C153701 Contract

• Contract/PO #: C153701
• Contractor Name: Fort Morgan, City of & Fort Morgan Water Works and Distribution Enterprise
• Contract Type: Loan
• Water District: 1
• County: Weld
• Bill Number: SB94-029
• Loan Projects - Doc Type: Contract Documents

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Works and Distribution Enterprise and Bank One, Colorado: N.A. (''Trust Indenture"), the
STATE executed a Consent to Issuance of Parity Bonds on December 16, 1997. On.
December 16, 1997, the BORROWER issued the 1997 Bonds.

NOW THEREFORE, the parties hereby agree that

1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments
which shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the
promises and agreements herein set forth.

2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL
CONTRACT, and all tenns, 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 be modified, altered, and changed in the
following respects only:

a. The first sentence of Recital 12 is amended to read as follows:

The CITY'S and/or BORROWER'S participation in the PROJECT will consist of entering
into three Allotment Contracts with the Northem Colorado Water Conservancy District,
one dated January 14, 1994, which is incorporated herein by reference, one dated
August 4, 1995, which is attached hereto as Appendix B and incorporated herein, and
one dated July 14, 1998, which is attached hereto as Appendix C and incorporated
herein, to pay for the CITY'S proportionate share of the construction costs of the PROJECT.

b. Recital 16 is amended to read as follows:

The parties recognize and understand that such water revenues of the CITY have
also been pledged for the payment of the BORROWER'S Water Revenue Refunding and
Improvement Bond, Series 1994, and the BORROWER'S City of Fort Morgan Water Works
and Distribution Enterprise Water Revenue Bonds, Series 1997, both of which hold a lien
on the water revenues on a parity with the STATE'S lien on said revenues under this
contract. Additionally, the parties recognize and understand that said revenues have
been pledged for the payment of the BORROWER'S obligations under the Reimbursement
Agreement to State Street Bank and will be pledged for the payment of additional parity
bonds issued to the Colorado Water Resources and Power Development Authority
("AUTHORITY"), CWCB and the United States Department of Agriculture-Rural
Development ("RURAL DEVELOPMENT") for financing the completion of the BORROWER'S
water supply project, all of which shall hold a lien on the water revenues on a parity with
the STATE'S lien on said revenues under this contract.

c. Paragraphs A.5.(1) and (2) are amended to read as follows:

Pledge of revenues from any sale or lease of the CITY'S and/or BORROWER'S interest
in the 1994, 1995, and 1998 Allotment Contracts, evidenced by an Amended Security
Agreement, attached and incorporated herein as Attachment A which amends the
Security Agreement attached to the Original Contract as Appendix E, and

Pledge of the CITY'S and/or BORROWER'S CONTRACT RIGHTS under the 1994, 1995,
and 1998 Allotment Contracts as described in the Remedies provision of this contract,
and evidenced by an Amended Security Agreement, attached and incorporated herein
as Attachment A, which amends the security agreement attached to the Original

City of Fort Morgan, Colorado & City of Fort Morgan,
Colorado, Water Works and Distribution Enterprise

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