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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 />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />July 2, 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. Don Higbee, Secretary/Manager <br />Lower Arkansas Water Management Association <br />P.O. Box 1161 <br />Lamar, CO 81502 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Re: Contract Number CI50258 - Water Rights Purchase <br /> <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br /> <br />Dear Mr. Higbee: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />May I, 2008. <br /> <br />In accordance with the Contract, the Lower Arkansas Water Management Association (LA WMA) owes $9,957.30 for <br />interest during construction, as calculated on the attached spreadsheet, due by July 25, 2008. Make your check payable to the <br />Colorado Water Conservation Board and include the loan contract number on the check. <br /> <br />As outlined in the Promissory Note, Appendix 2 of Contract, your fIrst loan payment in the amount of $115,989.75 is <br />due on May 1, 2009. A 1 % loan service fee of $24,690.00 has been added for a fmal principal loan balance of $2,493,722.00. <br />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 LA WMA on the successful <br />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 <br />future. <br /> <br />Since~;, ~' / I-.~ <br />\ -7I#JM-J;r <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. Reed Dils, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br /> <br />Contract Amount <br />Expended Amount <br /> <br />= $2,493,722.00 <br />= $2,493,722.00 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />