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Ms. Carrie Weiss <br />Pagosa Area Water and Sanitation District (C150261) <br />May 26, 2010 <br />Page 2 of 2 <br />CWCB Position - This does not constitute a material change to the intent of the loan. The CWCB <br />approved the loan for the purchase of the "Laverty property" as is needed by the District for <br />the Dry Gulch Reservoir Project. If the property was originally identified by the District in <br />the Loan Feasibility Study, the District may use the CWCB disbursements to secure the <br />property in multiple parcels/owners as long as the District can support the price with an <br />appraisal as required in the Loan Contract. <br />In summary, we do not require an amendment to the loan contract for either of the situations <br />discussed above. <br />Sincerely, <br />! <br />Kirk Russell, PE <br />CWCB Finance Section <br />E-mail Copy <br />April Montgomery, Board Member - San Miguel-Dolores/SanJuan River Basin <br />Tim Feehan, CWCB Finance Section, Chief <br />Susan Schneider, AGO <br />CWCB contracting file <br />