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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Scree!, Room 721 <br />Denver, Colorado. 80203 <br />Phone, (303) 866-3441 <br />FAX; (303) 8664474 <br />www.CW.cb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />December 1, 2003 <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />NOTICE OF PROJECf SUBSTANTIAL COMPLETION AND REPAYMENT SCHEDULE CWCB Director <br /> <br />Mrs, Julie Chester <br />Kern Reservoir and Ditch Company <br />101111'" Avenue <br />Greeley, CO 80631 <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Re: Contract Number CI50112 and C150118 - Kern Reservoir Rehabilitation Project <br /> <br />Dear Mrs. Chester, <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantiaJJ.y <br />completed as ofNovernber I, 2003. ' <br /> <br />In accordance with the Contract, the Kern Reservoir and Ditch Company owes $61,518.58 for interest during <br />construction, as calculated on the attached spreadsheet, due on Decernber 20, 2003. Make your check for interest <br />payable to the Colorado Water Conservation Board and include the contract number on the check Colorado Water <br />Conservation Board also offers electronic fund transfers for your convenience (See attachment for details). <br /> <br />The Kern Reservoir and Ditch Company obtained two separate loans from the Colorado Water Conservation <br />Board, Contract Number CI501l2 for $1,000,000 at 5.1% for 30-years and Contract Number C1501l8 for <br />$3,620,000 at 5,1 % for 30-years, for a combined total loan amount of$4,620,000. The total loan funds disbursed to <br />the Kern Reservoir and Ditch Company was $4,620,000. <br /> <br />As outlined in the Promissory Note, Appendix 2 of Contract C150112, your first loan payment in the amount <br />of $65,794.84 is due on November 1, 2004. Additionally, your first loan payment for Contract Number CI50118 in <br />the amount of$238,177.33 is due on November I, 2004. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note <br />that the renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water SUJ:lply Protection. Conservation and Drought Planning <br />