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<br />STATE 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 />FACK:(303)866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />March 17, 2008 <br /> <br />Bill Ritter Jr. <br />Governor <br /> <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br /> <br />Harris D. Sherman <br />DNR Executive <br />Director <br /> <br />Mr. Tony Clinco, Manager <br />Lazy 0 Ranch Homeowners' Association <br />1907 Snowmass Creek Road <br />Snowmass, CO 81654 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Re: Contract Number C150236 - Secondary Water System <br /> <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br /> <br />Dear Mr. C1inco: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />September 1, 2007. <br /> <br />In accordance with the Contract, the Lazy 0 Ranch Homeowners' Association owes $263.30 for interest during <br />construction, as calculated on the attached spreadsheet, due by April 7, 2008. Make your check payable to the Colorado Water <br />Conservation Board and include the contract number on the check. <br /> <br />Your first loan payment in the amount of $9,074.31 is due on September 1, 2008. The annua110an payment was <br />calculated based on a ftna110an balance of $152,258 at 4.25% for 30-years. A 1 % loan origination fee of $1 ,508.00 was included <br />in your ftna110an balance. Please see the attached Loan Repayment Schedule and a copy of the Promissory Note. <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 Lazy 0 Ranch Homeowners' <br />Association on the successful completion of this project. Please call if you have any questions regarding this matter or if we can <br />be of service to you in the future. <br /> <br />?ilL~ <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. John Redifer CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project ftle <br />Contract ftle <br /> <br />Contract Amount <br />Expended Amount <br /> <br />= $152,258 <br />= $152,258 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />