PROJC01276

• Contract/PO #: C153517
• Contractor Name: Lone Cabin Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Bill Number: SB 87-15
• Loan Projects - Doc Type: Contract Documents

AMENDHENT #l
PROJECT
CONTRACT

~. fl 'j 17e:, 'I !
Ut-.f H::N r OR AGENCY .'l/U.\tBl::R
34-04-00
co:'>! rRACT RO~P~(; NlJ\tBER
'i\'(f,/ru
$12,700 Additional

Form 6-AC~2A CR ,S/8's1
" W/FRPB
Lone Cabin Dam

THIS CONTRACT. made ,)lis :J? t'Z-day of
Slale of Colorado for lhe u~e an~ benefic of loe Depar! enl of '1
(Colorado Water Conservation Board),
hereinaher rf'ferred 10 as rhe SlalC', and '2 the Lone Cabin Ditch and Reservoir
Company, 4236 N. Road, paonia, CO 81428,
hep~inaf!er referred to as (he cO':ltractor /Contractor, and the North Fork Water Conservaric
D~str~ct, a duly const~tuted water conservancy district, sponsoring agency. Y
WHEREAS. authority exislS in the law and funds have been budgeled. appropriated and otherwise made
available and a sufficienl unencumbered balance thereof remains available for payment in Fund ~umber 4008
G/L Account Numbtr5369X . COlUmct Encumbrance NumberCl535l7 ; and '
ABL Account No. 13690, Org. Unit 77-77-777,
.WHEREAS. re4uired appruval. clearance and coordinaliun has been accomplished from and with appropriate
agenclcs: and

198 ~ . bl! and betwcen the
Natural Resources

WHEREAS. the State and the Contractor entered into a
contract dated JUly 13. 1988. contract encumbrance number
C-153517 (hereinafter the "Original Contract"); and

WHEREAS. the original loan of Eighty Thousand Dollars
($80.000> made to the Contractor for the repairs of the Lone
Cabin Dam was insufficient; and

WHEREAS. pur$uant to Senate Bill No. 85. Fifty-Seventh
General Assembly of the State of Colorado. duly enacted into
law. the State h~S been authorized to increase the loan amount
to Ninety-Two Thousand Seven Hundred Dollars ($92.700), and
also to increase the time of repayment from twenty-eight (28)
to Forty (40) years.

NOW THEREFOR~. in consideration of the mutual and dependent
covenants herein contained. it is hereby agreed as follows:

1. This con~ract amendment is a supplement to the Original
Contract. Attach~ent A. which is by this reference incorporated
and made a part hereof: and all terms. conditions and
provisions thereOf. unless specifically modified herein. are to
apply to this contract amendment as though they were expressly
rewritten. incorporated. and included herein.

2. Paragrapns B.ll.. B.12.. 0.1. and J. shall be amended
to read as follo~s:
/' - 7
B,11. Repay to the Sta te the tota 1 (p~ inc i pa l' sum of Two
Hundred sixteen Thousand One Hundred Two Dollars and
Forty Cents ($216.102.40). which includes the
project loan amount and the feasibility report
amount. together with interest at the rate of five
percent (5'> per annum. said repayment to be made in
const~nt annual installments of Five Thousand Four
Hundred Two Dollars and Fifty-Six Cents ($5.402.56)
each. for forty (40) years. as shown in Attachment
B. attached hereto and incorporated by reference
herein. which first installment shall be due and
payable on the first day of the month next
succeeding the month in which the State determines
that the project has been substantially completed.
and yearly thereafter until the entire principal sum
shall have been paid. However. in the event the
Contractor does not draw funds commencing on the
date specified in paragraph D.l.a. below. the
obligation to repay shall be postponed for the same
number of months as the Contractor delays in drawing
funds. Said installment payments shall be made
payable to the ColoradO Water Conservation Board.
payabl~ at the offices of said Board in Denver.
Colorado. The Contractor pledges its full faith and
credit in support of this Obligation and warrants

J95-5lO1-1014

Pa~e I of -.2.. pa~cs

0124E*