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... BORROWER: BIJOU IRRIGATION COMPANY Contract No. C150255 Original Loan Amount $ 763,560 Adjustment (Increase): $45,450 Adjusted Loan Amount $809,010 Agency Name: Water Conservation Board Agency Number PDA Routing Number: 08 PDA ~tJo9b LOAN CONTRACT AMENDMENT No.1 (STANDARD CONTRACT - WAIVER #160 - ApPROVED NOVEMBER 10, 2003) This Amendment, made this April 14, 2008, 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 Bijou Irrigation Company, P.O. Box 972, Fort Morgan, CO 80701, 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 C150255. 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 C150255, dated October 5, 2007 ("ORIGINAL CONTRACT"), incorporated herein by reference, wherein the CWCS agreed to loan money in the total amount up to $763,560, 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 unforeseen design modifications not anticipated in the original project cost estimate. These items increased the cost of the PROJECT by $50,000. To meet the increased costs, the BORROWER requested an additional $45,000 for a total loan amount of $809,010 including the 1 % loan origination fee. E. At its March 2008 meeting, the CWCB approved increasing this loan by $45,450 for a total loan amount of up to $809,010. The terms for the additional loan amount are an interest rate of 2.25% per annum and a repayment period of 30 years. A loan service fee of 1 % is included in the additional loan amount In accordance with CWCS Policy No. 16. F. The CWCB and the BORROWER have agreed to amend this contract to increase the amount of the loan by $45,450 including the 1 % loan origination fee for a total loan amount of up to $809,010. 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. 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 Page 1 of 5