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NOW THEREFORE, it is herebl~0~jd that 1. Consideration for this Amendment to ttie'08IGINAL CONTRACT consists of the payments which$hall be made pursuant to this Amendmeritand ORIGINAL CONTRACT arid the promises and a9reements herein set forth.' 2. It is expressly agreed by the parties that this ArT1endment is supplemental to the ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless specificallY modified herein, are to apply to this Amendment as though they were expressly rewritten, incorporated, and included herein. 3. It is agreed the ORIGINAL CONTRACT is and shall I:>e modified, altered, and changed in the following respects only: a. Paragraph A.7 Promissory Note Provisions is appended by the foliowin9: The above conditions apply specifically to the ORIGINAL LOAN AMOUNT. The following Promissory Note Provisions apply to the SMALL PROJECT LOA/'! AMOUNT. g. Principal amount. The principal amount shall be the total amount of funds advanced by the STA TE to the BORROWER under the terms of this contract, not to exceed the SMALL PROJECT LOAN AMOUNT of $25,000. ..,. Interest rate. The interest on this principal amount shall accrue at the rate of three and three-fourths percent 13.75%1 per annum on all SMALL pROJECT LOAN AMOUNT funds advanced to BORROWER during PROJECT construction. i. Duration. The lepayment periOd of this SMALL PROJECT LOAN AMOUNT shall be twenty 1201 years. j. Loan payment. If the amount borrowed is the SMALL PROJECT LOAN AMOUNT, payments would be made in twenty 120; annual installments of One Thousand Seven Hundred and Ninety-Nine Dollars and Five Cents 1$1,799.051, which amount is prinCipal and interest. The first installment shall be due and payable on the first day of the month, one year after the STA TE declares that the PROJECT has been substantially completed, and yearly thereafter until the entire principal sum and any accrued interest shall . have been paid. Installment payments are to be made payable to the CWCB at the address given herein. k. Interest during construction. The BORROWER shall repay to the STA TE interest accrued on the SMALL PROJECT LOAN AMOUNT advances made' during construction which will be calculated at the rate of three and three-fourths percent 13.75%1 per annum on each advance disbursed to the BORROWER made during construction. The interest accumulated during construction shall be paid to the STATE as a single IlImp sum on the first day of the month following the month that the STA TE declares that the PROJECT has been substantially completed. The actual interest which will accumulate during construction is unknown and cannot be calculated until the conclusion of construction. I. Prepayment conditions. The BORROWER may prepay all or any of the loan at any time, without penaltv. These payments will be applied first to any accrued interest and then to reduce the principal amount. The parties agree that loan lund advances made to the BORROWER during construction shall be first from the ORIGINAL LOAN AMOUNT of $50,000 and such advances shall accrue interest at the rate of 2%. When the ORIGINAL LOAN AMOUNT exhausted, the loan advances will be made from the SMALL PROJrCT LOAN AMOUNT of $25,000 and such advances shall accrue interest at the rate of 3. 75%. d. Paragraph 8. Security for loan is amended by replacing the first sentence with the followin9: The security provided for the TOTAL LOAN AMOUNT of $ 75,000 shall be the tollowing: e. Paragraph 8 Security for loan is appended by the following: A revised deed of trust, attached hereto as A TTA CHMENT 1 and incorporated herein, wryich reflects the TOTAL LOAN AMOUNT hereby replaces the deed of trust referred to as APPENDIX A in the ORIGINAl. CARYL R. CARROLL Page 2 of 3 CONTRACT AMENDMENT