PROJC02225

• Contract/PO #: C150249
• Contractor Name: Black Dike Pipeline Company
• Contract Type: Loan
• Water District: 0
• County: Montezuma
• Loan Projects - Doc Type: Project Completion Letter

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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
Mrs. Penny Welch, Treasurer
Black Dike Ditch Company
14575 Road G
Cortez, CO 81321
Re: Contract Number C 150249 -Black Dike Ditch Rehabilitation Project
Dear Mrs. Welch:
Bill Ritter Jr.
Governor
Harris D. Sherman
Executive Director
Jeruufer 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
October 1, 2008.
In accordance with the Contract, the Black Dike Ditch Company owed $10,086.60 for interest during construction, as
calculated on the attached spreadsheet. Payment in the amount of $10,086.60 for interest during construction was received and
was credited to your account on October 2, 2008.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $13,325.84 is
due on October 1, 2009. A principal payment of $337,649.78 (NRCS grant funds) was received and applied to your loan balance
of $603,980.00 on October 2, 2008. This payment resulted in a final loan balance of $266,330.22 that your annual payment is
based on. A 1% loan origination fee of $5,980.00 was charged to your account. The origination fee was based on your highest
construction cumulative loan balance of $598,000.00. 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, Pazagraph 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 Black Dike Ditch Company on the
successful completion of this project. Please call if you have any questions regazding 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 Boazd Member
Water Supply Planning and Finance Section
Project file
Contract file
Contract Amount = $603,980.00
Expended Amount = $603,980.00
Final Amount = $266,330.22
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning