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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX; (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />February 15, 2005 <br /> <br />Bill Owens <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION ANDREPA YMENT SCHEDULE <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. Kevin Averch <br />3T Cattle Company <br />P.O. Box 88 <br />Fort Morgan, CO 80701 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Number C150175 - Water Rights Purchase <br /> <br />Dear Mr. A verch: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />January 1,2005. . <br /> <br />In accordance with the Contract, you owe $251.51 for interest during construction, as calculated on the attached <br />spreadsheet, due by February 28,2005. Make your check payable to the Colorado Water Conservation Board and include the <br />loan contract number on the check. <br /> <br />As outlined in the Promissory Note, Appendix 2 of Contract, your fIrst loan payment in the amount of $11,074.62 is due <br />on January 1, 2006. Please see the attached Loan Repayment Schedule and a copy of the Promissory Note. A 1% loan <br />origination fee of$2,295.00 has been added to your principal balance for a fInal loan balance of$231,795.00 <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the <br />renewed insurance certifIcates need to be provided to the Coloradp Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with you on the successful completion of this <br />project. Please call if you have any questions regarding this matter or ifwe can be of service to you in the future. <br /> <br />~J4r <br /> <br />Mike Serlet, P .E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. <br /> <br />Eric Wilkinson, CWCB Board Member <br />DNR Accounting <br />Water Supply Planning and Finance Section <br />Project fIle <br />Contract file <br />Accounts Receivable <br /> <br />Contract C150l75 <br />Expended Amount <br /> <br />= $231,795.00 <br />= $231,795.00 <br /> <br />Flood Protection. Water Supply Plahning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Plahning <br />