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<br />FIRST AMENDMENT TO BOND <br /> <br />~~~ <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 />OF LOUISVILLE (the "Lender"). <br /> <br />RECITALS <br /> <br />A. The Issuer has issued and delivered its Industrial <br />Development Revenue Bond (FIRMM Investments Project) Series 1982, <br />in the original principal amount of $475,000 ("Bond"). Lender is <br />the registered owner of the Bond. <br /> <br />B. The Issuer and the Lender are desirous of entering <br />into this Amendment to modify the interest payable in accordance <br />with the terms of the Bond. <br /> <br />AMENDMENT <br /> <br />1. Interest Rate. The Bond is hereby modified and <br />amended to provide that the unpaid principal balance outstanding <br />from time to time under the Bond shall accrue interest from the <br />Effective Date hereof at the rate of ten percent (10%), simple <br />interest, per annum. <br /> <br />2. Transfer of Bond. No transfer of the Bond shall be <br />effective unless the Bond is accompanied by this Amendment. <br /> <br />3. Conflict. Except as is specifically modified <br />herein, the terms of the Bond shall remain in full force and <br />effect. To the extent there is any conflict between the terms and <br />provisions of this Amendment and the Bond, the terms and <br />provisions of this Amendment shall control. <br /> <br />- 5 - <br />