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<br />FIRST AMENDMENT TO BOND <br /> <br />This First Amendment to Bond ("Amendment" ) is by and <br />between the CITY OF LOUISVILLE, COLORADO, a political subdivision <br />of the State of Colorado (the "Issuer"), and FIRST NATIONAL BANK <br />IN BOULDER, a national banking institution (the "Lender"). <br /> <br />RECITALS <br /> <br />WHEREAS, the Issuer has issued and delivered its <br />Industrial Devel~ent Revenue Bond (Klister Prope~ies Project) <br />Series 1985, in the original principal amount of $1,200,000; and <br /> <br />WHEREAS, the Lender is the registered owner of the Bond; <br /> <br />and <br /> <br />WHEREAS, the Issuer <br />entering into this Amendment <br />amounts due in accordance with <br />other miscellaneous changes; <br /> <br />and the Lender are desirous of <br />to modify the principal payment <br />the terms of the Bond, and to make <br /> <br />NOW THEREFORE, in consideration of the mutual covenants <br />contained herein, the parties hereto mutually undertake, promise <br />and agree as follows: <br /> <br />Section 1. Principal Payment Amount. The first <br />paragraph of the Bond is hereby modified and amended to provide <br />that the Bond shall be amortized and paid in monthly installments <br />(which installments are sUb:ject to adjustment in the event of a <br />Determination of Taxability) payable on the first day of each' <br />month, commencing October 1, 1990, and continuing through August <br />1, 2000, or such earlier date as the Principal Balance with <br />interest thereon shall have been paid in full, in an amount <br />SUfficient to amortize the Principal Balance as of August 1, 2020. <br />Interest from the Effective Date hereof until September 1, 1990, <br />shall be due and payable on the Effective Date. The unpaid <br />Principal Balance of the Bond shall be due and payable in full on <br />August 1, 2000. <br /> <br />Section 2. Miscellaneous Amendments. The second <br />paragraph of the Bond is hereby modified and amended as follows: <br />(i) all references to Scope Manufacturing, Inc., and to a Guaranty <br />Agreement of such corporation are hereby deleted, (ii) all <br />references to Klister Properties, a Colorado general partnership, <br />are hereby amended to refer to Engineered Data Products, Inc., a <br />MiChigan corporation. <br /> <br />The third paragraph of the Bond is hereby modified and <br />amended by the deletion of clause (iii). <br /> <br />- 20 - <br />