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<br />BORROWER: LOMA DITCH AND LATERAL
<br />Contract No. C150114
<br />Original Loan Amount $250,235
<br />Adjustment (Decrease): 516,478.14
<br />Adjusted Loan Amount 5233,756.86
<br />
<br />Agency Name: Water Conservation Board
<br />Agency Number PDA
<br />Routing Number: 04 PDA 00067
<br />
<br />LOAN CONTRACT AMENDMENT NO.1
<br />(STANDARD CONTRACT - WAIVER #160 - APPROVED NOVEMBER 10, 2003)
<br />
<br />This Amendment, made this March 1, 2004, by and between the State of Colorado
<br />for the use and benefit of the Department of Natural Resources, Colorado Water
<br />ConseNalion Board ("CWCB"), and The Loma Ditch and Lateral Company, P.O. Box 11,
<br />Loma, CO 81524-0011, a Colorado nonprofit corporation ("BORROWER" or "CONTRACTOR").
<br />
<br />FACTUAL RECITALS
<br />
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
<br />made available for payment in Contract Encumbrance No. C150114, Fund Number 424,
<br />Appropriation Code MC3, Organization YYYV, GBL L 114, Program WTRC, Reporting
<br />Category 0114.
<br />
<br />B. Required approval, clearance, and coordination have been accomplished from and vvith
<br />appropriate agencies.
<br />
<br />C. The CWeB and the BORROWER entered into Contract Encumbrance Number C150114,
<br />dated November 1, 2002, (~ORIGINAL CONTRACI), incorporated herein by reference, wherein
<br />the CWCB agreed to loan money in the total amount up to 5250,235, and the BORROWER
<br />agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT.
<br />
<br />D. The Project was substantially complete as of July 1, 2003.
<br />
<br />E. Of the 5250,235 loan amount available, only $233,756.86 was disbursed to the BORROWER
<br />for the PROJECT.
<br />
<br />F. The parties agree to amend the contract to reduce the final loan amount.
<br />
<br />NOW THEREFORE, it is hereby agreed that
<br />
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments that
<br />shall be made pursuant to this Amendment and ORIGINAL CONTRACT and the promises and
<br />agreements herein set forth.
<br />
<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
<br />herein, are to apply to this Amendment as though they were expressly rewritten,
<br />incorporated, and included herein.
<br />
<br />3. The BORROWER agrees that it shall execute the following documents, all of which shall sel
<br />forth the revised loan amount of 5233,756.86:
<br />
<br />a. Promissory Note, attached as Appendix 1 and incorporated herein, 'Nhich shall replace
<br />and supersede the Promissory Note in the amounl of 5250,235.00, dated November 1,
<br />2002, attached to the ORIGINAL CONTRACT as Appendix 2.
<br />
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