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STATE OF COLORADO <br /> Colorado Water Conservation Board , , ,�,,; <br /> Department of Natural Resources olo <br /> 1313 Sherman Street,Room 721 ��ti-64 <br /> Denver,Colorado 80203 I <br /> Phone:(303)866-3441 0 *S � <br /> Fax:(303)866-4474 , *J876• <br /> www.cwcb.state.co.us <br /> John W. <br /> May 15, 2014 GovernoHickenlooper r <br /> Fred A. Stangel Mike King <br /> g DNR Executive Director <br /> Haldi Ditch Company <br /> 7669 N. Foothills Hi hwa James Eklund <br /> g �' CWCB Director <br /> Boulder, CO 80302 <br /> Re: Emergency Haldi Ditch Repair Contract Number C150389 <br /> NOTICE OF REPAYMENT TERMS <br /> Mr. Stangel: <br /> This letter is to inform you that the CWCB has established a Payment Initiation Date of March 1, <br /> 2014. In accordance with the Loan Contract,the Company will not accrue interest on any loan <br /> balance for three years. On March 1,2017, CWCB will apply the 1% service fee and the <br /> principal amount borrowed will begin accruing at the approved interest rate. <br /> On March 1, 2018,the Company will begin annual repayment of the Loan's principal and <br /> interest as shown on the attached amortization schedule unless modified by a contract <br /> amendment. <br /> Please note, in accordance with the Borrower's Liability Insurance Provision of the Loan <br /> Contract, a renewed insurance certificate must be submitted to the CWCB annually and a <br /> Reserve Account must be funded and maintained during the 27 years of repayment. <br /> Please don't hesitate to call if you have any questions regarding this matter. <br /> Sincerely, <br /> 2_is< <br /> Kirk Russell, P.E. Chief <br /> Finance Section <br /> ec: Diane Hoppe, CWCB Board Member, South Platte River Basin <br /> CWCB Finance Staff <br /> Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection <br /> Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning <br />