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<br />AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
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<br />ROUTING NUMBER: (j)()
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<br />Con t r act A men d men t No. 1
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<br />THIS AMENDMENT, made this 1 st day of March 2001, by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
<br />Conservation Board, hereinafter referred to as the CWCB and/or STATE, and the Jackson
<br />Lake Reservoir and Irrigation Company, a Colorado nonprofit corporation, P.O. Box 38, Fort
<br />Morgan, CO, 80701, hereinafter referred to as the CONTRACTOR.
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<br />Factual Recitals
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<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made
<br />available and a sufficient unencumbered balance thereof remains available for payment in Fund
<br />Number 424, Appropriation Code SOO, GSL JACK, Contract Encumbrance Number C150043.
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<br />S. Required approval, clearance, and coordination has been accomplished from and with appropriate
<br />agencies.
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<br />C. The CWCS and the Contractor entered into a contract dated August 22, 2000, Contract
<br />Encumbrance Number C150043, hereinafter referred to as Original Contract, incorporated herein
<br />by reference, wherein the CWCS agreed to loan money in the total amount of $336,600 from the
<br />Severance Tax Perpetual Sase Account, and the Contractor agreed to repay the ioan in
<br />accordance with the terms of the Original Contract.
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<br />D. Due to unforeseen site conditions and design modifications of the project, additional work was
<br />required that increased the total estimated cost of the project. To meet the increased costs, the
<br />Contractor requested an additional $53,100, for a total loan amount of $389,700, which may be
<br />used to financE: up to 90% of the total Project cost.
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<br />E. H.S. 00-1419, Section 1(2) provides that the CWCS may increase authorized loan amounts as
<br />may be justified by "reasons. of ordinary fluctuations in construction costs as indicated by the
<br />engineering cost indices applicable to the types of construction required for each project or as
<br />may be justified by reason of changes in the plan for a project due to differing or unforeseen site
<br />conditions, errors or omissions in the plans and specifications, changes instituted by regulatory
<br />agencies, or changes in material quantities beyond contract limits,"
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<br />F. At its November 20, 2000 meeting, the CWCS approved an increase to this loan in the amount of
<br />$53,100 for a new total loan amount of $389,700, at an interest rate of 4% per annum for a duration
<br />of 30 years. As a condition of its approval of that loan, the Soard requested that the Contractor
<br />increase its annual assessments to $14.40 per share, and to increase the Certificate of Deposit to
<br />$22,536,39, the amount of the revised annual loan payment. '
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<br />G. The CWCS and the Contractor agree to amend this contract to document the increase in the loan
<br />amount by $53,100, for a total loan amount of up to $389,700, which may be used to finance up
<br />to 90% of the total Project cost.
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<br />NOW THEREFORE, it is hereby agreed that
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<br />1. Consideration for this Amendment to the Original Contract consists of the payments which shali
<br />be made pursuant to this Amendment and lI:le Original Contract, as amended, and the promises
<br />and agreements herein set forth.
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