C150113 contract

• Contract/PO #: C150113
• Contractor Name: Lake Arrowhead Water Association
• Contract Type: Loan
• Water District: 0
• County: Weld
• Loan Projects - Doc Type: Contract Documents

BORROWER: LAKE ARROWHEAD WATER
ASSOCIATION
Contract No. C150113
Original Loan Amount $300,000
Adjustment (Increase/Decrease):
$75,504.30
Adjusted Loan Amount $224,495.70
Agency Name: Water Conservation Board
Agency Number PDA
Routing Number: 07 PDA ©n05~
LOAN CONTRACT AMENDMENT NO.1
(STANDARD CONTRACT -WAIVER #160 -APPROVED NOVEMBER 1 O, 2003)
This Amendment, made this December 22, 2006, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado Water
Conservation Board ("CWCB"), and the Lake Arrowhead Water Association, 5716
Arrowhead Drive, Greeley, Colorado 80634, a Colorado nonprofit corporation {"BORROWER"
or "CONTRACTOR").
FACTUAL RECITALS
A. Authority exists in the law, and funds -have been budgeted, appropriated, and otherwise
made available for payment in Contract Encumbrance Number C150113.
B. Required approval, clearance, and coordination have been accomplished from and with
appropriate agencies.
C. The CWCB and the BORROWER entered into Contract Encumbrance Number C150113,
dated January 1, 2004 ("ORIGINAL CONTRACT"), incorporated herein by reference,
wherein the CWCB agreed to loan money in the total amount up to $300,000, and the
BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL
CONTRACT.
D. The Project was substantially complete as of January 1, 2005.
E. Of the $300,000 loan amount available, only $224,495.70 was disbursed to the
BORROWER for the PROJECT.
F. The parties agree to amend the contract to reduce the final loan amount.
NOW THEREFORE, it is hereby agreed that
1. 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.
2. It is expressly agreed by the parties that this Amendment is supplemental to the
ORIGINAL CONTRACT, and all terms, conditions, and provisions thereof, unless
specifically modified herein, are to apply to this Amendment as though they were
expressly rewritten, incorporated, and included herein.
3. The BORROWER agrees that it shall execute the following document, all of which shall
set forth the revised loan amount of $224,495.70:
a. Promissory Note, attached as Appendix A and incorporated herein, which shall
Loan Contract C150113 Amendment No. 1
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