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<br />NOW THERE~ORE. it is agreed that: <br /> <br />1. Consideration for this amendment to the Original <br />Contract consists Of the payments which shall be made pursuant <br />to this amendment and the promises and agreements herein set <br />forth. This consideration shall constitute all final payments <br />due to the Contractor for the construction of the project. <br /> <br />2. This contcact amendment is a supplement to the <br />Original Contract. attached hereto as Appendix A. which is by <br />reference incorporated herein and made a part hereof. All <br />terms. conditions 8nd provisions of the Original contract. <br />unless specificallY modified herein. shall apply to this <br />contract amendment as though they were expressly rewritten. <br />incorporated and included herein. <br /> <br />3. <br />Original <br />shown on <br />shal1 be <br /> <br />The only modifications. alterations or changes in the <br />contract shall be that Exhibit 'c shall be revised as <br />Appendix B. and paragraphs B.l3.. D.l.. J.. and N. <br />revised to read as follows. <br /> <br />B. <br /> <br />13. Repay to the State the total principal sum of Eighty <br />Thousand Eight Hundred Fifty-One Dollars and Twenty-Two Cents <br />($60.651.22). which includes the project loan amount and the <br />Two-Thousand-Dollar ($2.000) feasibility report amount. <br />together with interest at the rate of five percent (5\) per <br />annum. said repayment to be made in constant annual <br />installments of Six Thousand Four Hundred Eighty-Seven Dollar6 <br />and Sixty Cents ($6.487.60) each. for twenty (20) years. as <br />shown in Appendix D. attached hereto and incorporated by <br />reference herein. ~hich first installment shall be due and <br />payable on the first day of the month next succeeding the month <br />in which the State determines that the project has been <br />substantially completed. and yearly thereafter until the entire <br />principal sum shall have been paid. Said installment payments <br />shall be made payable to the Colorado Water Conservation Board. <br />payable at the offices of said Board in Denver. Colorado. <br /> <br />D. The State agrees that it shall: <br /> <br />1. Loan to the Contractor for the construction of the <br />project an amount not to exceed Seventy-Eight Thousand Eight <br />Hundred Fifty-One Dollars and Twenty-Two Cents ($76.651.22). <br />Said Seventy-Eight Thousand Eight Hundred Fifty-One Dollars and <br />Twenty-Two Cents ($76.651.22) shall be made available to the <br />Contractor in accordance with the following terms and <br />conditions: <br /> <br />a. Beginning ~ith the monthly periOd commencing June <br />28. 1989. and for every month thereafter until said <br />project has been completed. the Contractor shall <br />prepare. with the assistance of the Consultant referred <br />to in paragraph B.l. above. an estimate of the funds <br />required for project construction during that month and <br />shall forward said estimate to the State not less than <br />fifteen (15) days prior to the beginning of such month. <br /> <br />b. Upon receipt and approval by the State of such <br />monthly estimate. the State will. within forty (40) <br />days from the receipt of such estimate. pay over to the <br />Contractor the amount of the monthly estimate or such <br />portion thereof as has been approved by the State. <br /> <br />c. No payments will be made under this contract unless <br />and until the project plans and specifications referred <br />to in paragraph D.l. above are approved by the State in <br />writing. <br /> <br />Page ~ of ~ Pages <br />