C153705 Contract

• Contract/PO #: C153705
• Contractor Name: Beaver Reservoir Company
• Contract Type: Loan
• Water District: 59
• County: Gunnison
• Bill Number: SB 94-029
• Loan Projects - Doc Type: Contract Documents

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AGENCY NAME: Water Conservation Board

AGENCY NUMBER: PDA
ROUTING NUMBER:

Contract Amendment No.2

This Amendment, made this 151 day of May 2000, by and between the State of
Colorado for the use and benefit of the Department of Natural Resources, Colorado
Water Conservation Board, hereinafter referred to as the CWCB or STATE, and Beaver
Reservoir Company, hereinafter referred to as the CONTRACTOR.

Factual Recitals

A. Authority exists in the law, and funds have been budgeted, appropriated, and
otherwise made available and a sufficient unencumbered balance thereof remains
available for payment in Fund Number 424, Appropriation Code 50t Contract
Encumbrance Number C153705A. -

B. Required approval, clearance, and coordination have been accomplished from and
with appropriate agencies.

C. The STATE and the CONTRACTOR er,)ten3'd 'nto a contract dated October 12, 1995,
Contract Encumbrance 'Number 153705 as amended on December 27, 1995,
hereinafter referred to as ORIGINAL ONTRACT, incorporated herein by reference,
wherein the STATE agreed to loan money in the total amount of $373,000 (3% interest
for a term of 40 years), and the CONTRACTOR agreed to repay the loan in accordance
with the terms of the ORIGINAL CONTRACT.

D. The State and the Contractor entered into a F~lity. Report Contract dated
November 2,1992, Contract Encumbrance Number C153631; hereinafter referred to
as the Feasibility Report Contract, incorporated hereinby reference, wherein the State
agreed to loan money in the total amount of $42,000 (0% interest for a term of 30
years) for the preparation of a feasibility study.

E. At its January 19, 1994 meeting, the Board approved combining the $42,000
Feasibility Report Contract with the $373,000 Original Contract.

F. At its May 11-12, 1998 meeting, the Board approved adjusting the term for repayment
of the feasibility study loan from 30 years to 40 years to coincide with the repayment
term for the construction loan. Combining the construction loan of $373,000 at 3%
interest with the feasibility study loan of $42,000 at 0% interest, and both for a term of
40 years results in a loan amount of $415,000 at an effective interest rate of 2.733%
per annum

G. The STATE and the CONTRACTOR agree to amend the Original Contract to incorporate
the .repayment obligations of the Feasibility Report Contract into the Original Contract.

Beaver Reservoir Company

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Amendment No.2