C150266 proj completion ltr

• Contract/PO #: C150266
• Contractor Name: Granby Ditch and Reservoir Company
• Contract Type: Loan
• Water District: 40
• County: Delta
• 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
Apri126, 2010
NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. George Fulton, President
Granby Ditch and Reservoir Company
P.O. Box 399
Cedaredge, CO 81413
Re: Contract Number C150266 — Granby No. 12 Reservoir Rehabilitarion Project
Dear Mr. Fulton:
Bill Ritter Jr.
Govemor
james B. Martin
DNR Executive
Director
Jennifer L. Gimbel
CWCB Director
This letter is to advise you that the work described in the above referenced Contract was substanrially completed as of
Mazch l, 2010. In accordance with the Coniract, you owed and paid $3,594.42 for interest during construction, as calculated on
the attached.spreadsheet.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $7,492.35 is
due on Mazch 1, 2011. A 1% loan service fee of $2,200.92 was added to your principal balance of $220,092.35, for a final loan
balance of $222,293.27. A principal reducrion, 1% loan service fee, and IDC payment of $65,887.69 was applied to your account
as of March 1, 2010 for a final loan balance of $160,000.00. As requested, an adjusiment of $32,226.73 has been subtracted from
your approved loan amount of $254,520.00, since these remaining funds will not be needed. Please see the attached Loan
Repayment Schedule. Vaughn McWilliams, our Contract Adminislrator, will be in contact to amend the Promissory Note.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.6, please note that the
renewed insurance certificates need to be provided to the Colorado Water Conservation Board annually.
It has been a pleasure of the Colorado Water Conservation Board to work with the Granby Ditch and Reservoir
Company on the successful complerion 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.
Tim Feehan, P.E.
Chief, Finance �
cc. John Redifer, CWCB Boazd Member
Water Supply Planning and Finance Secrion
Project file
Contract file
Contract Amount = $254,520.00
Expended Amount = $160,000.00
Flood Protection • Finance • Stream and Iake Protection
Water Supply Protecrion • Conservation and Drought Planning