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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 />March 1, 2007 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Mr. Eric Kuhn, General Manager <br />Colorado River W ater Conse~ation District <br />P.O. Box 1120 <br />Glenwood Springs, Colorado 81602 <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Number C 150 164 - Elkhead Reservoir Expansion <br /> <br />Dear Mr. Kuhn: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />March 1, 2007. <br /> <br />In accordance with the Contract, the Colorado River Water Conservation District owes $470,254.63 for interest during <br />construction, as calculated on the attached spreadsheet, due by March 10, 2007. Please 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 $1,034,487.27 <br />is due on March 1, 2008. Al % loan service fee of$110,000.00 has been added to your principal balance for a fmalloan balance <br />of$11,ll0,000.00. Please see the attached Loan Repayment Schedule and copy of the Promissory Note. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.14, 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 Colorado River Water Conservation <br />District on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of <br />service to you in the future. <br /> <br />Sincerely, /...... <br /> <br />;;;Z;; J;;i;f- <br />MZ:t~ P.E. <br /> <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. John Redifer, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br /> <br />Contract Amount <br />Expended Amount <br /> <br />= $11,110,000.00 <br />= $11,110,000.00 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />