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R' <br />STATE OF COLORADO <br />Colorado Water Conservation Board <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 />December 3, 2008 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Jim Briscoe, Secretary <br />Beaver Reservoir Company <br />41103 Lambom Mesa Road <br />Paonia, CO 81428 <br />Re: Contract Number C 150190 — Beaver Reservoir Rehabilitarion <br />Dear Mr. Briscoe: <br />Bill Ritter Jr. <br />Govemor <br />Harris D. Sherman <br />DNR Executive <br />Director <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy <br />D'uector <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />November 1, 2008. <br />In accordance with the Conh�act, the Beaver Reservoir Company owed $14,266.48 for interest during construcrion, as <br />calculated on the attached spreadsheet. Payment in the amount of $14,266.48 for interest during construcrion was received and <br />was credited to your account on November 1, 2008. <br />As outlined in the Promissory Note, Appendix 2 of Contract, your first loan payment in the amount of 24,368.27 is due <br />on November 1, 2009. A 1% loan service fee of $5,050.00 was added to your principal balance of $504,985.00 for a final loan <br />balance of $510,035.00. Please see the attached Loan Repayment Schedule and a copy of the Promissory Note. <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 Conservarion Boazd annually. <br />It has been a pleasure of the Colorado Water Conservation Boazd to work with the Beaver Reservoir Company on the <br />successful complerion of this project. Please call if you have any quesrions regarding this matter or if we can be of service to you <br />in the future. <br />Sincerely, <br />����% v '7 <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br />cc. Keith Catlin, CWCB Board Member <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Contract Amount = $510,035.00 <br />Expended Amount $510,035.00 <br />Flc�d Protccticm • Weter Supply Planning ana Finance • Stream and Lake Prc�tection <br />Water Supply Protection • Conservation and Drought Planrung <br />