C150205 Letter of Substaintial Completion

• Contract/PO #: C150205
• Contractor Name: Veits Pipeline Company
• Contract Type: Loan
• Water District: 34
• County: Montezuma
• Loan Projects - Doc Type: Project Completion Letter

.,
STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us
December 3, 2008
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. Dan Whitehead, Secretary
Number Six Ditch Company (Veits Irrigation Company)
P.O. Box 312
Mancos, CO 81328
Re: Contract Number C 150205 -Number Six Ditch Rehabilitation Project
Dear Mr. Whitehead:
Bill Ritter Jr.
Governor
Harris D. Sherman
Executive Director
Jennifer L. Gimbel
CWCB Duector
Dan McAuliffe
CWCB Deputy
Director
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
November 1, 2008.
In accordance with the Contract, the Number Six Ditch Company (Veits Irrigation Company) owed $33,204.11 for
interest during construction, as calculated on the attached spreadsheet. Payment in the amount of $33,204.11 for interest during
construction was received and was credited to your account on November 1, 2008.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $10,450.52 is
due on November 1, 2009. A principal payment of $470,108.74 (MRCS grant funds) was received and applied to your loan
balance of $688,841.21 on November 1, 2008. This payment resulted in a final loan balance of $218,732.47 that your annual
payment is based on. A 1% loan origination fee of $6,820.21 was charged to your account. The origination fee was based on
your highest construction cumulative loan balance of $682,021.00. Vaughn McWilliams, our Contract Administrator, will be
amending the Promissory Note, contained as Appendix 2 of the Contract, to reflect the final contract loan amount.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.16, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the Number Six Ditch Company (Veits
Irrigation Company) on the successful 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 future.
Sincerely,
•{
Mike Serlet, P.E.
Chief, Water Supply Planning and Finance Section
cc. Bruce Whitehead, CWCB Board Member
Water Supply Planning and Finance Section
Project file
Contract file
Contract Amount = $688,942.00
Expended Amount = $688,841.21
Final Amount = $218,732.47
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning