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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) 866-4474 <br />www.cwcb.state.co. us <br />May 12, 2009 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Stan Murphy, General Manager <br />Republican River Water Conservancy District <br />410 Main Street, Suite 8 <br />Wray, CO 80758 <br />Re: Contract Number C150275 - North Fork Water Lease Purchase <br />Dear Mr. Murphy: <br />Bill Ritter Jr. <br />Govemor <br />Harris D. Sherman <br />Executive Director <br />Jennifer L.. Gimbell <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />May 1, 2009. <br />In accordance with the Contract, the Republican River Water Conservancy District owes $35,784.25 for interest <br />during construction, as calculated on the attached spreadsheet, due by May 29, 2009. Please make your check for interest <br />during construction payable to the Colorado Water Conservation Board and include the Contract Number on the check. <br />Your first loan payment in the amount of $284,708.21 is due on May 1, 2010. T'he $284,708.21 annual loan payment <br />was calculated based on a$4,545,000.00 final loan balance at 2.25% for 20-years, which includes a 1% loan service fee of <br />$45,000.00. The 1% loan service fee was calculated from your final cumularive loan balance of $4,500,000.00. Please see the <br />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 Board annually. <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Republican River Water Conservancy <br />District on the successful complerion of this project. Please call if you have any quesrions regarding this matter or if we can be of <br />service to you in the future. <br />Sincerely, <br />{~ ~ <br />Mike Serlet, P.E. <br />Chief, Water Supply Planning and Finance Secrion <br />cc. Eric Wilkinson, CWCB Board Member <br />Water Supply Planning and Finance Secrion <br />Project file <br />Contract file <br />Contract Amount = $4,545,000.00 <br />Expended Amount = $4,545,000.00 <br />Flood Protectron • Water Supply Planning and Finance • Stream and Lake Protection <br />Water Supply ProtecHon • Conservation and Drought Planning <br />