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'~:D ..- .. '......" 1. Consideration for this amendment to the Original Contract, Contract Encumbrance Number C-15360, Routing Number 92345 dated January 21, 1992, consists of the payments which shall be made pursuant to this amendment and the promises and agreements herein. 2. This Contract Amendment No.1 is a supplement to the Original Contract included as Attachment A which is incorporated herein and all the terms, conditions, and provisions thereof, unless specifically modified herein, are to apply to this contract amendment as though they were expressly rewritten, incorporated and included herein. 3. The loan security of the Erie "Public Works Fund" is expressly extended to this contract amendment. 4. The project cost increases were calculated using the Engineering News Record cost indicies for January 1981 and October 1993 included as Attachment F incorporated herein. 5. Paragraphs A.5.,A.13, and B.1. are hereby amended to read as follows: A.5.. Contract for the construction of said project to a responsible and capable firm or firms (hereinafter referred to as Construction Firm or Firms), which Construction Firms shall, when required by the State, be selected through competitive public bidding, said project to be completed on or before December 31, 1994, in accordance with the project plans and specifications and any necessary modifications thereof approved by the State. A.13. Repay to the State the total project loan principal for the design and construction of this project, in the amount of Four Hundred Ninety-Eight Thousand Five Hundred Twelve Dollars ($498,512),for a total principal repayment cost not to exceed Four Hundred Ninety-Eight Thousand Five Hundred Dollars ($498,512), plus accumulated interest calculated using accepted accounting principles at a rate of two percent (2%) per annum, said repayment to be made in constant annual installments for a period of forty (40) years. a. For the total principal repayment cost of Four Thousand Ninety-Eight Thousand Five Hundred Dollars ($498,512), the annual payment of principal and interest shall be Eighteen Thousand Two Hundred Twenty- Three and Forty-Eight Cents Dollars ($18,223.48) each year for (40) years, as shown in Attachment G, which is incorporated herein, which first installment shall be due and payable the first day of the month next succeeding the month in which the State determines that the project has been substantially completed, and Page ~ of ~ pages