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<br />/PB I 39-04-00
<br />AMENDMENT rl No Additional Encumbrance
<br />PROJECT ,~~/~~i, -, •<<, r~ %,
<br />CONTRACT l , ~ , ,
<br />,cs~ ~ ~~ t9 yf~ b~• and between the
<br />THIS CONTRACT, made this~_day of ~~~~t
<br />State of Colorado for the use and benefit of the lJepartment of ~ Natural kesources
<br />(Colorado Water Conservation Board),
<br />hereinafter referred to as the State. •rnd '~ the Town (Cit~'1 of Frtllta
<br />Box 636, Frusta, CO 81521
<br />hereinafter referred to as the contractor /Contractor.
<br />WHEREAS. authority exists in the Law and Funds have been budgeted. appropriated and otherwise made
<br />awilable and a sufbcient unencumbered balance thereof remains available for payment in Fund humber~-,
<br />G/L Recount Number 5 3 5 6X ,Contract Encumbrance Number Ci 5 ~ ~ a 6 : and
<br />ABL Account No. 13562, Org. Unit 7i-77-777,
<br />WHEREAS, rcyuired approval. clearancernd coordination has been accomplished from and with appropriate
<br />agrneies:and
<br />WHEREAS, the State and the Contractor entered into a
<br />contract dated December 1, 1982, contract encumbrance number
<br />C-153396 (hereinafter referred to as the "Original Contract"):
<br />and
<br />WHEREAS, paragraph A.S. of the Original Contract requires
<br />the Contractor to execute a warranty deed conveying certain
<br />described real property to the State as security for the loan;
<br />and
<br />WHEREAS, the Contractor ~ete paragraph A.S. of
<br />that contract; and
<br />WHEREAS, pursuant to section 17- (1 CR5 (1987), the
<br />r e a sufficient
<br />State is required La hav s s, as will
<br />security interest, or to!~•,m o 0
<br />assure repayment of the P.~s~ 1 n to the State; and
<br />WHEREAS, the State is willing to delete paragraph A.5.
<br />provided that prior to the execution of this amendment the
<br />Contractor lawfully adopts, pursuant to Section 8.21 of its
<br />City Charter, a specific ordinance, which shall be irrepealable
<br />foz the period of Lhe project loan, which ordinance shall issue
<br />security payable from future sales tax revenues to repay the
<br />project loan in the event of default: and
<br />WHEREAS, the Contractor has financial difficulties and
<br />could not meet its financial obligations in the years 1987,
<br />1988, and 1989; and
<br />WHEREAS, the Contractor has agreed to increase its future
<br />repayments and make up the deferred payments, plus interest, in
<br />the years 2007, 2008, and 2009: and
<br />WHEREAS, the parties desire to amend the Orig'-na1 Contract
<br />to provide for the above-described changes.
<br />NOW THEREFORE, in consideration of the mutual and dependent
<br />covenants herein contained. it is agreed by the parties hereto
<br />as follows:
<br />1. Consideration for this amendment to the Original
<br />Contract, Contract Encumbrance Number C-15'396, Contract
<br />Routing Number 83213, dated December 1, 1982, consists of the
<br />payments which shall be made pursuant to this amendment anu the
<br />promises and agreements herein set forth.
<br />2. This contract amendment is a supplement to the Original
<br />Contract, Attachment A, which is by this reference incorporated
<br />and made a part hereof; and all the terms, conditions, and
<br />provisions thereof, unless specifically modified herein, are to
<br />apply to this contract amendment as though they were erpressl}'
<br />rewritten, incorporated, and included herein.
<br />
<br />0125E'~
<br />3953}0'F10'K Paee I of ~ paee~
<br />
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