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CONTRACT AMENDMENT Amendment#1 Original Loan Contract#0150351 Amendment CMS Number Original CMS #62265 #73984 CORE: CT2015-053 1) PARTIES This Amendment No. 1 (AMENDMENT) to the above-referenced ORIGINAL CONTRACT (hereinafter called the ORIGINAL CONTRACT) is entered into by and between the Missouri Heights-Mountain Meadow Irrigation Company, P.O. Box 548, Carbondale, Colorado 81623, a mutual ditch company, (BORROWER), and the STATE OF COLORADO (hereinafter called the "STATE") acting by and through the Department of Natural Resources, Colorado Water Conservation Board, (hereinafter called "CWCB"). 2) EFFECTIVE DATE AND ENFORCEABILITY This AMENDMENT shall not be effective or enforceable until it is approved and signed by the Colorado State Controller or designee (hereinafter called the "EFFECTIVE DATE"), but shall be effective and enforceable thereafter in accordance with its provisions. 3) FACTUAL RECITALS The Missouri Heights-Mountain Meadow Irrigation Company was approved for a loan, from the CWCB, totaling $454,500.00 on November 8, 2013 to finance the Irrigation Ditch Lining Project(PROJECT). The PROJECT was substantially completed as of July 1, 2014. The Parties agree to amend the contract to reduce the final loan amount. The total amount disbursed under this contract was $428,548.48 and a decrease of$25,951.52 will be made to the contract for the funds no longer needed. Additionally, the Borrower made two principal prepayments to the loan that totaled $349,999.29, resulting in a new loan balance of$78,549.19 4) CONSIDERATION 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. The Parties acknowledge that the mutual promises and covenants contained herein and other good and valuable consideration are sufficient and adequate to support this AMENDMENT. 5) LIMITS OF EFFECT This AMENDMENT is incorporated by reference into the ORIGINAL CONTRACT, and the ORIGINAL CONTRACT and all prior amendments thereto, if any, remain in full force and effect except as specifically modified herein. 6) MODIFICATIONS. The ORIGINAL CONTRACT No. C150351 and all prior amendments thereto, if any, are modified as follows: a) Amend the contract to reduce the final loan amount to$78,549.19. 1. The loan contract was substantially completed as of July 1, 2014. The total amount disbursed under this contract was $428,548.48. A decrease of$25,951.52 will be made to the contract amount for the funds no longer needed. 2. The Borrower made two principal prepayments to the loan that totaled $349,999.29, resulting in a decrease in the loan balance. b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth the revised loan amount of$78,549.19: 1. AMENDMENT TO THE PROMISSORY NOTE, APPENDIX A, AMENDMENT NO. 1 TO LOAN CONTRACT No. C150351, in the amount of $78,549.19 and incorporated herein, which Page 1 of 3