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AGENCY NAME: Water Conservation Board AGENCY NUMBER: PDA ROUTING NUMBER: 99 PDA OCOa. 0 CON T RAe TAM END MEN T No.1 THIS AMENDMENT, made this ISr day of JUNE:.. 1999, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation Board (CWCS), hereinafter referred to as the STATE, and The Wood Lake Mutual Water & Irrigation Company, a Colorado nonprofit corporation, 12315 Weld County Road 72, Eaton, CO 80615, hereinafter referred to as the CONTRACTOR. FACTUAL RECITALS A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Appropriation Code L97, Contract Encumbrance Number C153810. S. Required approval, clearance, and coordination has been accomplished from and with appropriate agencies. C. The STATE and the CONTRACTOR entered into a contract dated November 24, 1997, Contract Encumbrance Number C153810, hereinafter referred, to as the ORIGINAL CONTRACT and incorporated herein by reference, wherein the STATE agreed to loan money in the total amount of $188,000 to finance the costs of rehabilitating the Wood Lake Dam, hereinafter referred to as the PROJECT, and the CONTRACTOR agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT. D. Due to changed field conditions, revised project requirements from the State Engineer, and difficulties in obtaining easements for the PROJECT, the PROJECT cost estimate has increased from $250,000 to $550,000. To meet the increased costs, the CONTRACTOR requested an additional $270,000 in loan funds for a total loan amount of $458,000 which may be used to finance up to 83% of the total PROJECT cost. E. 1997 Colo. Sess. Laws, Ch. 168, Section 1 (2) provides that the cwes may increase authorized loan amounts "as may be justified by reason of ordinary fluctuations in construction costs as indicated by engineering cost indices applicable to the types of construction required for each project or as may be justified by reasons of changes in the plans for a project due to differing or unforeseen site conditions. . . or changes instituted by regulatory agencies or changes in material quantities beyond contract limits." The ewcs staff reviewed the CONTRACTOR'S request and concluded that the increased costs are due to differing and unforeseen site conditions and changes instituted by the State Engineer. F. At its January 27-28,1999 meeting, the CWCS approved increasing this loan by $270,000 to a total loan amount of $458,000 which may be used to finance up to 83% of the total PROJECT cost. The Wood Lake Mutual Water & Irrigation Company Page 1 of 3 Contract Amendment NO.1