C150179 Letter of Sustaintial Completion

Home Browse Search

,. ~ j- STATE OF COLORADO Colorado Water Conservation Board Department of Natural Resources 1313 Sherman Street, Room 721 Denver, Colorado 80203 Phone: (303) 866-3441 FAX: (303) 866-4474 www.cwcb.state.co.us September 27, 2004 Bill Owens Governor NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE Russell George Executive Director Mr. Raymond Keith, President Henry Bolen Ditch Company 6875 c.R. 38 Mancos, CO 81328 Rod Kuharich CWCB Director Rick Brown Acting Deputy Director Re: Contract Number CI50 179 - Henry Bolen Ditch Rehabilitation Dear Mr. Keith: This letter is to advise you that the work described in the above referenced Contract was substantially completed as of August 1,2005. In accordance with the Contract, the Henry Bolen Ditch Company owes $4,174.00 for interest during construction, as calculated on the attached spreadsheet. Payment in the amount of $4,174.00 for interest during construction was received and was credited to your account on August 1, 2005. As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $2,069.84 is due on August 1, 2006. A principal payment of$285,464.14 (NRCS grant funds)) was received and applied to your loan balance of $328,786.48 on August I, 2005. This payment resulted in a final loan balance of $43,322.34, which your annual payment is based on. A 1 % loan origination fee of $3,287.86 was charged to your account. The origination fee was based on your highest cumulative loan balance of $328,786.48. Payment for the 1 % origination fee has been received and was credited to your account on August 1, 2005. Chad Henderson, our Contract Administrator, will be amending the Promissory Note, contained as Appendix 2 of the Contract, to reflect the final contract loan amount. In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually. It has been a pleasure of the Colorado Water Conservation Board to work with the Henry Bolen Ditch Compauy on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service to you in the future. Sincerely, "#&J~ :tL;:let, P.E. Chief, Water Supply Planning and Finance Section cc. Don Schwindt, CWCB Board Member DNR Accounting Water Supply Planning and Finance Section Proj ect file Contract fIle Accounts Receivable Contract Amount Expended Amount = $520,150.00 = $43,322.34 Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection Water Supply Protection. Conservation and Drought Planning