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<br />a. Promissory Note, attached as Attachment B and incorporated herein, which shall
<br />replace and supercede the Promissory Note in the amount of $955,000 dated
<br />December 11, 2000 (Appendix 2 to the ORIGINAL CONTRACT)
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<br />b. Amended Security Agreement, attached hereto as Attachment C and incorporated
<br />herein, which shall supplement and operate in conjunction with Appendix 3 to the
<br />ORIGINAL CONTRACT.
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<br />7. The parties agree that the ORIGINAL CONTRACT, is and shall be modified, altered, and
<br />changed in the following respects only:
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<br />a. The seventh line of Factual Recital No. 11 is amended to read as follows:
<br />"...currently outstanding in the aggregate principal amount of $455,733.55, and (3)
<br />loan agreement dated January 30, 2002, with the CWRPDA, currently outstanding
<br />in the aggregate principal amount of $2,325,000, and approved by the CWCB for
<br />parity status on January 29, 2002, and any refunding or replacement thereof;
<br />(collectively the...."
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<br />b. Paragraph A.9, Promissory Note Provisions, shall be amended to read as follows:
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<br />The Promissory Note, setting forth the terms of repayment and evidencing this
<br />loan is dated March 1,2002, in the total loan amount of $1,165,000, with at
<br />interest rate of 5.0% per annum on $955,000 and an interest rate of 5.5% per
<br />annum on $210,000, and a repayment term of 30 years is attached as
<br />Attachment B and incorporated herein.
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<br />c. The second line of Paragraph A.9.b, Interest During Construction, shall be
<br />amended to read as follows: "... BORROWER during construction, interest shall
<br />accrue-st the rate of 5% on the first $955,000 disbursed, and at the rate of 5.5%
<br />on the remaining $210,000. The ..."
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<br />d. The third line of Paragraph A.11.b, Security interest in pledged revenues, shall be
<br />amended to read as follows: "... for said revenues, except for the liens of the
<br />BORROWER'S prior obligations as listed in Factual Recital 11 of the Loan Contract
<br />as amended hereby, the BORROWER has duly..."
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<br />7. Except for the SPECIAL PROVISIONS, in the event of any conflict, inconsistency,
<br />variance, or contradiction between the provisions of this Amendment and any of the
<br />provisions of the ORIGINAL CONTRACT, as amended, the provisions of this Amendment
<br />shall in all respects supersede, govern, and control. The SPECIAL PROVISIONS shall
<br />always be controlling over other provisions in the contract or amendments. The
<br />representations in the SPECIAL PROVISIONS concerning the absence of bribery or
<br />corrupt influences and personal interest of STATE employees are presently reaffirmed.
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<br />8. Financial obligations of the state payable after the current fiscal year are contingent
<br />upon funds for that purpose being appropriated, budgeted, and otherwise made
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<br />City of Idaho Springs
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<br />Page 3 of4
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<br />Contract Amendment No.1
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