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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 4, 2012 <br />Mr. Larry Kloberdanz, Secretary/Treasurer <br />Farmers Pawnee Canal Company <br />PO Box 1865 <br />Sterling, CO 80751 <br />Re: Ditch Flow Control Structure Rehabilitation <br />Loan Contract Number C150272 <br />NOTICE OF PROJECT SUBSTANTIAL COMPLETION <br />Dear Mr. Kloberdanz: <br />John W. Hickenlooper <br />Governor <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 1, 2012. In <br />accordance with the Loan Contract, the Company owes $14,113.62 for interest accrued during the <br />construction phase of the Project (see attached Project Expenditure Schedule). Please make this "interest <br />only payment" check payable to the Colorado Water Conservation Board and include the Loan Contract <br />Number C150272 on the check. <br />The total amount disbursed under this contract was $255,530.00 ($253,000.00 plus $2,530.00 for the 1% <br />service fee). The first annual loan payment will be due on June 1, 2013, in the amount of $12,208.62 as <br />presented in the attached Amortization Schedule. <br />Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan Contract, a renewed <br />insurance certificate must be submitted to the CWCB annually. <br />It has been a pleasure working with you on the successful completion of this project. Please don't hesitate to <br />call if you have any questions regarding this matter. <br />Sincerely,( <br />1 <br />Kirk Russell, P.E., Chief <br />CWCB Finance Section <br />ec: Diane Hoppe, CWCB Board Member, South Platte River Basin <br />CWCB Finance Section Staff <br />Loan Contract Amount = $255,530.00 <br />Expended Amount = $255,530.00 <br />Interstate & Federal • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Finance <br />Water Information • Water Conservation & Drought Planning • Water Supply Planning <br />