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<br />. <br />, <br /> <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:~03)866-3441 <br />FPlX: (303)866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />June 30, 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. Al Cole, President <br />Lincoln Park Crooked Ditch Company <br />P.O. Box 756 <br />Canon City, CO 81212 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br /> <br />Re: Contract Number C 150230 - Crooked Ditch Rehabilitation <br /> <br />Dear Mr. Cole: <br /> <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />June 1, 2008. <br /> <br />In accordance with the Contract, the Lincoln Park Crooked Ditch Company owes $8,638.30 for interest during <br />construction, as calculated on the attached spreadsheet. Payment in the amount of$8,638.30 for interest during construction was <br />received and was credited to your account on July 1, 2008. <br /> <br />Your fIrst loan payment in the amount of $42,392.22 is due on June 1,2009. The 42,392.22 annual loan payment was <br />calculated based on a $804,685.61 fma110an balance at 3.25% for 30-years, which includes a 1% loan service fee of $7,967.18. <br />Vaughn Mc W illiarns, our Contract Administrator, will be amending the Promissory Note, contained as Appendix 2 of the contract <br />to reflect the fma110an contract amount. <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 Lincoln Park Crooked Ditch <br />Company on the successful completion of this project. Please call if you have any questions regarding this matter or if we can be <br />of service to you in the future. <br /> <br />SinC~~/ /..' I'~_ <br />~4{!~~ <br /> <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br /> <br />cc. Reed Dills, 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 />= $1,818,000.00 <br />= $804,685.61 <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />