CT2015-174 Section 8 Change Approval Ltr

• Contract/PO #: CT2015-174
• Contractor Name: Uncompahgre Valley Water Users Association
• Contract Type: Loan
• County: Montrose
• Loan Projects - Doc Type: Contract Documents

THE GUNNISON TUNNEL PROJECT
The Uncompahgre Valley Water Users Association
601 North Park Ave. *P.O.Box 69'Montrose,CO 81402.0069
Phone: [phone] Fax:[phone]
November 16,2015
Peg Masan. Contract Manager
DNR, CWCB
1313 Sherman St.. Room 718
Denver. CO 80203
RE: Loan Contract 2015-74
Peg.
Uncompahgre Valley Water Users Association approves the change to
CWCB Loan Contract 2015-174,Appendix 1 ,to include a new Section
8,titled Additional Provision.The Additional Provision language is as
follows:
The permitted use of the proceeds of the loan shall be the furnishment
of such proceeds to an entity owned by the Borrower, and whose sole
purpose is to perform all obligations of Borrower under the Loan
Contract so long as: (a) ownership of the entity shall fully be vested in
the Borrower; (b)the sole purpose and, therefore, the only permitted
activities of the entity shall be consistent with the Loan Contract; and
(c)so long as Borrower continues, without interruption,to perform all
its duties, obligations and responsibilities under the Loan Contract.
Additionally, removal of the reference to the Shareholders' Resolution
in the Loan Contract, Paragraph A.6., Page 3, which is not required, is
approved.
Sincerely.
George Etchart
President,Board of Directors
Uncompahgre Valley Water
Users Association(UVWUA)