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<br />AMENDMENT NO.1 TO SECURITY AGREEMENT <br /> <br />DEBTOR: The Town of Monument, Colorado, acting by <br />and through the Town of Monument, Colorado <br />Water Enterprise <br /> <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br /> <br />DATE OF ORIGINAL SECURITY AGREEMENT: MARCH 1,2002 <br /> <br />ORIGINAL PROMISSORY NOTE: $2,081,000, DATED MARCH 1, 2002, INTEREST AT <br />THE RATE OF 5.50% PER ANNUM WITH ANNUAL <br />PAYMENT FOR A PERIOD OF 30 YEARS OR UNTIL PAID <br />IN FULL. <br /> <br />ORIGINAL LOAN CONTRACT: C150062, DATED MARCH 1, 2002 <br /> <br />1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note to <br />increase the loan amount from $2,081,000 to $2,443,000 and hereby amend the <br />original security agreement to document the increase of $362,000 in the loan amount. <br /> <br />2. The Parties expressly agree that this Amendment is supplemental to the Security <br />Agreement and all terms, conditions, and provisions thereof, unless specifically <br />modified below, are to apply to this Amendment as though they were expressly <br />rewritten, incorporated, and included herein. <br /> <br />Amended Loan Contract: C150062, dated September 1, 2002 <br /> <br />Replacement Promissory Note: $2,443,000, dated September 1, 2002, interest <br />at the rate of 5.50% per annum with annual <br />payments for a period of 30 years or until paid in <br />full <br /> <br />Date of Amended Security Agreement: September 1 . 2002 <br /> <br />DEBTOR: The Town of Monument, <br />Colorado, acting by and through the <br />Town of Monument, Colorado Water <br />Enterprise <br /> <br />~~~ <br /> <br />~arski, President <br /> <br />SEAL <br /> <br />ATTEST: <br /> <br />By <br /> <br /> <br />Anne, Holliday, Secretary <br /> <br />Attachment C to Contract C150062 Amendment No.1 <br />