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� <br />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 />November 19, 2009 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mrs. Donna Robbins, President <br />East Mancos Highline Ditch Company <br />44850 Highway 160 <br />Mancos, CO 81328 <br />Re: Contract Number C 150207 — Ditch Rehabilitarion Project <br />Dear Mrs. Robbins: <br />Bill Ritter Jr. <br />Governor <br />James Maztin <br />Executive Direcbor <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Deputy <br />Director <br />This letter is to advise you that the work descnbed in the above referenced Contract was substantially completed as of <br />November 1, 2009. <br />In accordance with the Contract, the East Mancos Highline Ditch Cornpany owed $26,447.28 for interest during <br />construction, as calculated on the attached spreadsheet. Payment in the amount of $26,447.28 for interest during construction was <br />received and was credited to your account on November 1, 2009. <br />As outlined in the Promissory Note, Appendix 2 of the Contxact, your first loan payment in the amount of $10,673.74 is <br />due on November 1, 2010. A principal payment of $524,084.59 (NRCS grant funds) was received and applied to your loan <br />balance of $747,489.12 on November 1, 2009. This payment resulted in a final loan balance of $223,404.53 that your annual <br />payment is based on. A 1% loan origination fee of $7,400.88 was added, which was based on your highest construction <br />cumularive loan balance of $740,088.24. Vaughn McWilliams, our Coniract Administrator, will be amending the Promissory <br />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, Pazagraph A.16, 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 East Mancos Highline Ditch <br />Company on the successful complerion of this project. Please call if you have any quesrions regarding this matter or if we can be <br />of service to you in the future. <br />Sincerely, � ^ <br />�,,...--,��� -� <br />�- � <br />��-n t� <br />, <br />Tim Feehan, P.F,! <br />Project Manag�, Water Supply Planning and Finance Section <br />r <br />copy: April Montgomery, CWCB Board Member <br />Water Supply Planning and Financz Section <br />Project file <br />Contract file <br />Contract Amount = $904,000.00 <br />Expended Amount -_ $747,489.12 ' <br />Final Amount - $223,404.53 <br />Flcx�d ProtccHon • Water Supply Planning and Finance • Stream and Lake Protc�ction <br />Water Supply Prot��tion • Conservation and Drought Planning <br />