C150187 Letter of Substaintial Completion

• Contract/PO #: C150187
• Contractor Name: Young Creek Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• Loan Projects - Doc Type: Project Completion Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us
May 3, 2007
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. Robert Morris, President
Young Creek Reservoir Company
1948 Highway 65
Cedaredge, CO 81413
Re: Contract Number C150187 — Young Creek Reservoir Rehabilitation
Dear Mr. Morris:
Bill Ritter Jr.
Governor
Harris D. Sherman
Executive Director
Rod Kuharich
CWCB Director
Dan McAuliffe
Deputy Director
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
March 1, 2007.
In accordance with the Contract, the Young Creek Reservoir Company owes $4,168.76 for interest during construction,
as calculated on the attached spreadsheet, due by May 28, 2007. Please make your check for interest during construction payable
to the Colorado Water Conservation Board and include the Contract Number on the check.
Your first loan payment in the amount of $4,524.76 is due on March 1, 2008. The $4,524.76 annual loan payment was
calculated based on a final loan balance of $94,704.60 at 2.5% for 30- years. A 1% loan service fee of $937.67 has been added to
your principal balance and was based on your final cumulative loan balance of $93,766.93. Vaughn McWilliams, our Contract
Administrator, will be amending the Promissory Note, contained as Appendix 2 of the Contract, to reflect the amended final loan
amount.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.16, 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 Young Creek Reservoir Company 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,
GXS�° --ems
Mike Serlet, P.E.
Chief, Water Supply Planning and Finance Section
CC. John Redifer, CWCB Board Member
Water Supply Planning and Finance Section Contract Amount = $197,354.00
Project file Expended Amount = $94,704.60
Contract file
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning