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<br />URS Greiner Woodward Clyde <br /> <br />.. <br /> <br />Mr. R.B. "Monk" lowell, President <br />Model Land & Irrigation Company <br />March 9, 2000 <br />Page 2 <br /> <br />Based on our discussion with Mr. Green, the steps for completing the emergency loan through the <br />CWCB are: <br /> <br />1. Provide a copy of the new Articles ofIncorporation. <br /> <br />2. Provide a concise description of the water rights that are being pledged as collateral, as well as <br />copies of the decrees. <br /> <br />3. Provide consent from the Purgatorie Water Conservancy District granting the security interest for <br />the collateral being pledged by the Model Land and Irrigation District to the CWCB. <br /> <br />4. Provide the Agreement letter from the Colorado State Engineer's Office for the required <br />measurement devices. <br /> <br />5. Submit the resolution approved by the company shareholders approving the increased annual <br />assessment and other required funds for the repair project. <br /> <br />6. Complete negotiation of the contract between the Model Land and Irrigation Company. <br /> <br />Mr. Green also stated that following submittal of all of the information noted above, funds would be <br />available for disbursement about two to three weeks after the contract is signed. <br /> <br />Sincerely, <br /> <br /> <br />TEA:lIw <br /> <br />(1 copy sent) <br /> <br />3c: Mr. Bill Green, CWCS <br />lc: Mr. Hank Harbaugh <br />Mr. Bob Trout <br />Mr. Tom Tefertiller <br />File <br /> <br />I\DEN6\PROJECTSIWPMASTERIPROJECTS\44333\LE24 doc 03/C)9/1l() 11:31 AM <br />