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<br />BORROWER: TOWN OF MONUMENT, COLORADO
<br />Contract No. C150062
<br />Original Loan Amount:
<br />Adjustment (Increase):
<br />Adjusted Loan Amount:
<br />
<br />$2,081,000
<br />$ 362,000
<br />$2,443,000
<br />
<br />Agency Name: Water Conservation Board
<br />Agency Number PDA
<br />Routing Number: 03 PDA ()OO lip
<br />
<br />LOAN CONTRACT AMENDMENT No. 1
<br />
<br />This Amendment, made this September 1, 2002, by and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources. Colorado Water
<br />Conservation Board ("CWCB" or "State"), and the Town of Monument, Colorado, acting by
<br />and through the Town of Monument, Colorado, Water Enterprise, P. 0, Box 325, 166 2nd
<br />Street, Monument, CO 80132 ("BORROWER" or "Contractor").
<br />
<br />F ACTUAL RECITALS
<br />
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and othelWise
<br />made available for payment in Contract Encumbrance Number C150062.
<br />
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />
<br />appropriate agencies.
<br />
<br />C, The CWCB and the Borrower entered into Contract Encumbrance Number C150062,
<br />dated March 1, 2002. hereinafter referred to as ORIGINAL CONTRACT, incorporated herein
<br />by reference, wherein the CWCB agreed to loan money in the total amount up to
<br />$2,081,000, and the Borrower agreed to repay the loan in accordance with the terms of
<br />the ORIGINAL CONTRACT.
<br />
<br />D. During construction of the PROJECT, the BORROWER encountered unforeseen site
<br />conditions, design modifications, and a need for additional work due to changes not
<br />anticipated in the original project cost estimate, These items increased the cost of the
<br />Project by $1,243,135. To meet the increased costs, the Borrower requested an
<br />additional $362,000, for a total loan amount of $2,443,000,
<br />
<br />E, Senate Bill 01-157, Section 2(2) provides that the CWeB may increase authorized
<br />loan amounts as may be justified by "reasons of ordinary fluctuations in construction
<br />costs as indicated by the engineering cost indices applicable to the types of
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