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<br /> <br />AGENCY NAME: Water Conservation Board <br /> <br />AGENCY NUMBER: POA <br />ROUTING NUMBER: 9c;,ocJf?S j <br /> <br />Contract #C153682: $50,000 <br />Ci.:53&f",,?fJ Amendment #1: + 25.000 <br />Total Loan Amount: $75,000 <br /> <br />CON T RAe TAM END MEN T #1 <br /> <br />THIS AMENDMENT, made this .-it- day of _D-LCtmI3[L 1995, by and between the State of Colorado <br />for the uSe and bei'lefit of the Depanment of Natural Resources, Colorado W~ter Conservation Board (CVJCB~. <br />hereinafter referred to as the STATE, and CARYL R. CARROLL, P. O. Box 219. Cocoa. Florida 32923..0219, hereindfter <br />referred to "s the CllNTRAcrOR. <br /> <br />FACTUAL RECITALS <br /> <br />1.. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made availab!e and <br />a sufficient un"ncumbered baiance thereof remains available for payment in Fund Number 424. Appropriation Code SPi., <br />Contract EncumbraHce Number C153682; and <br /> <br />.1nd <br /> <br />2. Required approval clearance, and coordination has been aCGomplished from ""d with appropriate agencies: <br /> <br />3:. The STATE and the CONTRACTOR er,tered into a contract dated August 22, 1994. Contract Routing Number <br />350097, Contr~ct Encumbrance Number Cl 53682, hereinafter referred to as ORIGII~AL CONTRACT, incorporated herein <br />by reference, whllrein the STATE agree'd to It'~n money in the total amount of $50.000, and the CONTRACTOR ~gl'eed <br />to repay the loan in a"cordance With the terms of the ORIGINAL CONTRACT; and <br /> <br />4. A Small Project Loen (SPL) Account was established by ~ 37-6(1-122.7, C.R.S. iSupp. 1995), which authorizes <br />eWeB to make loans up to $100,000 without prior approval from the General Assemoly if eWCB determines that delay <br />would result in undue hardship on the borrower; and <br /> <br />5. The BORROWER applied for on additionai 10iln for the Project in the amount of $25.000; and <br /> <br />6. Because the total amount of loans for the PROJECT is less than $100,000 and bacau,e a delay of a year in <br />finishing the PRCJECT would prevent the BORROWER from filiing the Reservoir to its fuli capacity due to a storage <br />r<lstrictiun order by the State Engineer, cauRing undue hardship to the BORROWER. the Board determined that this <br />additional ioan qualified as a Smali Project Loan in accordance with ~ 37-60-122.7, C.R.S. (Supp. 19951; and <br /> <br />7. At the meeting held July 25, 1995, the Board approved e Smali Project Loan in an amount not to exceed <br />Twenty Five Thousand Doliars ($25,0001, at an interest rate of three and three-fourths percent (3.75%1 per annum. <br />and fur a duration of twenty (20) years; and <br /> <br />8. The value of the coliateral described in the ORIGINAi. CONTRACT is adequate to support a total loan amount <br />"f $75,000; and <br /> <br />9. The amount of $50,000 shali be referred to herein as ORIGINAL LOAN AMOUNT, the amount of $25,000 she.1i <br />be referred to herein as the SMALL PROJECT LOAN AMOUNT, and the amount of $75,000 shali be referred to herein as <br />the TOTAL LOAN AMOUNT. <br /> <br />CARYL R. CARROLL <br /> <br />Page 1 of 3 <br /> <br />CONTRACT AMENDMENT <br />