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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 />June 22, 2010 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION AND REPAYMENT <br />Mr. Gary Booth, President <br />Wood Lake Mutual Water and Irrigation Company <br />P.O. Box 72 <br />Lucerne, CO 80646 <br />Re: Contract Number C 150244 — Angel Lake Outlet Repair <br />Dear Mr. Booth <br />Bill Ritter Jr. <br />Governor <br />Mike King <br />DNR Executive <br />Director <br />Jennifer L. Gimbell <br />CWCB Director <br />This letter is to advise you that the work described in the above referenced Contract was substantially completed as of <br />June 1, 2010. <br />In accordance with the Contract, the Wood Lake Mutual Water and Irrigation Company owes $2,878.07 for interest <br />during construction, as calculated on the attached spreadsheet, due by July 16, 2010. Please make your check for interest during <br />construction payable to the Colorado Water Conservation Board and include the Contract Number on the check. <br />As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $10,162.59 is <br />due on June 1, 2011. A 1% loan service fee of $862.54 was added to your principal balance of $86,254.03, for a final loan <br />balance of $87,116.57. An adjustment of $125,589.43 has been subtracted from your approved loan balance of $212,706.00, to <br />adjust for your final principal balance of $87,116.57. To eliminate the need to amend the loan contract, your annual payment is <br />calculated based on your authorized loan amount of $212,706.00. Please see the attached Loan Repayment Schedule and a copy <br />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 Conservation Board annually. <br />It has been a pleasure of the Colorado Water Conservation Board to work with the Wood Lake Mutual <br />Water and Irrigation Company on the successful completion of this project. Please call if you have any questions regarding this <br />matter or if we can be of service to you in the future. <br />Sincerely, <br />Tim Feehan' P. . <br />Chief, Finance ection <br />CC. Eric Wilkinson, CWCB Board Member <br />Finance Section Files Contract Amount = $212,706.00 <br />Expended Amount = $87,116.57 <br />Watershed Protection and Flood Mitigation • Finance • Stream and Lake Protection <br />Interstate and Federal • Water Supply and Planning • Conservation and Drought Planning <br />