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<br />---- <br /> <br />construction required for each project or as may be justified by reason of changes in <br />the plan for a project due to differing or unforeseen site conditions, errors or <br />omissions in the plans and specifications. changes instituted by regulatory agencies, <br />or changes in material quantities beyond contract limits." <br /> <br /> <br />F, At its July, 2002 meeting, the CWCB approved increasing this loan by $362,000, for a <br />total loan amount of up to $2,443,000, The terms for the additional $362,000 loan <br />amount are an interest rate of 5.50% per annum and a repayment period of 30 years <br /> <br />G. The CWCB and the BORROWER have agreed to amend this contract to increase the <br />amount of the loan by $362,000, for a total loan amount of up to $2,443,000. <br /> <br />NOW THEREFORE, it is hereby agreed that <br /> <br />1, Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments <br />that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the <br />promises and agreements herein set forth. <br /> <br />2, It is expressly agreed by the parties that this Amendment is supplemental to the <br />ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless specifically <br />modified herein, are to apply to this Amendment as though they .were expressly <br />rewritten, incorporated, and included herein. <br /> <br />3, The CWCB agrees that it shall loan the BORROWER an additional $362,000 at an <br />interest rate of 5.50% per annum for a term of 30 years, in addition to the original loan <br />of $2,081 ,000 at an interest rate of 5.50% per annum for a term of 30 years. and the <br />Borrower hereby agrees to repay the loan in accordance with the terms of the ORIGINAL <br />CONTRACT, as amended, and Promissory Note, <br /> <br /> <br />4. Prior to the execution of this Amendment by the CWCB, the BORROWER shall submit <br />to the eWCB a letter from its attorney stating that it is the attorney's opinion that (1) <br />the contract will be duly executed by officers of the Borrower who are duly elected or <br />appointed and are authorized to execute the contract and to bind the Borrower; (2) the <br />ordinances of the Borrower authorizing the execution and delivery of this contract <br />amendment were duly adopted by the governing bodies of the Borrower; (3) there are <br />no provisions in the Colorado Constitution, or any state or local law that prevent this <br />Amendment from binding the BORROWER; and (4) this Amendment will be valid and <br /> <br />Page 2 of 4 <br /> <br />