C150029 Contract

• Contract/PO #: C150029
• Contractor Name: Chilcott Ditch Company
• Contract Type: Loan
• Water District: 10
• County: El Paso
• Bill Number: EIA
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment Original Loan Contract No. C150029 CORE CT2015-170
No.1 CMS 79092
1) PARTIES
This Amendment No.1 (AMENDMENT) to the above-referenced ORIGINAL LOAN CONTRACT (hereinafter
called the ORIGINAL CONTRACT) is entered into by and between the Chilcott Ditch Company, 1845
Woodmoor Drive, Monument, Colorado, 80132, a Colorado nonprofit corporation, (hereinafter called
"BORROWER") and the STATE OF COLORADO (hereinafter called the "STATE") acting by and
through the Department of Natural Resources, Colorado Water Conservation Board, (hereinafter
called "CWCB").
2) EFFECTIVE DATE AND ENFORCEABILITY
This AMENDMENT shall not be effective or enforceable until it is approved and signed by the
Colorado State Controller or designee (hereinafter called the "EFFECTIVE DATE"), but shall be
effective and enforceable thereafter in accordance with its provisions.
3) FACTUAL RECITALS
Chilcott Ditch Company was approved for a CWCB LOAN CONTRACT(C150029) for the purpose of
reconstructing the Borrower's diversion structure on Fountain Creek (PROJECT). A request for a
change to the Assignment of Certificate of Deposit, to assign a new Certificate of Deposit as
collateral, was approved by CWCB. The original Certificate of Deposit matured on March 23, 2015.
The maturity value of the original Certificate of Deposit was greater than the loan contract's collateral
requirement, so a new Certificate of Deposit is being pledged by the Borrower.
4) CONSIDERATION
Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be
made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein
set forth.
The Parties acknowledge that the mutual promises and covenants contained herein and other good
and valuable consideration are sufficient and adequate to support this AMENDMENT.
5) LIMITS OF EFFECT
This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL
CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as
specifically modified herein.
6) MODIFICATIONS.
The ORIGINAL CONTRACT NUMBER CT 2015-170 (C150029) and all prior amendments thereto, if any,
are modified as follows:
a) The BORROWER agrees that it shall execute the following document, which shall set forth the
loan contract revision:
i. Amendment to Assignment of Certificate of Deposit, Appendix 4a, attached to
Amendment No.1 to Loan Contract C150029, issued by Integrity Bank and Trust,
Certificate of Deposit No. 100601, in the amount of$15,000 shall replace and
supersede the Assignment of Certificate of Deposit, issued by Norwest Bank Colorado,
NA, Certificate of Deposit No. 600815040, in the amount of$14,457.52, attached to the
Original Contract as Appendix 4.
ii. The Certificate of Deposit Copy, in the amount of$15,000.00, will be attached to
Appendix 4a as a supporting document.
Amendment No. 1
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