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AGENCY NAME: Water Conservation Board AGENCY NUMBER; PDA ROUTING NUMBER: 02 PDA �('jOS .Z CONTRACT AMENDMENT NO. 1 THIS AMENDMENT, made this 1S� day of February 2002, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board, hereinafter referred to as the GWCB and/or STATE, and the Boulder and Left Hand Irrigation Company, hereinafter referred to as th2 BORROWER 811di0� CONTRACTOR. Factual Recitals A. Authority exists in the law, and funds have been budgeted, appropriated, and othenvise made available and a sufficient unencumbered balance thereof remains available for payment under Contract Encumbrance Number C150009. B. Required approval, clearance, and coordination has been accomplished from and with appropriate agencies. C. The State and the Contractor entered into a contract dated May 8, 2000, Contract Encumbrance Number C150009, hereinafter referred to as the Original Contract and incorporated herein by reference, wherein the State agceed to 4oan money in the total amount of $100,000 and the Contractor agreed to repay the loan in accordance with the terms of the Original Contract. D. The Contractor has submitted a request that the property originally pledged as collateral for the loan, Twin Lakes Dam and Reservoir, be released and substitute Gqll2te�31 b@ tak�� av �h� CW�� ?g sec�rity f�r tha Ip?n. 7ha C�nntrar_.tnr hag arranged for the sale of its surface rights at Twin Lakes to Boulder County Parks and Open Space. The CWCB approved the loan with the requirement that the Contractor provide collateral in the form of "... real property of value equal to the ioan amount." The Contractor has offered Hayden Lake property as substitute collateral. The CWCB has determined that the value of the Hayden Lake property exceeds the loan amount and therefore would satisfy the CWCB collateral requirements. E. The parties agree to amend the contract to substitute the collateral.