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<br />AGENCY NAME: WATER CONSERVATION BOARD
<br />AGENCY NUMBER: PDA
<br />
<br />ROUTING NUMBER: q q - 000'-( 'I
<br />
<br />CON T RAe TAM END MEN T No. 1
<br />
<br />THIS AMENDMENT, made this 1st day of April 1999, by and between the State of Colorado for
<br />the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board
<br />(CWCB), hereinafter referred to as the STATE, and THE NEW CACHE LA POUDRE IRRIGATION COMPANY,
<br />hereinafter referred to as the CONTRACTOR.
<br />FACTUAL RECITALS
<br />
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br />Number 424, Appropriation Code 445, Contract Encumbrance Number C153639L; and
<br />B. Required approval, clearance, and coordination has been accomplished from and with appropriate
<br />agencies; and
<br />C. The STATE and the CONTRACTOR entered into a ccntract dated July 29, 1993, Contract
<br />Encumbrance Number C 153639L, hereinafter referred to as ORIGINAL CONTRACT, incorporated
<br />herein by reference, wherein the STATE agreed to loan money in the total amount of $700,000
<br />($690,422.50 for ccnstruction of the project and $9,577.50 for a feasibility report), and the
<br />CONTRACTOR agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT; and
<br />D. The Contractor borrowed only $450,000 out of the $700,000 authorization.
<br />
<br />E. The project was substantially complete as of May 1, 1995, and the Contractor has been making
<br />timely payments since June 1, 1995.
<br />F. The parties agree to amend the contract to reflect the actual loan amount and the annual payment
<br />due date.
<br />NOW THEREFORE, it is hereby agreed that
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall
<br />be made pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements
<br />herein set forth.
<br />2, It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL
<br />CONTRACT, and all terms, conditions, and provisions thereof, unless specifically modified herein,
<br />appiy to this Amendment as though they were expressly rewritten, incorporated and included herein,
<br />3, It is agreed the ORIGINAL CONTRACT is and shall be modified, aitered, and changed in the following
<br />respects only:
<br />a. Paragraph A.13 is replaced by a separate Promissory Note, attached as Attachment A and
<br />incorporated herein.
<br />b, Paragraph J is replaced with the following:
<br />Upon complete repayment of the principal and interest to the State, the State agrees to convey
<br />to the Contractor all of the State's right, title, and interest in and to the project and any other
<br />property held as security for the repayment of the loan.
<br />c. Paragraph N, The Uniform Commercial Code Security Agreement and Financing Statement,
<br />attached to the Original Contract as Exhibits G and H, are replaced by the Amended Security
<br />Agreement, attached, hereto as Attachment B and incorporated herein. The parties
<br />acknowledge that the State shall file a UCC Financing Statement with the Secretary of State to
<br />perfect its security interest in the revenues pledged,
<br />
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