C150357 Contract

• Contract/PO #: C150357
• Contractor Name: Boulder and Left Hand Irrigation Company
• Contract Type: Loan
• Water District: 6
• County: Boulder
• Loan Projects - Doc Type: Contract Documents

CONTRACT AMENDMENT
Amendment Original Loan Contract#C150357 Amendment CMS #66741
No.1 Original CMS #62283
1) PARTIES
This Amendment No.2 (AMENDMENT) to the above-referenced ORIGINAL LOAN CONTRACT (hereinafter
called the ORIGINAL CONTRACT) is entered into by and between Boulder& Left Hand Irrigation
Company, 157 Baylor Way, Longmont, CO 80503, ("BORROWER"), a Colorado nonprofit corporation
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 Boulder& Left Hand Irrigation Company requested an increase to its existing CWCB LOAN
CONTRACT NUMBER C150357 for the Tracy Lateral Pipeline at the Wederquist "Y" Project (PROJECT).
The purpose of the PROJECT is to improve the hydraulic efficiency of the ditch while reducing the
BORROWER'S operation and maintenance costs. The BORROWER'S anticipated contractor bids, based
on preliminary engineering and the engineer's opinion of probable cost, came in higher than the
original projected estimates. The original PROJECT COST is increasing from $175,000 to $223,500.
This AMENDMENT increases the existing CWCB loan amount by $42,925, from $159,075 to
$202,000. At its March 19, 2014 meeting, the CWCB approved the increase to the Loan Contract
Amount.
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.
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. C150357 and all prior amendments thereto, if any, are modified as
follows:
a) Amend this contract to increase the total loan amount by $42,925 increasing the LOAN
CONTRACT total amount from $159,075 to $202,000. The terms for the additional loan amount
remain the same as the original contract; an interest rate of 2.35% 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 CWCB Policy Number 16.
b) The BORROWER agrees that it shall execute the following documents, all of which shall set forth
the revised loan amount of$202,000:
Amendment No. 1 to Loan Contract C150357
Page 1 of 3
Effective Date: 1/6/09