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<br />ST A TE 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 />December 19, 2007 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris Sherman <br />Executive Director <br /> <br />Mr. Dave McDonald, President <br />Headgate 396 Lateral Corporation <br />P.O. Box 2991 <br />Grand Junction, CO 81501 <br /> <br />Dan McAullife <br />Acting CWCB <br />Director <br /> <br />Re: Contract Number C150234 - Ditch Rehabilitation <br /> <br />Dear Mr. McDonald: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />December 1, 2007. <br /> <br />In accordance with the Contract, the Headgate 396 Lateral Corporation paid $3,856.33 for interest during construction, <br />as calculated on the attached spreadsheet, which was credited to your account on December 1, 2007. <br /> <br />Your frrst loan payment in the amount of $6,162.90, as calculated on the attached Loan Repayment Schedule, is due on <br />December 1, 2008. A 1% loan origination fee of $2,267.32 was charged to your account, based on a disbursed amount of <br />$226,731.51, for total loan amount of $228,998.83. A principal payment of $100,007.63 (NRCS grant funds) was received and <br />applied to your loan balance of $228,998.83 on December 1, 2007, for a final loan balance of $128,991.20. Vaughn <br />McWilliams, our Contract Administrator, will be amending the Promissory Note, contained as Appendix 2 of the Contract, to <br />reflect the fmalloan balance. <br /> <br />In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, 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 Headgate 396 Lateral Corporation on <br />the successful completion of this project. Please call if you have any questions regarding this matter or if we can be of service to <br />you in the future. <br /> <br />SinCe~rlY' .. . ... I h <br />L#1<~J4f <br /> <br />Mike erlet, P .E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. <br /> <br />Jo1m Redifer, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br /> <br />Authorization Amount <br />Project Amount <br />Final Loan Amount <br /> <br />= $232,300.00 <br />= $226,731.51 <br />= $128,991.20 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />