h1rnN j{ 1995, by and between the State of Colorado
<br />for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board (CWCB),
<br />hereinafter referred to as the STATE, and BEAVER RESERVOIR COMPANY, 14044100 Road, Paonia, Colorado 81428,
<br />hereinafter referred to as the CONTRACTOR.
<br />
<br />FACTUAL RECITALS
<br />
<br />1. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and
<br />a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Appropriation Code
<br />501, Contract Encumbrance Number C153709; and
<br />
<br />2. Required approval, clearance, and coordination has been accomplished from and with appropriate agencies;
<br />
<br />and
<br />
<br />3. The STATE and the CONTRACTOR entered,lPto a contract dated October 12, 1995, Contract Routing Number
<br />960150, Contract Encumbrance Number C1537~, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein
<br />by reference, wherein the STATE agreed to loan money in the total amount of $373,000, and the CONTRACTOR agreed
<br />to repay the loan in accordance with the terms of the ORIGINAL CONTRACT; and
<br />
<br />4. The BORROWER applied to the STATE for a loan in the amount of $373,000, to be applied as follows: $343,000
<br />to rehabilitate the Beaver Reservoir da'in, and $30,000 to payoff the BORROWER'S three existing FmHA loans; and
<br />
<br />5. As of October 18, 1995, the payoff amount of the three FmHA loans, including accrued interest, totalled
<br />$32,837.40 ,with interest accruing at the rate of $4.31 per day; and
<br />
<br />6. Because the collateral given for the State's $373,000 loan to the Contractor also was given as collateral for
<br />the Contractor's FmHA loans, the Board intended that the FmHA loans would be paid in full in order to secure the
<br />collateral given for the $373,000 loan; and
<br />
<br />7. The parties desire to amend the wording in the ORIGINAL CONTRACT to indicate use of approximately $30,000,
<br />instead of up to $30,000, of the loan funds to payoff the CONTRACTOR'S FmHA loans in full so that the STATE'S loan
<br />to the CONTRACTOR is adequately secured.
<br />
<br />NOW THEREFORE, it is hereby agreed that
<br />
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be made
<br />pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements herein set forth.
<br />
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT, and all
<br />terms, conditions, and provisions thereof, unless specifically modified herein, are to apply to this Amendment as though
<br />they were expressly rewritten, incorporated, and included herein.
<br />
<br />3. It is agreed the ORIGINAL CONTRACT is and shall be modified, altered, and changed in the following respects
<br />only:
<br />
<br />a. Recital 7 is amended to read:
<br />
<br />Beaver Reservoir Company
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<br />CONTRACT AMENDMENT
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