C150264 letter of Substaintial Completion

• Contract/PO #: C150264
• Contractor Name: Lower Latham Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Weld
• 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 Bill Ritter jr.
Governor
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT Harris D. Sherman
DNR Executive
Director
Mr. Dennis Hoshiko, President Jennifer L. Gimbell
Lower Latham Reservoir Company CWCB Director
P.O. Box 398
Kersey, CO 80644 Dan McAuliffe
CWCB Deputy
Re: Contract Number C150264 -Water Rights Purchase/Augmentation Project Director
Dear Mr. Hoshiko:
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
December 1, 2008.
In accordance with the Contract, the Lower Latham Reservoir Company owes $5,934.77 for interest during construction,
as calculated on the attached spreadsheet, due by December 22, 2008. Please make your check for interest during construction
payable to the Colorado Water Conservation Board and include the Contract Number on the check.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $30,983.13 is
due on December 1, 2009. A 1% loan service fee of $6,639.67 was added to your principal balance of $663,967.00, for a final
loan balance of $670,606.67. An adjustment of $33.33 has been subtracted from your approved loan balance of $670,640.00, to
adjust for your final principal balance of $670,606.67. To eliminate the need to amend the loan contract, your annual payment is
calculated based on your authorized loan amount of $670,640.00. Please see the attached Loan Repayment Schedule and a copy
of the Promissory Note.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Pazagraph A.6, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservation Boazd annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the Lower Latham Reservoir 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.
Sincerel ,
r~~~
Mike Serlet, P.E.
Chief, Water Supply Planning and Finance Section
cc. Eric Wilkinson, CWCB Board Member
Water Supply Planning and Finance Section Contract Amount = $670,640.00
Project file Expended Amount = $670,606.67
Contract file
Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection
Water Supply Protection • Conservation and Drought Planning