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<br />AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: POA
<br />ROUTING NUMBER: 9~ -tJ/o 15
<br />
<br />Contract #C153681
<br />Amendment #1
<br />Actual Amount Borrowed
<br />
<br />$80,000
<br />- 5.500
<br />$74,500
<br />
<br />CONTRACT
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<br />
<br />#1
<br />
<br />THIS AMENDMENT, made this / n day of 1996, by and between the State of Colorado
<br />for the use and benefit of the Depa~of Natural Re ources, Colorado Water Conservation Board (CWCB),
<br />hereinafter referred to as the STATE, and ELMWOOD LATERAL DITCH COMPANY, INC., 1179 17 Road, Fruita, Colorado
<br />B1521, hereinafter referred to as the CONTRACTOR.
<br />
<br />RECITALS
<br />
<br />1, Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available and
<br />a sufficient unencumbered balance thereof remains available for payment in Fund Number 424, Appropriation Code
<br />508, Contract Encumbrance Number C153681; and
<br />
<br />and
<br />
<br />2. Required approval, clearance, and coordination has been accomplished from and with appropriate agencies;
<br />
<br />3. The STATE and the CONTRACTOR entered into a contract dated August 22, 1994, Contract Routing Number
<br />950075, Contract Encumbrance Number C153681, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein
<br />by reference, wherein the STATE agreed to loan money in the total amount of $80,000, and the CONTRACTOR agreed
<br />to repay the loan in accordance with the terms of the OFlIGINAL CONTRACT; and
<br />
<br />4, The CONTRACTOR has substantially completed construction of the project as of September 1, 1994, and used
<br />only $74,500 of the loan funds available; and
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<br />5. The parties desire to amend the ORIGINAL CONTRACT to reflect the correct annual payment,
<br />
<br />NOW THEREFORE, it is hereby agreed that
<br />
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be made
<br />pursuant to this Amendment and ORIGINAL CONTRACT and the promises and agreements herein set forth,
<br />
<br />2,.. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT, and all
<br />terms, conditions, and provisions thereof, unless specifically modified herein, are to apply to this Amendment as though
<br />they were expressiy rewritten, incorporated, and included herein.
<br />
<br />3. It is agreed the ORIGINAL CONTRACT is and shall be modified, altered, and changed in the following respects
<br />only:
<br />
<br />a.. Paragraph A,8.c shall be changed to read as follows
<br />
<br />c, Loan payment, Annual payments, based on the actual amount borrowed of $74,~ are Five
<br />Thousand Seven Dollars and Fifty-Seven Cents ($5,007.57). There shall be 20 annual payments and
<br />the first payment shall be due and payable on September 1, 1995, and annually thereafter until the
<br />entire principal sum and any accrued interest shall have been paid. Installment payments are to be made
<br />payable to the CWCB at the address given below.
<br />
<br />ELMWOOD LATERAL DITCH CO,
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<br />CONTRACT AMENDMENT
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