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<br />'. <br /> <br />ST A TE OF COLORADO <br /> <br />f <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: 003)866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />December 7, 2005 <br /> <br />Bill Owens <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE <br /> <br />Russell George <br />Executive Director <br /> <br />Mr. Philip Mortensen, President <br />Upper Platte & Beaver Canal Company <br />P.O. Box 581 <br />Brush, CO 80723 <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Rick Brown <br />Acting Deputy <br />Director <br /> <br />Re: Contract Number C150l44 - J-W Augmentation Project <br /> <br />Dear Mr. Mortensen, <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />December 1, 2005. <br /> <br />In accordance with the Contract, the Upper Platte and Beaver Canal Company owes $2,364.65 for interest during <br />construction, as calculated on the attached spreadsheet, due by December 31, 2005. Make your check for interest during <br />construction payable to the Colorado Water Conservation Board and include the Contract Number on the check. <br /> <br />As outlined in the Promissory Note, Appendix 2 of the Contract, your fIrst loan payment in the amount of $7,689.30 is <br />due on December 1, 2006. A prepayment of$11,501.65 has been applied to your principal balance to account for the actual funds <br />expended to construct your project. A 1% loan origination fee of $561.12 has been added to your principal balance for a fInal <br />loan balance of $56,673.35. The origination fee was based on your cumulative loan balance of $56,112.23. Please see your <br />attached Loan Repayment Schedule and a copy of the Promissory Note. <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 Colorado Water Conservation Board annually. <br /> <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Upper Platte and Beaver Canal <br />Company on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be <br />of service to you in the future. <br /> <br />S~J~ <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract fIle <br /> <br />Contract Amount = $68,175.00 <br />Expended Amount = $56,673.35 <br /> <br />Flood Protection. Water Supply Plahning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Plahning <br />