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<br />AGENCY NAME: Water Conservation Board
<br />
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: 00 PD It- oOO">D
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<br />Contract Amendment No.1
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<br />This Amendment, made this 1ST day of YJ2 /:?'~n2000, by and between the
<br />State of Colorado for the use and benefit of the Department qyNatural Resources, Colorado
<br />Water Conservation Board, hereinafter referred to as the CWCB or STATE, and The
<br />Consolidated Mutual Water Company, hereinafter referred to as the CONTRACTOR.
<br />
<br />Factual Recitals
<br />
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise
<br />made available and a sufficient unencumbered balance thereof remains available for
<br />payment in Fund Number 424, Appropriation Code L99, Contract Encumbrance Number
<br />C150011.
<br />
<br />B. Required approval, clearance, and coordination have been accomplished from and with
<br />appropriate agencies.
<br />C. The STATE and the CONTRACTOR entered into a contract October 13, 1999, Contract
<br />Encumbrance Number C150011, hereinafter referred to as the ORIGINAL CONTRACT
<br />. "",,,;,, uy '''''''''''''''', wnerelO me STATE agreed to loan money in the total
<br />amount of $10,000,000, and the CONTRACTOR agreed to repay the loan in accordance with
<br />the terms of the ORIGINAL CONTRACT.
<br />D. The CONTRACTOR requested an additional $6,300,000 for construction of the Fortune
<br />Reservoir, hereinafter referred to as the PROJECT. The total cost of the PROJECT is
<br />estimated to be $21,758,000. The increase in the loan amount from $10,000,000 to
<br />$16,300,000 would provide the CONTRACTOR with funding from the STATE not to exceed
<br />75% of the total PROJECT costs.
<br />E. At its January 26-27, 2000 meeting, the CWCB approved increasing this loan by
<br />$6,300,000, for a total loan amount of up to $16,300,000, which may be used to finance up
<br />to 75% of the total PROJECT cost. The terms for the $6,300,000 loan amount is an interest
<br />rate of 5% per annum and a repayment period of ten years.
<br />F. The Pursuant to HBOO-1419, Section 2, the Colorado General Assembly authorized the
<br />CWCB to loan to the CONTRACTOR an additional amount not to exceed $6:300,000,
<br />hereinafter referred to as the AUTHORIZED LOAN AMOUNT, from the Construction Fund for
<br />financing PROJECT costs.
<br />G. The STATE and the CONTRACTOR have agreed to amend this contract to increase the
<br />amount of the loan by $6,300,000, for a total loan amount of up to $16,300,000, which
<br />may be used to finance up to 75% of the total PROJECT cost.
<br />NOW THEREFORE, it is hereby agreed that
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the
<br />payments that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT, and
<br />the promises and agreements herein set forth.
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the
<br />
<br />The Consolidated Mutual Water Corr.pany
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<br />Page 1 of 3
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<br />ConU<.lct Amendment NO.1,
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