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~ BORROWER: BIJOU IRRIGATION DISTRICT Contract No. C150199 Original Loan Amount $672,660 Adjustment (Increase): $51,290 AdjustHd Loan Amount $723,950 Agency Name: Water ConseNation Board Agency Number PDA Routing Number: 08 PDA ()olJ J l' LOAN CONTRACT AMENDMENT No.1 (STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003) 'This Amendment, made this August 20, 2007, by and between the State of Colorado for the use and benefit of the Department of Natural Resources, Colorado Water ConseNation Board ("CWCB"), and Bijou Irrigation District, P.O. Box 972, Fort Morgan, Colorado 80701, organized under the Irrigation District Law of 1905 (C.R.S. 37- 41-101 to -160) ("BORROWER" or "CONTRACTOR"). FACTUAL RECITALS A. Autl10rity exists in the law, and funds have been budgeted, appropriated, and othorwise made available for payment in Contract Encumbrance Number C1 ~)0199. B. Required approval, clearance, and coordination have been accomplished 1from and with appropriate agencies. C. Th8' CWCB and the BORROWER entered into Contract Encumbrance Number C1 ei0199, dated September 8, 2006 ("ORIGINAL CONTRACT"), incorporated herein by reference, wherein the CWCS agreed to loan money in the total amount up to $672,660, and the BORROWER agreed to repay the loan in accordance with the terms of the ORIGINAL CONTRACT. D. During construction of the Project, the BORROWER encountered construction, engineering, and legal costs that exceeded the original project cost estimatE~. These items increased the cost of the PROJECT by $56,617. To meet the increas13d costs, the BORROWER requested an additional $51,290 for a total loan amount of $723,950. E. At its May 2007 meeting, the CWCB approved increasing this loan by $51,:290 for a total loan amount of up to $723,950 to finance up to 90% of the total ProjE~ct costs. The terms for the additional loan amount are an interest rate of 2.50% per annum and a repayment period of 30 years. A loan seNice fee of 1 % is included in the additional loan amount In accordance with CWCB Policy No. 16. F. The CWCB and the BORROWER have agreed to amend this contract to increase the amount of the loan by $51,290 including the 1% loan seNice fee for a total loan amount of up to $723,950 which may be used to finance up to 90% of the total Project cost. . 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 the 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 speGifically modified herein, are to apply to this Amendment as though they were Page 1 of 9-