|
<br />~
<br />
<br />\
<br />
<br />AGENCY NAME: Water Conservation Board
<br />AGENCY NUMBER: PDA
<br />ROUTING NUMBER: 0105ti
<br />
<br />CON T RAe TAM END MEN T No.2
<br />
<br />THIS AMENDMENT, made this 24'!!! day of ~~~{~~~~bY and between the State of
<br />Colorado for the use and benefit of the Department of Natural Resources, Colorado Water Conservation
<br />Board (CWCB), hereinafter referred to as the STATE, and the Colorado River Water Conservation
<br />District, P.O. Box 1120, Glenwood Springs, CO 81602, hereinafter referred to as the CONTRACTOR.
<br />
<br />FACTUAL RECITALS
<br />
<br />A. Authority exists in the law, and funds have been budgeted, appropriated, and otherwise made available
<br />and a sufficient unencumbered balance thereof remains available for payment in Fund Number 424,
<br />Appropriation Code 368, Contract Encumbrance Number C153629.
<br />
<br />B. Required approval, clearance, and coordination has been a=mplished from and with appropriate
<br />agencies.
<br />
<br />C. The STATE and the CONTRACTOR entered into a contract dated September 30, 1992, Contract
<br />Encumbrance Number C153629, hereinafter referred to as ORIGINAL CONTRACT, incorporated herein by
<br />reference, wherein the STATE agreed to loan money in the total amount of $20,000,000, and the
<br />CONTRACTOR agreed to repay the loan in accordance with the tenns of the ORIGINAL CONTRACT.
<br />
<br />D. The ORIGINAL CONTRACT was amended on February 13, 1996 to provide that the first loan payment
<br />shall be due one month after the project is substantially completed.
<br />
<br />E. The PROJECT was substantially completed as of June 1, 1996.
<br />
<br />F. The total amount of the funds borrowed of the $20,000,000 authorization was $16,255,724.12, and, the
<br />CONTRACTOR'S first two loan payments of $1,153.383.57 were paid on July 1, 1996 and July 1, 1997,
<br />respectively.
<br />
<br />G. The CONTRACTOR and the STATE have agreed that the revenues pledged to repay this loan shall be
<br />limited to the first $1,153,383.57 received annually by the CONTRACTOR from the City and County of
<br />Denver under the Denver Lease, provided that the CONTRACTOR establishes a reserve account in the
<br />amount of $1 ,500,000 and conveys a security interest to the STATE in said account. The CONTRACTOR
<br />has agreed to provide a Security Agreement to the STATE to secure the pledged revenues and to keep
<br />said revenues in a separate account.
<br />
<br />H. At its July 15-16, 1997 meeting, the CONTRACTOR'S Board of Directors adopted a resolution approving
<br />the tenns of this contract amendment.
<br />
<br />NOW THEREFORE, the parties hereby agree that
<br />
<br />1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments which shall be
<br />made pursuant to this Amendment, Amendment No.1, and the ORIGINAL CONTRACT and the promises
<br />and agreements herein set forth. .
<br />
<br />- ,
<br />J
<br />
<br />2. It is expressly agreed by the parties that this Amendment is supplemental to the ORIGINAL CONTRACT,
<br />and all tenns, conditions, and provisions thereof, unless specifically modified herein, <!re to apply to this
<br />
<br />Page 1 of 3
<br />
|