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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1580 Logan Street, Suite 600 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fa�c: (303) 894-2578 <br />www. cwcb.state.co.us <br />June l, 2011 <br />Tracy Kester, President <br />Trinchera Irrigation Company <br />P.O. Box 41 <br />Blanca, CO 81123 <br />Re: Garland Canal #2 Pipeline Project <br />Loan Contract Number C 150316 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br />Dear Mr. Kester: <br />John W. Hickenlooper <br />Govemor <br />Mike King <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />This letter is to advise you that the Project referenced above was substantially completed on June l, 2011. In <br />accordance with the Loan Contract, the Company owes $525.92 for interest accrued during the construction <br />phase (IDC) of the Project (see attached Project Expenditure Schedule). Please make your "interest only" <br />payment to the Colorado Water Conservation Board and include Loan Contract Number C 150316 on the <br />check. <br />The total amount disbursed under this contract was $251,793.00 ($249,300.00 plus $2,493.00 for the 1% <br />service fee). The first annual loan payment will be due on June l, 2012, in the amount of $12,434.65 as <br />established in the Promissory Note (attached). <br />In accordance with the Borrower's Liability Insurance Provision of the Loan Contract, please note that a <br />renewed insurance certificate needs to be submitted to the CWCB annually. <br />It has been a pleasure working with the Trinchera Irrigation Company on this loan. Please don't hesitate <br />to call if you have any questions regarding this matter. <br />Sincerely, <br />Tim Feehan ,E., Chief <br />CWCB Fin �e Section <br />cc: Travis Smith, CWCB Board Member, Rio Grande Basin <br />Total Loan Amount = $251,793.00 <br />Expended Amount = $251,793.00 <br />Water Supply Protection • Watershed Protection & Fiood MiNgation • Stream & Lake Protection • Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />