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CONTRACT AMENDMENT <br /> Amendment#2 Original Loan Contract Amendment CMS Number <br /> CLIN #06-PDA-63 (to be filled in by CWCB) <br /> Amend No.1 CLIN #09-PDA-124 #65109 <br /> Contract# C150172 <br /> 1) PARTIES <br /> This Amendment No. 2 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called <br /> the ORIGINAL CONTRACT) is entered into by and between the Union Ditch Company, PO 445, <br /> Greeley, Colorado 80632, a Colorado nonprofit corporation (Borrower), and the STATE OF <br /> COLORADO (hereinafter called the "STATE") acting by and through the Department of Natural <br /> Resources, Colorado Water Conservation Board, (hereinafter called "CWCB"). <br /> 2) EFFECTIVE DATE AND ENFORCEABILITY <br /> This AMENDMENT shall not be effective or enforceable until it is approved and signed by the Colorado <br /> State Controller or designee (hereinafter called the "EFFECTIVE DATE"), but shall be effective and <br /> enforceable thereafter in accordance with its provisions. <br /> 3) FACTUAL RECITALS <br /> The Union Ditch Company was approved for a loan, from the CWCB, totaling $312,595.00 on March 2, <br /> 2006 to finance the Web Augmentation/Recharge Project. Amendment No. 1, to the Original Contract, <br /> dated June 16, 2009 extended the contract date. The PROJECT was substantially completed as of <br /> December 1, 2013. The Parties agree to this Amendment No. 2, to the Original Contract, to reduce the <br /> final loan amount. The total amount disbursed under this contract was $100,061.53. An adjustment of <br /> $212,533.47 will be made to the contract for the funds no longer needed. <br /> 4) CONSIDERATION <br /> Consideration for this AMENDMENT to the ORIGINAL CONTRACT consists of the payments that shall be <br /> made pursuant to this AMENDMENT and ORIGINAL CONTRACT and the promises and agreements herein <br /> set forth. <br /> The Parties acknowledge that the mutual promises and covenants contained herein and other good <br /> and valuable consideration are sufficient and adequate to support this AMENDMENT. <br /> 5) LIMITS OF EFFECT <br /> This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL <br /> CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as <br /> specifically modified herein. <br /> 6) MODIFICATIONS. <br /> The ORIGINAL CONTRACT NO. C150172 and all prior amendments thereto, if any, are modified as <br /> follows: <br /> a) Amend the contract to reduce the final loan amount. The loan contract was substantially <br /> completed as of December 1, 2013. The total amount disbursed under this contract was <br /> $100,061.53. A decrease of $212,533.47 will be made to the contract for the funds no longer <br /> needed. <br /> b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth <br /> the revised loan amount of$100,061.53: <br /> I. PROMISSORY NOTE, attached as APPENDIX A and incorporated herein, which shall replace <br /> and supersede the PROMISSORY NOTE, in the amount of $312,595.00 dated February 10, <br /> 2006, attached to the ORIGINAL CONTRACT as Appendix 2. <br /> II. Amended SECURITY AGREEMENT, attached hereto as APPENDIX B and incorporated herein, <br /> which shall supplement and operate in conjunction with the SECURITY AGREEMENT dated <br /> February 10, 2006, attached to the ORIGINAL CONTRACT as Appendix 4. <br /> Amendment No.2 to Loan Contract C150172 <br /> Page 1 of 3 <br />