C150233 Approval Letter 5/18/12 - Laserfiche WebLink

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14 sold separately, and are vital to the operation of the ranch. This was our total intent in placing the ranch in the Easement — to preserve agricultural land and water in Colorado. The loan from CWCB enabled us to pay for the reservoir repairs. We utilize the storage water for irrigation to maximize its use for the hay production on the ranch. Loan payments of $96,023.58 are very, very difficult for us to make. The only way we were able to make the 2011 payment was to borrow money from a family member. We will have to go to another source or bank to borrow the money for this year's payment as well. This is becoming very counter- productive for us and is putting us in financial jeopardy as well. CWCB's first mortgage on both properties has crippled any borrowing power we might have to obtain more cattle to increase our cattle herd — thereby increasing our cattle income and ability to generate income to be able to make our payments to CWCB. Our request is that the loan to CWCB be amortized over a longer period of time thus enabling more affordable payments until the ranch can be sold. We are hard - working people who have always made each required payment and have no other mortgages against anything we own. We are encouraged as there has been more recent interest in the ranch than we have had in the last few years. Unfortunately, our large payment is due May 1 st of this year, which is our current problem. In our quest to obtain any kind of financing, one source asked if we were able to pay CWCB in full, would you consider any discounted payment of the entire loan? If this is an option, I will get to work to obtain that loan. Enclosed are copies of our 2010 and 2011 tax returns. Also enclosed is a copy of the letter submitted to you on April 11, 2008. Thank you for your time and consideration. Tom & Linda Hill 7990 5425 Road Olathe, CO 81425 970 - 323 -6885 (home) LH 970 - 901 -2486 (cell)