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Orphan Well.s of VJiggins, L,I,C <br />September 21, 20 I 1 <br />Page 2 of 2 <br />C1NCF3 will deduct tlae Campany's minirnurn principal paytnent of $213,000, or larger <br />payrnent received, from its current loan balance of $1,048,077.U0, and will amena the <br />contract Protnissory Note t� reflect thc new l�an balance and adjusted annual payment. <br />CWC�3 will a.iso amend the Ioan cantract to refleci the change in collateral stated above. <br />CWCB's standard amendrnent fee of $1,000 will nat be charged. The Company's first loan <br />paytnent, as identired on the amended Promissory Note, will Fae due on March 1, 20i2. <br />Please note that the minimum principal payment identified, additianal easement infarmation <br />requested, and the pledge of water rights �nust be executed and in-place prior to CWCB tenninating <br />tlie terms and conditioi�s under tl�e original co�airact. <br />I've attached an updated board memo, dated September 21, 2011, tl�at includes the minutes from the <br />13oard meeting. <br />Your contin.ued eff�rts to make the Company's augmentation plan and projeci a success are <br />commenciable. I'm ht�petul that thc a�eed contract changes give the Cornpany the opportuniiy ta <br />benefrt from its ma�iy years of haxd work and monetary investm�nt. <br />If you have any questions, please do not hesitate to cail n1e at 303-61$-SO10. <br />Sincerely, <br />;�-�'�-�'` - <br />L.'''� � %r ' " , ..,.. <br />��� �� <br />TiYn Fee , P.I��. <br />Chief, Fiirance Se�tion <br />Capy: Vaugi�y� iVl.cWiliiains, CWC.I3 Con.iract Manag�r <br />Steve Bioncio, CWCF3 Account Manager <br />Kirk Russell, Design and Canstruction Man.ager <br />