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<br />G.M,S, Land and Cattle, LLC <br />January 28, 2003 <br /> <br />Page 2 <br /> <br />2. An approved contract must be in place before funds can be advanced. Jan IlIian has <br />placed this loan on our "hot list" and will initiate the loan contracting process with a goal <br />of having a signed contract in place by March 2003. Once the contract is finalized the <br />Company may request loan funds to cover eligible project expenditures, <br /> <br />3. You must adhere to the CWCB Desion and Construction Administration Procedures. <br />Tim Feehan will contact you regarding the CWCB requirements conceming project <br />bidding, design, and construction, Tim will make construction inspections, which will be <br />the basis of the pay estimates for disbursement of your loan funds. <br /> <br />On behalf of the Board, I would like to thank you for applying for a loan from the Colorado <br />Water Conservation Board, <br /> <br />~--'l4 <br /> <br />Mike Serlet, PE, Chief <br />Water Supply Planning and Finance Section <br />Colorado Water Conservation Board <br /> <br />Attachments: <br /> <br />Updated Memo: GMS 0103 memo <br /> <br />cc (w/Attachment): <br /> <br />Mr. Eric Wilkinson, Colorado Water Conservation Board <br />CWCB Section B Staff <br />Linda Bassi, AGO <br />Chrono File <br /> <br />C: Proj-NewlGMS 0103 Itr <br />