C150270 proj completion ltr

• Contract/PO #: C150270
• Contractor Name: Headgate 135 Lateral, Inc.
• Contract Type: Loan
• Water District: 0
• County: Mesa
• 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
November 19, 2009
NOTICE OF PROJEC'T SUBSTANTIAL COMPLETION AND REPAYMENT
Mr. Gordon Barker, President
Headgate 135 Lateral, Incorporated
3042 Belford Court
Grand Juncrion, CO 81504
Re: Contract Number C150270 — Ditch Rehabilitation Project
Dear Mr. Barker:
Bill Ritter Jr.
Govemor
james Martin
Executive Director
Jennifer L. Gunbel
CWCB D'uector
Dan McAuliffe
CWCB Deputy
D'uector
This letter is to advise you that the work described in the above referenced Contract was substantially completed as of
October 1, 2009.
In accordance with the Contract, the Headgate 135 Lateral, Inc. owed $4,229.87 for interest during construcrion, as
calculated on the attached spreadsheet. Payment in the amount of $4,229.87 for interest during construction was received and
was credited to your account on October 1, 2009.
As outlined in the Promissory Note, Appendix 2 of the Contract, your first loan payment in the amount of $5,005.53 is
due on October 1, 2010. A principal payment of $100,870.87 (NRCS grant funds) was received and applied to your loan balance
of $192,932.86. This payment resulted in a final loan balance of $92,061.99 that your annual payment is based on. A 1% loan
originarion fee of $1,910.23 was added, which based on your highest construction cumulative loan balance of $191,022.63.
Vaughn McWilliams, our Contract Administrator, will be amending the Promissory Note, contained as Appendix 2 of the
Contract, to reflect the final contract loan amount.
In accordance with the Borrower's Liability Insurance Provision of the Contract, Paragraph A.16, 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 Boazd to work with the Headgate 135 Lateral, Incorporated
on the successful completion of this project. Please call if you have any quesrions regarding this matter or if we can be of service
to you in the future.
Sincerely, ��,,,�
Tim Feehan, P,L.
Project Mana�,�er, Water Supply Planning and Finance Secrion
cc. John Redifer, CWCB Board Member
Water Supply Planning and Finance Section
Project file
Contract file
Contract Amount = $262,600.00
Expended Amount = $192,932.86
Final Amount = $92,061.99
Flood Protection • Water Supply Planiung and Finance • Stream and Lake Protection
Water Supply Protection . Conservation and Drought Planning