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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) 86611474 <br />www.cwcb.state.co.us <br />August 1, 2006 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Dave Echter <br />Kenosha Trout Club <br />3885 Pierson Street <br />Wheat Ridge, CO 80033 <br />Re: Contract Number C150059 -Water Rights Purchase and Reservoir Rehabilitation <br />Dear Mr. Echter: <br />Bill Owens <br />Governor <br />Russell George <br />Executive Duector <br />Rod Kuharich <br />CWCB Duector <br />Dan McAuliffe <br />Deputy Duector <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />July 1, 2006. <br />In accordance with the Contract, the Kenosha Trout Club owes $22,886.96 for interest during construction, as calculated <br />on the attached spreadsheet. Your interest during construction payment of $22,886.96 was received on July 10, 2006. <br />Your first loan payment in the amount of $19,731.47 is due on July 1, 2007. The $19,731.47 annual loan payment was <br />calculated based on a $286,772.121oan balance at 5.50% for 30-years. Vaughn McWilliams, our Contract Administrator, will be <br />amending the Promissory Note, contained as Appendix 2 of the Contract, to reflect the final contract loan amount. <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 />It has been a pleasure of the Colorado Water Conservation Board to work with the Kenosha Trout Club on the successful <br />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 <br />future. <br />Sincerely, ,, <br />.C/~~' <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Section <br />c. Harold Miskel, CWCB Board Member <br />DNR Accounting <br />Water Supply Planning and Finance Section <br />Project file <br />Contract file <br />Accounts Receivable Contract Amount = $551,250.00 <br />Expended Amount = $286,772.12 <br />Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection <br />Water Supply Protection • Conservation and Drought Planning <br />